Question 1 Knight Company reports the following costs and expenses in May $17,20

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Question 1 Knight Company reports the following costs and expenses in May $17,200 Direct labor Factory utilities Depreciation on factory equipment $69,600 13,350 Sales salaries 51,500 Property taxes on factory Repairs to office equipment Factory repairs Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 4.300 52,400 80,900 3,600 1,400 2,950 15,600 3,500 139,700 Advertising 8,600 Office supplies used From the information: Determine the total amount of manufacturing overhead Manufacturing overhead LINK TO TEXT Determine the total amount of product costs. Product costs LINK TO TEXT Determine the total amount of period costs Period costs

Explanation / Answer

a Factory utilities 17200 Depreciation on factory equipment 13350 Indirect factory labor 52400 Indirect materials 80900 Factory manager’s salary 8600 Property taxes on factory building 3600 Factory repairs 2950 Manufacturing Overhead 179000 b Direct materials 139700 Direct labor 69600 Manufacturing overhead 179000 Product costs 388300 c Depreciation on delivery trucks 4300 Sales salaries 51500 Repairs to office equipment 1400 Advertising 15600 Office supplies used 3500 Period costs 76300

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