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OverLord2011 [107]
3 years ago
10

Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent $ 42,000

Company advertising 18,000 Wages paid to seamstresses 75,000 Depreciation on salespersons' vehicles 25,000 Thread 1,000 Utilities for factory 22,000 Cutting room supervisor's salary 30,000 President's salary 75,000 Premium quality cotton material 42,000 Buttons 750 Factory insurance 15,000 Depreciation on sewing machines 6,000 Wages paid to cutters 50,000 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:
Doss [256]3 years ago
8 0

Answer:

Results are below.

Explanation:

<u>1) Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.</u>

<u></u>

Direct material= Thread + Premium quality cotton material + Buttons

Direct material= 1,000 + 42,000 + 750

Direct material= $43,750

<u>2) Direct labor is production or service labor that is assigned to a specific product, cost center, or work order.  </u>

Direct labor= Wages paid to seamstresses  + Wages paid to cutters Direct labor= 75,000 + 50,000

Direct labor=  $125,000

<u>3) Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured</u><u>.</u>

Manufacturing overhead= Factory rent + Utilities for factory + Cutting room supervisor's salary + Factory insurance + Depreciation on sewing machines

Manufacturing overhead= 42,000 + 22,000 + 30,000 + 15,000 + 6,000

Manufacturing overhead= $115,000

4) Total manufacturing costs= 43,750 + 125,000 + 115,000

Total manufacturing costs= $283,750

5) Prime cost= direct material + direct labor

Prime cost= 43,750 + 125,000

Prime cost= $168,750

6) Conversion cost= direct labor + MOH

Conversion cost= 125,000 + 115,000

Conversion cost= $240,000

7) <u>Period costs are not directly tied to the production process</u>. Overhead or sales, general, and administrative (SG&A) costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

Period costs= Company advertising + Depreciation on salespersons' vehicles + President's salary

Period costs= 18,000 + 25,000 + 75,000

Period costs= $118,000

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<h2><u>Answer:  </u></h2>

<u>Accounting</u>:

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Reports on an entity’s assets, liabilities, and stockholders’ equity as of a specific date (I)

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3 years ago
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Although humans made stone tools for 200,000 years the most sophisticated form and last complete stone tool kit is the ________,
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Although humans made stone tools for 200,000 years the most sophisticated form and last complete stone tool kit is the <u>crude stone tools </u>represented by: the awl, atlatl and bow & arrow.

<h3 /><h3>What were crude stone tool?</h3>

Any tool that is partially or totally fashioned out of stone is considered a stone tool in the broadest definition. Even if there are still societies and cultures that rely on stone tools, most of them are related to extinct prehistoric (especially Stone Age) cultures.

Archaeologists frequently research these prehistoric societies, and the examination of stone tools is known as lithic analysis. To deepen our understanding of the cultural ramifications of stone tool use and production, ethnoarchaeology has been a useful research field.

Arrowheads, spearheads, hand axes, and querns are just a few examples of the numerous tools made from stone throughout history. Stone can be ground into tools or it can be shaped by a flintknapper into knapped implements.

Learn more about stone tool

brainly.com/question/1446731

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1 year ago
What would you do if you were in the position of the business executives described in the “gift giving and the african elder” ca
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The business executives were further complicating a situation that was even that complicated to begin with. Tribal elder or not, the business executives were informed that the man was a tribal elder, thus following through with the gift giving customs. This type of act walks hand and hand with the philosophy behind sending something a card. This act should be seen as an act of respect and continued growth, nothing more. This gift should not have been foreseen as an unethical compromise of any <span>kind, but rather a token of appreciation.

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3 years ago
Cute Camel Woodcraft Company just reported earnings after tax (also called net income) of $9,750,000 and a current stock price o
Assoli18 [71]

Answer:

Explanation:

a)

earning per share =  Net income / outstanding shares  

= $9,750,000 / 5,500,000  = $1.77

price earning ratio = Current stock price \  earning per share

= $39.50 \ $1.77  = 22.32

new Earning per share = Net income / outstanding shares

= $9,750,000 * 125% / 8,400,000  = $1.45

the stock price after one year would be

= Price earning ratio * New earning per share  = 22.32 * $1.45  = $32.36

b)

Market to book ratio = Market value/ book value  

Market value = Share price * number of outstanding shares

= $47.12 * 8,400,000 shares  = $395,808,000

book value is $54,364,800

M/B = $395,808,000 / $54,364,800  = 7.28 times

Is it possible for a company to exhibit a negative EPS and thus a negative P/E ratio?

Yes, if company is having losses

7 0
3 years ago
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telo118 [61]

Answer:

$76,134.84

Explanation:

Data provided in the given question

Future value = $105,000

Fixed interest rate = 4.1%

Number of years = 8

The calculation of present value is given below:-

= Future value ÷ (1 + rate of return)^number of years

= $105,000 ÷ (1 + 4.1%)^8

= $105,000 ÷ 1.379132002

= $76,134.84

Therefore, we simply applied the present value formula.

6 0
3 years ago
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