Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9800 Depreciation on factory equipment 16,700 Factory supervisor salary 50,100 Sales commissions 23,700 Lubricants used in factory equipment 3600 Insurance costs for factory 21,400 Wages paid to maintenance workers 115,200 Fabric used to upholster furniture 10,400 Freight-in (on raw materials) 3200 Costs of delivery to customers 9300 Wages paid to assembly-line workers 115,700 Lumber used to build product 82,600 Utilities in factory 54,000 Utilities in sales office 26,300Product costs for Country Furniture Company totaled

Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9800 Depreciation on factory equipment 16,700 Factory supervisor salary 50,100 Sales commissions 23,700 Lubricants used in factory equipment 3600 Insurance costs for factory 21,400 Wages paid to maintenance workers 115,200 Fabric used to upholster furniture 10,400 Freight-in (on raw materials) 3200 Costs of delivery to customers 9300 Wages paid to assembly-line workers 115,700 Lumber used to build product 82,600 Utilities in factory 54,000 Utilities in sales office 26,300Product costs for Country Furniture Company totaled

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EB: Roper Furniture manufactures office furniture and tracks cost data across their process. The...

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Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks ($125,00 per desk) Production labor used to produce desks ($15 per hour) Production supervisor salary ($45,000 per year) Depreciation on factory equipment ($60,000 per year) Selling and administrative expenses ($45,000 per year) Rent on corporate office ($44,000 per year) Nails, glue, and other materials required to produce desks (varies per desk) Utilities expenses for production facility Sales staff commission (5% of gross sales)
Hicks Contracting collects and analyzes cost data in order to track the cost of installing decks on new home construction jobs. The following are some of the costs that they incur. Classify these costs as fixed or variable costs and as product or period costs. Lumber used to construct decks ($12.00 per square foot) Carpenter labor used to construct decks ($10 per hour) Construction supervisor salary ($45,000 per year) Depreciation on tools and equipment ($6,000 per year) Selling and administrative expenses ($35,000 per year) Rent on corporate office space ($34,000 per year) Nails, glue, and other materials required to construct deck (varies per job)
Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9,900 Depreciation on factory equipment 16,000 50,400 Factory supervisor salary Sales commissions 23,900 3,300 Lubricants used in factory equipment Insurance costs for factory 21,600 115,700 10,700 Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product 3,300 9,400 115,400 82,700 54,800 26,100 Utilities in factory Utilities in sales office Conversion costs for Custom Creations Furniture Company totaled>
Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: $11,000 $16,000 Depreciation on sales office Depreciation on factory equipment Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product $52,500 $23,000 $3,000 $21,000 $115,000 A. $121,000. B. $43,000. OC. $46,500, OD. $69,500. $7,000 $2,500 $9,000 $132,500 $72,000 $44,000 $26,500 Utilities in factory Utilities in sales office Period costs for Comfy Furniture Company totaled: C***
Browning Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office Depreciation on factory equipment Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product $9300 16,800 50,100 23,400 3900 21,500 115,300 10,900 3000 9700 115,600 82,100 54,500 26,700 Utilities in factory Utilities in sales office Prime costs for Browning Furniture Company totaled $93,000. $377,000. $208,600. $211,600.
Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Depreciation on sales office $ 9,800 Depreciation on factory equipment 16,700. Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product 50,200 23,400 3,800 21,400 115,600 10,900 3,200 9,200 A. $261,800. OB. $131,700. OC. $236,600. D. $325,100. 115,100 82,100 54,100 26,900 Utilities in factory Utilities in sales office Manufacturing overhead costs for Custom Creations Furniture Company totaled
Custom Creations Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: $ 9,800 16,900 50,700 23,900 3,400 21,900 115,600 10,100 3,100 9,700 Depreciation on sales office Depreciation on factory equipment Factory supervisor salary Sales commissions Lubricants used in factory equipment Insurance costs for factory Wages paid to maintenance workers Fabric used to upholster furniture Freight-in (on raw materials) Costs of delivery to customers Wages paid to assembly-line workers Lumber used to build product Utilities in factory Utilities in sales office Direct labor costs for Custom Creations Furniture Company totaled OA. $305,200. OB. $281,300. OC. $115,600. OD. $115.000. 115,000 82,600 54,300 26,700
The Company manufactures furniture at its central Kentucky factory. Some of its costs from the past year include: Wages paid to maintenance workers $60,700 Fabric used to upholster furniture $80,500 Wages paid to assembly-line workers $100,200 Lumber used to build product $15,100 Sales commissions $7700 Insurance costs for factory $21,900 Freight-in (on raw materials) $3900 Utilities in factory $12,400 Factory supervisor salary $60,100 Depreciation on factory equipment $18,200 Utilities in sales office $26,400 Costs of delivery to customers $8500 Depreciation on sales office $1700 Lubricants used in factory equipment $500 Direct material costs for the Company totaled $15,100. $95,600. $99,500. $80,500.
The Company manufactures furniture at its New York factory. Some of its costs from the past year include: Depreciation on sales office $ 9,700 Depreciation on factory equipment 16,600 Factory supervisor salary 50,200 Sales commissions 23,600 Lubricants used in factory equipment 3,000 Insurance costs for factory 21,400 Wages paid to maintenance workers 115,400 Fabric used to upholster furniture 10,800 Freight-in (on raw materials) 3,600 Costs of delivery to customers 9,000 Wages paid to assembly-line workers 115,600 Lumber used to build product 82,200 Utilities in factory 54,800 Utilities in sales office 26,100 Direct material costs for The Company totaled
Steuben Company produces dog houses. During the current year, Steuben Company incurred the following costs: Rent on manufacturing facility Office manager's salary Wages of factory machine operators Depreciation on manufacturing equipment Insurance and taxes on selling and administrative offices Direct materials purchased and used Multiple Choice Based on the above information, the amount of period costs shown on Steuben's income statement is: O $70,000 $5,000 $186,000 $116,000 65,000 45,000 15,000 $65,000 5,000 75,000
Loring Company incurred the following costs last year: Direct materials $ 216,000 Sales salaries $ 65,000 Advertising Depreciation on the headquarters building Salary of the corporate receptionist Other administrative costs Factory rent 24,000 37,000 Direct labor 120,000 Factory utilities Supervision in the factory Indirect labor in the factory Depreciation on factory equipment 6,300 10,000 50,000 30,000 30,000 175,000 9,000 Salary of the factory receptionist 28,000 Sales commissions 27,000 Required: 1. Classify each of the costs using the following table format. Be sure to total the amounts in each column. Example: Direct materials, $216,000.
What was Albay's cost of goods sold? Albay Company incurred the following costs and expense during the current year: Raw material purchases Direct labor cost Indirect labor cost – factory Factory repairs and maintenance Taxes on factory building Depreciation – factory building Taxes on sales room and general offices Depreciation – sales equipment Advertising Sales salaries Office salaries Utilities (50% applicable to factory, 30% to salesroom and 20% to office) 4,000,000 1,500,000 800,000 200,000 100,000 300,000 150,000 50,000 400,000 500,000 700,000 1,000,000 Beginning 200,000 500,000 400,000 Ending 450,000 350,000 700,000 Raw Materials Work in process Finished goods

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bartleby, a Learneo, Inc. business

	$448,300.
	$472,900.
	$489,200.
	$373,100.

Depreciation on sales office	$ 9800
Depreciation on factory equipment	16,700
Factory supervisor salary	50,100
Sales commissions	23,700
Lubricants used in factory equipment	3600
Insurance costs for factory	21,400
Wages paid to maintenance workers	115,200
Fabric used to upholster furniture	10,400
Freight-in (on raw materials)	3200
Costs of delivery to customers	9300
Wages paid to assembly-line workers	115,700
Lumber used to build product	82,600
Utilities in factory	54,000
Utilities in sales office	26,300