Business, 18.02.2020 03:04 Sillydork4545

Knight Company reports the following costs and expenses in May. Factory utilities $16,000 Direct labor $72,700 Depreciation on factory equipment 14,250 Sales salaries 50,000 Depreciation on delivery trucks 4,900 Property taxes on factory building 2,600 Indirect factory labor 53,500 Repairs to office equipment 1,800 Indirect materials 85,000 Factory repairs 2,970 Direct materials used 141,700 Advertising 15,600 Factory manager’s salary 8,100 Office supplies used 3,523

From the information, determine the total amount of:

(a) Manufacturing overhead $Knight Company reports the following costs and exp
(b) Product costs $Knight Company reports the following costs and exp
(c) Period costs

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Answer from: niyag2gi

(a) Manufacturing overheard $182,420

(b) Product cost $396,820

Explanation:

a) Manufacturing overheard consist of indirect expenses, indirect labor cost and indirect material cost incurred in the production of a particular good:

Factory Utilities 16,000

Depreciation on factory equipment 14,250

Property taxed on factory building 2,600

Indirect factory labor 53,500

Indirect materials 85,000

Factory Repairs 2,970

Factory manager`s salary 8,100

182,420

Product cost consists of direct material cost, direct labor cost and manufacturing overheard: $

Direct material cost 141,700

Direct labor cost 72,700

Manufacturing overheard 182,420

396,820

Period cost consists of cost not relating to the production of a particular goods, but incurred in a particular period irrespective of production of good

Sales salaries 50,000

Depreciation on delivery trucks 4,900

Repairs to office equipment 1,800

Advertising 15,600

Office supplies used 3,523

75,823

Answer from: Quest

answer; ///i believe the correct answer is(e) complementary to each other;

Answer from: Quest

correct, but each time you dont pay the price of the penalty can increase.

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