Accounting II

PA  1. 

LO 2.1 Ballentine Manufacturing produces and sells lawnmowers through a national dealership network. They purchase raw materials from a variety of suppliers, and all manufacturing and assembly work is performed at their plant outside of Kansas City, Missouri. They recorded these costs for the year ending December 31, 2017. Construct an income statement for Ballentine Manufacturing to reflect their net income for 2017.

PA  4. 

LO 2.2 Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost.

A. Wages of administrative staff

B. Shipping costs on merchandise sold

C. Wages of workers assembling computers

D. Cost of lease on factory equipment

E. Insurance on factory

F. Direct materials used in production of lamps

G. Supervisor salary, factory

H. Advertising costs

I. Property taxes, factory

J. Health insurance cost for company executives

K. Rent on factory

PA  5. 

LO 2.2 Wachowski Company reported these cost data for the year 2017.

Use the data to complete the following table.

Total prime costs
Total manufacturing overhead costs
Total conversion costs
Total product costs
Total period costs