The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the...
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The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the last year: Service Department costs (All of the services are provided to manufacturing function) Fringe benefits to Direct laborers in manufacturing function Fringe benefits to Indirect laborers in manufacturing function Fringe benefits for production supervisors Total overtime premiums paid Cost of idle time: Production employees Administrative costs Rental of office space for sales personnel Sales commissions Product promotion costs Direct material Advertising expenses Depreciation on factory building Direct manufacturing labor: Wages Cost of finished goods at year end Indirect manufacturing labor: Wages Production Supervisors' salary Required: Compute the following costs for the year just ended: (10 points). A) Total prime costs B) Total manufacturing overhead costs (C) Total conversion costs (D) Total product costs (E) Total period costs $40,000 $42,500 $16,000 $5,400 $28,000 $12,000 $70,500 $8,000 $3,000 $4,500 $890,000 $57,000 $53,000 $250,200 $60,000 $72,000 $24,500 The following costs were incurred by Greetings R Us, a firm manufacturing greetings cards for the last year: Service Department costs (All of the services are provided to manufacturing function) Fringe benefits to Direct laborers in manufacturing function Fringe benefits to Indirect laborers in manufacturing function Fringe benefits for production supervisors Total overtime premiums paid Cost of idle time: Production employees Administrative costs Rental of office space for sales personnel Sales commissions Product promotion costs Direct material Advertising expenses Depreciation on factory building Direct manufacturing labor: Wages Cost of finished goods at year end Indirect manufacturing labor: Wages Production Supervisors' salary Required: Compute the following costs for the year just ended: (10 points). A) Total prime costs B) Total manufacturing overhead costs (C) Total conversion costs (D) Total product costs (E) Total period costs $40,000 $42,500 $16,000 $5,400 $28,000 $12,000 $70,500 $8,000 $3,000 $4,500 $890,000 $57,000 $53,000 $250,200 $60,000 $72,000 $24,500
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