10 ACCT questions

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(a)

Marin Company has been a retailer of audio systems for the past 3 years. However, after a thorough survey of audio system markets, Marin decided to turn its retail store into an audio equipment factory. Production began October 1, 2022.

Direct materials costs for an audio system total $77 per unit. Workers on the production lines are paid $15 per hour. An audio system takes 7 labor hours to complete. In addition, the rent on the equipment used to assemble audio systems amounts to $5,960 per month. Indirect materials cost $5 per system. A supervisor was hired to oversee production; her monthly salary is $3,760.

Factory janitorial costs are $2,190 monthly. Advertising costs for the audio system will be $9,160 per month. The factory building depreciation is $6,120 per year. Property taxes on the factory building will be $9,000 per year.

Assuming that Marin manufactures, on average, 1,500 audio systems per month, enter each cost item on your answer sheet, placing the dollar amount per month under the appropriate headings. Total the dollar amounts in each of the columns.

Product Costs

Cost Item Direct

Materials Direct Labor

Manufacturin Overhead

221 HW3 Ch 19 Ch 20

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Direct materials $ $ $

Wages for workers

Rent on equipment

Indirect materials

Factory supervisor’s salary

Janitorial costs

Advertising

Depreciation on factory building

Property taxes on factory building

$ $ $

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221 HW3 Ch 19 Ch 20

Question 4 of 10 - / 1

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(b)

The parts of this question must be completed in order. This part will be available when you complete the part above.

221 HW3 Ch 19 Ch 20

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