Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Period costs for a manufacturing company would flow directly to

10/11/2021 Client: muhammad11 Deadline: 2 Day

E16.1, E16.2, E16.3, E16.6

Complete the following activities from theFinancial & Managerial Accounting textbook:

BE16.9 -

Star Repairs Co. does all the repair work for a medium-sized manufacturer of handheld computer

games. The games are sent directly to Star, and after the games are repaired, Star bills the game

manufacturer for cost plus a 20 percent markup. In the month of February, purchases of parts

(replacement parts) by Star amounted to $97,000, the beginning inventory of parts was $38,500,

and the ending inventory of parts was $15,250. Payments to repair technicians during the month of

February totaled $52,500. Overhead incurred was $121,000.

a. What was the cost of materials used for repair work during the month of February?

b. What was the prime cost for February?

c. What was the conversion cost for February?

d. What was the total repair cost for February?

E16.1

E16.2

E16.3

E16.6

Listed below are eight technical accounting terms introduced or emphasized in this chapter:

LO16-1 through LO16-5

EXERCISE 16.1

Accounting Terminology

Work in Process Inventory Cost of finished goods manufactured

Conversion costs Cost of Goods Sold

Period costs Management accounting

Product costs Manufacturing overhead

Each of the following statements may (or may not) describe one of these technical terms. For each

statement, indicate the accounting term described, or answer “None” if the statement does not correctly

describe any of the terms.

a. The preparation and use of accounting information designed to assist managers in planning and

controlling the operations of a business.

b. All manufacturing costs other than direct materials used and direct labor.

c. Direct materials and direct labor used in manufacturing a product.

d. A manufacturing cost that can be traced conveniently and directly to manufactured units of

product.

e. The account debited at the time that the Manufacturing Overhead account is credited.

f. The amount transferred from the Work in Process Inventory account to the Finished Goods

Inventory account.

g. Costs that are debited directly to expense accounts when the costs are incurred.

Into which of the three elements of manufacturing cost would each of the following be classified?

a. Tubing used in manufacturing bicycles.

b. Wages paid by an automobile manufacturer to employees who test-drive completed automobiles.

c. Property taxes on machinery.

d. Gold bullion used by a jewelry manufacturer.

e. Wages of assembly-line workers who package frozen food.

f. Salary of plant superintendent.

g. Electricity used in factory operations.

h. Salary of a nurse in a factory first-aid station.

Indicate whether each of the following should be considered a product cost or a period cost. If

you identify the item as a product cost, also indicate whether it is a direct or an indirect cost. For

example, the answer to item 0 is “indirect product cost.” Begin with item a.

0. Property taxes on factory building.

a. Cost of disposal of hazardous waste materials to a chemical plant.

b. Amounts paid by a mobile home manufacturer to a subcontractor who installs plumbing in each

mobile home.

c. Depreciation on sales showroom fixtures.

d. Salaries of security guards in an administrative office building.

EXERCISE 16.2

Basic Types of

Manufacturing Costs

LO16-2

EXERCISE 16.3

Product Costs

and Period Costs

LO16-3, LO16-5

744 Chapter 16 Management Accounting

e. Salaries of factory security guards.

f. Salaries of office workers in the credit department.

g. Depreciation on the raw materials warehouse.

h. Income taxes on a profitable manufacturing company.

The Ryde and Rowe Inc. had the following account balances as of January 1:

EXERCISE 16.6

Flow of Costs through

Manufacturing Accounts

LO16-3 through LO16-5

Direct Materials Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 89,200

Work in Process Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 178,400

Finished Goods Inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253,600

Manufacturing Overhead . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –0–

During the month of January, all of the following occurred:

1. Direct labor costs were $442,000 for 18,000 hours worked.

2. Direct materials costing $335,750 and indirect materials costing $13,500 were purchased.

3. Sales commissions of $216,500 were earned by the sales force.

4. $326,000 worth of direct materials were used in production.

5. Advertising costs of $36,300 were incurred.

6. Factory supervisors earned salaries of $22,000.

7. Indirect labor costs for the month were $23,000.

8. Monthly depreciation on factory equipment was $24,500.

Exercises 745

9. Utilities expense of $17,800 was incurred in the factory.

10. Equipment with manufacturing costs of $970,100 were transferred to finished goods.

11. Monthly insurance costs for the factory were $4,200.

12. $5,000 in property taxes on the factory were incurred and paid.

13. Equipment with manufacturing costs of $1,089,000 were sold for $1,550,000.

Instructions

a. If Ryde and Rowe assigns manufacturing overhead of $84,400, what will be the balances in

the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of

January?

b. As of January 31, what will be the balance in the Manufacturing Overhead account?

c. What was Ryde and Rowe’s operating income for January?

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Instant Assignment Writer
Accounting & Finance Master
Buy Coursework Help
Quality Homework Helper
A Grade Exams
Writing Factory
Writer Writer Name Offer Chat
Instant Assignment Writer

ONLINE

Instant Assignment Writer

I am an academic and research writer with having an MBA degree in business and finance. I have written many business reports on several topics and am well aware of all academic referencing styles.

$25 Chat With Writer
Accounting & Finance Master

ONLINE

Accounting & Finance Master

I have written research reports, assignments, thesis, research proposals, and dissertations for different level students and on different subjects.

$19 Chat With Writer
Buy Coursework Help

ONLINE

Buy Coursework Help

I have done dissertations, thesis, reports related to these topics, and I cover all the CHAPTERS accordingly and provide proper updates on the project.

$43 Chat With Writer
Quality Homework Helper

ONLINE

Quality Homework Helper

I reckon that I can perfectly carry this project for you! I am a research writer and have been writing academic papers, business reports, plans, literature review, reports and others for the past 1 decade.

$44 Chat With Writer
A Grade Exams

ONLINE

A Grade Exams

After reading your project details, I feel myself as the best option for you to fulfill this project with 100 percent perfection.

$22 Chat With Writer
Writing Factory

ONLINE

Writing Factory

I can assist you in plagiarism free writing as I have already done several related projects of writing. I have a master qualification with 5 years’ experience in; Essay Writing, Case Study Writing, Report Writing.

$23 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

I need 1400 words report on Omani Company - Mental Disorder Project - Nick bottom character traits - Cell organelles worksheet doc answer key - Kagan rally coach worksheets - Monster hunter rise warm pelt - Del lago partners v smith - Uniqlo porter's five forces - Accord info matrix reviews glassdoor - C2 molecular orbital diagram - Week 1 project - Knowledge work nursing informatics - Hundreds and hundredths - The apathetic organizational culture exhibits - Which of these investors earn returns from receiving dividends and from stock price appreciation? - Types of energy poster project - Heavy letters in arabic - Saroj thakur nit hamirpur - Epidemiology Essay - Questions about solids liquids and gases - Write a program that scores a blackjack hand - Trampoline nets big w - Kinaesthetic visual auditory learning - Kellys plaice north walsham - Presentation Powerpoint making(Climate change)(due on Sep 30th) - MILITARY DEATHS - 3 Lecture Questions 400-800 DUE IN 1 HOUR!!!! 11PM!!! - Cityof goldcoast com au payments - . I need 2400 words on MNIST - Capstone Assignment - 5 Pages - $35 - Human Resources & Project Management Expert Needed. APA Experts ONLY! - Stage front crossword clue - Are dimples a dominant or recessive gene - Informative speech on starbucks - Week 5 forum 2 scott - Toyota business level strategy analysis - Word chapter 3 simulation exam - Summarize the three most important items for importance of having a role model and mentor and developing relationships, encouraging diversity, and providing effective feedback - Ib business and management past papers 2017 - St peter and st james hospice warehouse - A5 measurements in mm - Assignment: Assessing a Healthcare Program/Policy Evaluation - Social determinants of health worksheet - Deliverable 6 – 5500 Conflict Management and Negotiation Strategies - Topik level 1 practice test - What is a compound complex sentence - Dissent from secondary use of patient identifiable data - What are the four listening styles - Which of the following best describes the “7x7” powerpoint rule? - DiscussionBN - Gloucester royal hospital parking - External insulation planning permission - How's business math worksheet c 69 - Heron 3.0 air conditioner parts - Stages of lightening dark hair - Htc and virtual reality case analysis - Hooters weight requirements - Economic Assignment - The four agreements lesson plan - Fairy tail makarov vs jose - Create a scenario summary report excel 2013 - An autographed baseball rolls off - Suspense in the most dangerous game worksheet answers - Berrima district credit union internet banking - Selected transactions for sophie’s dog care are as follows during the month of march. - Apple supply chain management case study - Nursing. - Imogene king conceptual system - Promatect h board price - Bioflix activity homeostasis low blood glucose - 10 quarry ramble edgewater - Need a Kenyan writer - Mcconnell brue flynn economics answers - The a992 steel shaft has a diameter - Posted Below - Ap psychology developmental psychology - A survey of hinduism pdf - Download the file below - Employee engagement project charter - Draw a triangle with two obtuse angles - Discussion-4 - (ROK) WEEK 8 HOMEWORK FIN100 - Two body relaxation time - Marriott announces starwood guest reservation database security incident - Blog Post - Into the woods waapa - Jazz concert report sample - Authentic leadership self assessment questionnaire citation - Katch mcardle formula tdee - Unit of study code - 367 - Wuthering heights family tree - DB a guide to clinical and preventive services - Holden caulfield mental illness essay - Fluid friction measurement apparatus - Case study myasthenia gravis patient - The perfect picture james thom pdf - Articulating your philosophy of nursing - Sutton hoo shoulder clasps - Python coding for bmi - What are faults in geography