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2 years ago

6

Kennedy Company reports the following costs and expenses in May.

1 answer:

mamaluj [8]2 years ago

4 0

Answer:

a. $161,350

b. $398,050

c. $81,140

Explanation:

<u>Total amount of manufacturing overhead</u>

Factory utilities $16,500

Depreciation on factory equipment $12,650

Indirect factory labor $48,900

Indirect materials $70,800

Factory manager's salary $8,000

Property taxes on factory building $2,500

Factory repairs $2,000

Total $161,350

Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.

<u>The total amount of product costs</u>

Direct materials used $157,600

Direct labor $79,100

Manufacturing Overhead $161,350

Total $398,050

Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.

<u>The total amount of period costs</u>

Depreciation on delivery trucks $3,800

Sales salaries $48,400

Repairs to office equipment $1,300

Advertising $23,000

Office supplies used $4,640

Total $81,140

Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.

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