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elena55 [62]
3 years ago
14

Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 36,100

Company advertising 24,200 Wages paid to seamstresses 76,200 Depreciation on salespersons' vehicles 30,600 Thread 1,020 Utilities for factory 24,600 Cutting room supervisor's salary 31,300 President’s salary 76,900 Premium quality cotton material 41,300 Buttons 750 Factory insurance 19,100 Depreciation on sewing machines 6,500 Wages paid to cutters 50,100 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute the cost of direct labor for Cotton White. 3. Compute the cost of manufacturing overhead for Cotton White. 4. Compute the total manufacturing cost for Cotton White. 5. Compute the prime cost for Cotton White. 6. Compute the conversion cost for Cotton White. 7. Compute the total period cost for Cotton White.
Business
1 answer:
salantis [7]3 years ago
7 0

Answer:

1) Direct materials=$43070

2)Direct labor=$126300

3)Manufacture overhead=$117600

4)Total manufacturing cost=$286970

5)Prime cost=$169370

6)Conversion costs = 126300+117600= $243900

7)Total period cost= $418670

Explanation:

The company reported the following costs for 2018:

1) Direct materials

Thread 1,020

Premium quality cotton material 41,300

Buttons 750

Total= $43070

2)Direct labor

Wages paid to seamstresses 76,200

Wages paid to cutters 50,100

Total= $126300

3) Manufacture overhead

Factory rent $ 36,100

Utilities for factory 24,600

Cutting room supervisor's salary 31,300

Factory insurance 19,100

Depreciation on sewing machines 6,500

Total= $117600

Notice that marketing, Depreciation on salespersons' vehicles and president's salary are not part of manufacturing overhead.

4)Total manufacturing cost=$43070+126300+117600=$286970

5)Prime cost= direct material + direct labor=43070+126300=$169370

6)Conversion costs = Direct labor + Manufacturing overhead= 126300+117600= $243900

7)Total period cost= manufacturing cost + Company advertising + Depreciation on salespersons' vehicles + President’s salary

Total period cost= 286970 + 24200 + 30600 + 76900= $418670

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The total cost of producing a given level of output is:____.
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Lense Laboratories' net income was $260,000. Given the account information below, what is the net cash flows from operating acti
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Answer:

The question is incomplete, below is the completed question:

Lense Laboratories' net income was $250,000. Given the account information below, what is the net operating cash flows for Lense Laboratories?

Increase In Accounts Receivable...$60,000

Increase In Salaries Payable...$50,000

Decrease In Inventory...$30,000

Depreciation Expense...$45,000

Increase In Prepaid Insurance...$3,000

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$312,000 (c.)

Explanation:

operating cash flow is the number of cash generated by a business' regular operating activities within a specific time period.

The formula for net operating cash flow is as follows:

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