e following Losts and period costs b) Explal costs and expenses in May 4 Knight

Question

e following Losts and period costs b) Explal costs and expenses in May 4 Knight Company reports the following cos s 15,500 E of sFactory utilities 12.650 Property taxes on factory 3,800 8.900 Direct labor Sales salaries hn Depreciation on factory $69,100 46,400 equipmenit Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary building 4 80,800 Factory repairs Repairs to office equipment 2,500 1,300 2,000 15,000 2,640 137,600 Advertising 8,000 Office supplies used he information, determine the total amount of: Instructions (a) Manufacturing overhead (b) Product costs (c) Period costs

Explanation / Answer

a Factory utilities 15500 Depreciation on factory equipment 12650 Indirect factory labor 48900 Indirect materials 80800 Factory manager’s salary 8000 Property taxes on factory building 2500 Factory repairs 2000 Manufacturing Overhead 170350 b Direct materials 137600 Direct labor 69100 Manufacturing Overhead 170350 Product costs 377050 c Depreciation on delivery trucks 3800 Sales salaries 46400 Repairs to office equipment 1300 Advertising 15000 Office supplies used 2640 Period costs 69140

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