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28 April, 19:02

Exercise 14-04 a-c Bonita 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 3,420 From the information: Determine the total amount of manufacturing overhead. Manufacturing overhead $ Determine the total amount of product costs. Product costs $ Determine the total amount of period costs. Period costs $

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  1. 28 April, 19:14
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    Factory Overheads $182,420

    Manufacturing overhead $ 396,820

    Product costs $396,820

    Period costs $ 75,720

    Explanation:

    Bonita Company

    Direct materials used 141,700

    Direct labor $72,700

    Factory Overheads $182,420

    Factory utilities $16,000

    Depreciation on factory equipment 14,250

    Property taxes on factory building 2,600

    Indirect factory labor 53,500

    Indirect materials 85,000

    Factory repairs 2,970

    Factory manager's salary 8,100

    Manufacturing overhead $ 396,820

    Product costs $396,820

    Advertising 15,600

    Office supplies used 3,420

    Sales salaries 50,000

    Depreciation on delivery trucks 4,900

    Repairs to office equipment 1,800

    Period costs $ 75,720

    Manufacturing Costs are costs used in the manufacture of products.

    Product Costs = Direct materials + Direct Labor + Manufacturing Overheads

    Period Costs include Marketing and Selling Expenses, Administrative Expenses.
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