Rios Corporation reports costs for the year as​ follows:   Direct Materials Used $465,000 Wages to Line Workers 240,000 Office Rent 72,500 Indirect Materials Used 480,000   How much is the total product costs for the​ year?   A. $1,257,500   B. $1,185,000   C. $705,000   D. $480,000

Q: Last year, Buckner & Jones Company incurred the following costs: Direct materials $42,000 Direct…

A: Product Cost = Direct material + Direct Labor + Manufacturing Overhead (Indirect manufacturing…

Q: Top Wood is a small manufacturing company currently making a single type of chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing overhead costs - variable manufacturing…

Q: The following costs relate to Antonio Industries for the last quarter: Conversion cost Direct…

A: Prime cost refers to the sum of direct material and direct labor of the entity.

Q: Problem 1 The J. Page Furniture Company has the following information available regarding costs at…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: Req-1   Calculation of unit product cost under variable costing:   Direct Materials $7.00…

Q: Related Data of Clarisse Company: Direct materials                                        385,000…

A: The answer is Product cost =  direct material + direct labour + manufacturing overhead

Q: Year 1 financial data for the ABC Company is as follows:Sales $5,000,000 ,Direct materials 850,000…

A: Cost of goods sold: Cost of goods sold is the accumulate total of all direct cost incurred in…

Q: Top Wood is a small manufacturing company currently making a single type of chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing overhead costs - variable manufacturing…

Q: Calculate (a) cost of sales, (b) direct material and (c) direct labor based on the following…

A: a. Compute cost of sales as shown below:

Q: Data pertaining to Lakers Co.’s manufacturing operations: INVENTORIES   April 1, 20X1   April 30,…

A: Correct option: ₱118,000 Incorrect option: ₱150,000 ₱109,000 ₱115,000

Q: The following costs relate to Antonio Industries for the last quarter: P 435,000 215,000 190,000…

A: Prime cost constitutes all Direct materials & Direct labor involved in the manufacturing of the…

Q: 1) The following information relates to Webster Inc.:   Advertising Costs $10,270 Administrative…

A: This question is related to Cost Accounting. In this question we have been asked to calculate the…

Q: Summarized data for Walrus Co. for its first year of operations are: Sales (110,000 units)…

A: Variable Costing - In this costing method, variable costs are considered while preparing the cost of…

Q: Materials Php 65,000.00 (Php 15,000.00 is indirect) Labor Php 70,000.00 (Php 18,000.00 is indirect)…

A: Period cost is the total cost that is not added to the unit cost of the product. It is the cost that…

Q: The Lite Manufacturing Company has the following financial information: ·         Manufacturing…

A: Solution: Manufacturing overhead = 300,800 Direct labor = Manufacturing overhead / 50% = 300,800 /…

Q: Using the data below, what is the total for product costs? Administrative salaries $83,000…

A: Meaning of Product Cost :-  Product cost refers to the costs incurred to create a product. These…

Q: Nell Corporation manufactures computers. Assume that Nell​: applies manufacturing overhead based on…

A:

Q: Last year. Abner Company incurred the following costs host P 50,000 20,000 130,000 40,000 36,000…

A: 13) Prime cost per unit = (Direct material + Direct labor)/Total units                = (50,000 +…

Q: We know the following for Train Company: Direct Materials: $400,000 Rent on Corporate Sales Office:…

A: Solution:- Calculation of the  product costs as follows:- Introduction:- Product costs include All…

Q: Factory utilities $ 13,500 Direct labor $79,100 Depreciation on 12,650 Factory manager's…

A: Given the following information: Factory utilities: $13,500 Direct labor: $79,100 Depreciation on…

Q: Top Wood is a small manufacturing company currently making a single type of chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing verhead costs - variable manufacturing…

Q: The following costs were incurred in May:     Direct materials $ 43,100​   Direct labor $ 24,800​…

A: As the questions asked have more than 1 question, the first question is answered. If you want the…

Q: Cost Flow Relationships The following information is available for the first year of operations of…

A: Cost of goods sold = Sales - Gross Profit Direct materials cost = Materials Purchased - Indirect…

Q: Burnham Industries incurs the following costs for the month: Direct materials $2,000 Direct labor…

A: What is meant by Prime Cost? Prime cost is equal to the sum of direct materials and direct labor…

Q: X Company manufactures a single product. Monthly production costs incurred in the manufacturing…

A: Variable costs and fixed costs, in economics, are the two main types of costs that a company incurs…

Q: Related data of Charlene Company:                               Direct materials…

A: Product costs means cost of manufacturing the products and it includes direct material cost, direct…

Q: Direct labor cost Direct materials cost $136,000 88,000 Equipment depreciation (straight – line)…

A: The fixed costs are the costs that remain constant for the period.

Q: The following costs were incurred in March: Direct materials = PhP1,050,000 Direct Labor =…

A: The conversion costs include direct labor and manufacturing overhead. Selling and administrative…

Q: Direct labor cost $136,000 Direct materials cost 80,000 Equipment depreciation (straight-line)…

A: The cost can be classified into two categories i.e fixed cost and variable cost. The  Fixed cost…

Q: he following were taken from the books of Medollar Company: January 1: RM P270,000; WIP P0; FG…

A: Solution 1: Production cost for the year = DM used  +DL + Factory overhead  = P2,295,000 +…

Q: 8. The following cost relate to XYZ Corp for the year: Sales commission expenses P 185,000 Direct…

A: Period cost includes: Selling expense Administration expense Depreciation expense Sales commission…

Q: YNP Corportion lists the following costs and expenses for the current year as of December 31. Sales…

A: Part 1:

Q: The following information relates to Washington, Inc.:   Advertising Costs $11,200 Sales Salary…

A: We have the following information: Advertising Costs: $11,200 Sales Salary: $11,800 Sales Revenue:…

Q: b) Refer to the following data:   Direct material used…

A: Period costs are those costs that are not included in the cost of the product and are expensed in…

Q: Superman Company has the following costs and expenses for the year ending December 21, 2X20.   Raw…

A: Cost of sales: It is the total cost incurred in the production of goods. It includes cost of…

Q: Peacock Ltd.'s production cost for August are: Particulars Amount Direct Labor Indirect Labor Direct…

A: Factory Overhead:-It includes indirect costs such as indirect material, indirect labor, insurance,…

Q: 10 XOTIC Corp...incurred the following costs in October 2008: direct labor, P 120,000; factory…

A: Cost of goods manufactured = Total manufacturing cost + Beginning WIP - Ending WIP

Q: 1. The accounting records of Dela Cruz Corporation revealed the following costs direct material…

A: Formula: Prime cost = Direct materials used + Direct labor used Sum of both direct materials used…

Q: Burnham Industries incurs the following costs for the month: Direct materials $2,200 Direct labor…

A: Ans 1 Particulars    Amount   Direct materials $2,200   Direct labor $3,100   Total Prime…

Q: Product Data   Model A Model B Units produced per year 10,000 100,000 Prime costs $153,000…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: Total Manufacturing Costs ₱325,000 Applied Overhead Costs, 75% of direct labor cost…

A: Manufacturing cost = P 325000 Manufacturing overhead = P 75000 Labor = Manufacturing overhead/0.75…

Q: ACME company has the following production costs for May: Units produced 2,000 Direct Material…

A: Production costs are the costs related to the manufacture of goods.

Q: Direct materials used OMR 24,000 Direct labor OMR 36,800 Sales salaries OMR 19,200 Indirect labor…

A: The manufacturing cost includes all the expenses that are related in the process of manufacturing.

Q: Top Wood is a small manufacturing company currently making a single type of chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing overhead costs - variable manufacturing…

Q: When a production of 200,000 units of Product A during the month of June, Bucayao Corporation has…

A: Absorption Costing Method:  Under this method of costing the inventory cost, both the variables cost…

Q: Superman Company has the following costs and expenses for the year ending December 21, 2X20.   Raw…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Top Wood is a small manufacturing company currently making a single type of chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing verhead costs - variable manufacturing…

Q: Related data of Charlene Company:                               Direct materials…

A: Period costs are the costs which do not form the part of production cost.

Q: Top Wood is a small manufacturing company currently making a single type o chair. The managing…

A: Fixed manufacturing overhead costs = Total manufacturing overhead costs - variable manufacturing…

Q: The following costs were incurred in February: Direct materials = PhP2,150,000 Direct labor =…

A: The question requires to calculate conversion costs during the month of February . Conversion costs…

Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.