Computation of Manufacturing overhead, Product Cost and Period Cost

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Knight Company reports the following costs and expenses in May.
Factory utilities$ 12,898 Direct labor$72,085
Depreciation on factory equipment14,387 Sales salaries47,063
Depreciation on delivery trucks4,417 Property taxes on factory building2,622
Indirect factory labor50,428 Repairs to office equipment1,958
Indirect materials80,979 Factory repairs2,258
Direct materials used138,146 Advertising18,243
Factory manager's salary8,265 Office supplies used3,149

From the information, determine the total amount of: (a) Manufacturing overhead. (b) Product costs. (c) Period costs.

(a)Manufacturing overhead$[removed]
(b)Product costs$[removed]
(c)Period costs$[removed]
(a)Factory utilities$12,898
 Depreciation on factory equipment14,387
 Indirect factory labor50,428
 Indirect materials80,979
 Factory manager's salary8,265
 Property taxes on factory building2,622
 Factory repairs

2,258

 Manufacturing overhead

$171,837

(b)Direct materials$138,146
 Direct labor72,085
 Manufacturing overhead

171,837

 Product costs

$382,068

(c)Depreciation on delivery trucks$4,417
 Sales salaries47,063
 Repairs to office equipment1,958
 Advertising18,243
 Office supplies used

3,149

 Period costs

    • 14 years ago
    Computation of Manufacturing overhead, Product Cost and Period Cost
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