english
1.
Product Costs
Item Direct Materials Direct Labor Manufacturing Overhead Period Costs
Administrative salaries $15,500
Advertising for helmets $11,000
Depreciation – Factory Building $1,500
Depreciation – Office Equipment $800
Insurance – Factory Building $1,500
Miscellaneous expenses - Factory $1,000
Office supplies expense $300
Professional Fees $500
Property Taxes - Factory Building $400
Raw material used $70000
Rent on production equipment $6,000
Research & development $ 10,000
Sales commission $ 40,000
Utility Costs - Factory $900
Wages - Factory $70000
Raw materials purchases $70000*
2.
Item Variable Costs Fixed Costs Total Costs
Administrative salaries $15500
Advertising for helmets $11000
Depreciation – Factory Building $1500
Depreciation – Office Equipment $800
Insurance – Factory Building $1500
Miscellaneous expenses – Factory $1000
Office supplies expense $300
Professional Fees $500
Property Taxes - Factory Building $400
Raw material used $70000
Rent on production equipment $6000
Research & development $10000
Sales commission $40000
Utility Costs - Factory $900
Wages - Factory $70000
3.
Armstrong Helmet Company
Schedule of Cost of Goods Manufactured
For the Year Ended, December, 2013.
Direct materials
Raw Material used $70000
Direct Labor
Wages - Factory $70000
Manufacturing Overhead
Depreciation – Factory Building $1500
Insurance – Factory Building $1500
Miscellaneous expenses - Factory $1000
Property Taxes - Factory Building $400
Rent on production equipment $6000
Utility Costs - Factory $900 $11300
Total Manufacturing Cost $151300
4. Cost of producing a helmet = Total Cost Total number of helmets produced = $151300
Product Costs
Item Direct Materials Direct Labor Manufacturing Overhead Period Costs
Administrative salaries $15,500
Advertising for helmets $11,000
Depreciation – Factory Building $1,500
Depreciation – Office Equipment $800
Insurance – Factory Building $1,500
Miscellaneous expenses - Factory $1,000
Office supplies expense $300
Professional Fees $500
Property Taxes - Factory Building $400
Raw material used $70000
Rent on production equipment $6,000
Research & development $ 10,000
Sales commission $ 40,000
Utility Costs - Factory $900
Wages - Factory $70000
Raw materials purchases $70000*
2.
Item Variable Costs Fixed Costs Total Costs
Administrative salaries $15500
Advertising for helmets $11000
Depreciation – Factory Building $1500
Depreciation – Office Equipment $800
Insurance – Factory Building $1500
Miscellaneous expenses – Factory $1000
Office supplies expense $300
Professional Fees $500
Property Taxes - Factory Building $400
Raw material used $70000
Rent on production equipment $6000
Research & development $10000
Sales commission $40000
Utility Costs - Factory $900
Wages - Factory $70000
3.
Armstrong Helmet Company
Schedule of Cost of Goods Manufactured
For the Year Ended, December, 2013.
Direct materials
Raw Material used $70000
Direct Labor
Wages - Factory $70000
Manufacturing Overhead
Depreciation – Factory Building $1500
Insurance – Factory Building $1500
Miscellaneous expenses - Factory $1000
Property Taxes - Factory Building $400
Rent on production equipment $6000
Utility Costs - Factory $900 $11300
Total Manufacturing Cost $151300
4. Cost of producing a helmet = Total Cost Total number of helmets produced = $151300