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28 March, 04:08

Use the information below for Jensen Company to answer the question that follow. Direct materials used $345,000 Direct labor incurred 250,000 Factory overhead incurred 400,000 Operating expenses 175,000 Jensen Company's product costs are a.$825,000 b.$995,000 c.$920,000 d.$770,000

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  1. 28 March, 04:35
    0
    Jensen Company's product costs are b.$995,000

    Explanation:

    Product Cost includes all Manufacturing Costs. Non-Manufacturing Costs are treated as expenses during the current period

    Calculation of Jensen Company's product costs

    Direct materials 345,000

    Direct labor incurred 250,000

    Factory overhead incurred 400,000

    Total 995,000
  2. 28 March, 04:38
    0
    b.$995,000

    Explanation:

    Jensen Company

    Direct materials used $345,000

    Direct labor incurred 250,000

    Factory overhead incurred 400,000

    Product cost $995,000

    Therefore Jensen Company's product costs is $995,000

    Direct materials used $345,000 + Direct labor incurred 250,000 + Factory overhead incurred 400,000 = $995,000
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