Flint Company reports the following costs and expenses in May. From the informat

Question

Flint Company reports the following costs and expenses in May.

From the information:

From the information, determine the total amount of:

(a) Manufacturing overhead $

(b) Product costs $

(c) Period costs $

Factory utilities $17,000 Direct labor $70,400 Depreciation on factory equipment 13,550 Sales salaries 50,700 Depreciation on delivery trucks 4,300 Property taxes on factory building 3,200 Indirect factory labor 53,200 Repairs to office equipment 2,400 Indirect materials 85,600 Factory repairs 2,960 Direct materials used 137,700 Advertising 15,600 Factory manager’s salary 8,700 Office supplies used 3,510

Explanation / Answer

Computation of Manufacturing overhead Factory utilities $17,000.00 Depreciation on factory equipment $13,550.00 Indirect factory labor $53,200.00 Indirect materials $85,600.00 Factory manager’s salary $8,700.00 Property taxes on factory building $3,200.00 Factory repairs $2,960.00 Total $1,84,210.00 b) Computation of Product costs Direct materials $1,37,700.00 Direct labor $70,400.00 Manufacturing overhead $1,84,210.00 Total $3,92,310.00 c) Computation of Period costs Depreciation on delivery trucks $4,300.00 Sales salaries $50,700.00 Repairs to office equipment $2,400.00 Advertising $15,600.00 Office supplies used $3,510.00 Total $76,510.00

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