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The following cost data for the year just ended pertain to Sentiments, Inc., a greeting card...

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Accounting

The following cost data for the year just ended pertain toSentiments, Inc., a greeting card manufacturer:

Direct material$2,200,000
Advertising expense98,000
Depreciation on factorybuilding115,000
Direct labor: wages535,000
Cost of finished goods inventoryat year-end115,000
Indirect labor: wages142,000
Production supervisor’ssalary47,000
Service department costs*100,000
Direct labor: fringebenefits99,000
Indirect labor: fringebenefits30,000
Fringe benefits for productionsupervisor11,000
Total overtime premiumspaid55,000
Cost of idle time: productionemployees§40,000
Administrative costs150,000
Rental of office space for salespersonnel†15,000
Sales commissions6,000
Product promotion costs10,000

*All services are provided to manufacturing departments.

§Cost of idle time is an overhead item; it is not included inthe direct-labor wages given above.

The rental of sales space was made necessary when the salesoffices were converted to storage space for raw material.

Compute each of the following costs for the year just ended

a.Total prime cost

Total manufacturing overhead costs

Total conversion costs

Totalproduct costs

Totalperiod costs


Answer & Explanation Solved by verified expert
4.4 Ratings (669 Votes)
a Total Primecost Direct materials 2200000 Direct Labour Wages 535000 Fringe benifits 99000 634000 2854000 Total Manufacturing Overheads Depreciation on Factory building 115000 Indirect labour Wages 142000 Fringe benifits    See Answer
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