Waterway, Inc., manufactures clamps used in the overhead bin latches of several

Question

Waterway, Inc., manufactures clamps used in the overhead bin latches of several leading airplane models. Greg Poole, president of Waterway, Inc., has gathered the following cost information from the company’s accounting records for the latest month of operations.

(a) Calculate the total period costs for the month.

(b) Calculate the total product costs for the month.

(c) Calculate the amount of manufacturing overhead incurred for the month.

Advertising $22,000 Fire insurance premium for the factory building $9,000 Sales office utilities $2,500 Air filters for the buffing machines used to produce the clamps $1,700 Aluminum used to produce the clamps $34,000 Rent on the factory building $9,000 Freight to ship the clamps to customers $2,500 Sales department executives’ salaries $32,000 Production supervisors’ salaries $15,000 Assembly line workers’ wages $45,000

Explanation / Answer

Part A

Part B

Part C

Advertising 22000 Sales office Utilities 2500 Freight to ship the clamps to customers 2500 Sales department executives’ salaries 32000 Total period costs 59000

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