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    E1-4 Determine The Total Amount of Various Types of Costs: Instructions

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    Ngọc Khánh
    The document provides cost information for Knight Company in May. It lists various costs including factory utilities, depreciation on factory equipment, depreciation on a delivery truck, indirect factory labor, indirect materials, direct materials used, and factory manager's salary. It then asks to calculate the total manufacturing overhead, product costs, and period costs based on this information.

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    E1-4 Determine The Total Amount of Various Types of Costs: Instructions

    Uploaded by

    Ngọc Khánh
    131 views7 pages
    The document provides cost information for Knight Company in May. It lists various costs including factory utilities, depreciation on factory equipment, depreciation on a delivery truck, indirect factory labor, indirect materials, direct materials used, and factory manager's salary. It then asks to calculate the total manufacturing overhead, product costs, and period costs based on this information.

    Original Title

    E.12

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    The document provides cost information for Knight Company in May. It lists various costs including factory utilities, depreciation on factory equipment, depreciation on a delivery truck, indirect factory labor, indirect materials, direct materials used, and factory manager's salary. It then asks to calculate the total manufacturing overhead, product costs, and period costs based on this information.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    131 views7 pages

    E1-4 Determine The Total Amount of Various Types of Costs: Instructions

    Uploaded by

    Ngọc Khánh
    The document provides cost information for Knight Company in May. It lists various costs including factory utilities, depreciation on factory equipment, depreciation on a delivery truck, indirect factory labor, indirect materials, direct materials used, and factory manager's salary. It then asks to calculate the total manufacturing overhead, product costs, and period costs based on this information.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 7

    E1-4 Determine the total amount of various types of costs

    Knight Company reports the following costs and expenses in May.


    Factory utilities $15,500
    Depreciation on factory equipment 12,650
    Depreciation on delivery truck 3,800
    Indirect factory labor 48,900
    Indirect materials 80,800
    Direct materials used 137,600
    Factory manager's salary 8,000

    Instructions
    From the information, determine the total amount of:
    (a) Manufacturing overhead.
    (b) Product costs.
    (c ) Period costs.
    NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a

    (a) Determine the total amount of manufacturing overhead.

    Factory utilities Value


    Depreciation on factory equipment Value
    Indirect factory labor Value
    Indirect materials Value
    Factory manager's salary Value
    Property taxes on factory building Value
    Factory repairs Value
    Manufacturing overhead ?

    (b) Determine the total amount of product costs.

    Direct materials Value


    Direct labor Value
    Manufacturing overhead Value
    Product costs ?

    (c ) Determine the total amount of period costs.

    Depreciation on delivery trucks Value


    Sales salaries Value
    Repair to office equipment Value
    Advertising Value
    Office supplies used Value
    Period costs ?
    enses in May.
    Direct labor $69,100
    Sales salaries 46,400
    Property taxes on factory building 2,500
    Repairs to office equipment 1,300
    Factory repairs 2,000
    Advertising 15,000
    Office supplies used 2,640

    e; enter either a number or a formula in cells with a "?" .


    E1-12 Prepare a cost of goods manufactured schedule and a partial income statement
    Cepeda Corporation has the following cost records for June 2020.
    Indirect factory labor $4,500 Factory utilities
    Direct materials used 20,000 Depreciation, factory equipment
    Work in process, 6/1/20 3,000 Direct labor
    Work in process, 6/30/20 3,800 Maintenance, factory equipment
    Finished goods, 6/1/20 5,000 Indirect materials
    Finished goods, 6/30/20 7,500 Factory manager's salary

    Instructions
    (a) Prepare a cost of goods manufactured schedule for June 2020.
    (b) Prepare an income statement through gross profit for June 2020 assuming sales revenue is
    $92,100
    NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a

    (a) CEPEDA CORPORATION


    Cost of Goods Manufactured Schedule
    For the Month Ended June 30, 2020
    Work in process, June 1
    Direct materials used Value
    Direct labor Value
    Manufacturing overhead
    Indirect labor Value
    Factory manager's salary Value
    Indirect materials Value
    Maintenance, factory equipment Value
    Depreciation, factory equipment Value
    Factory utilities Value
    Total manufacturing overhead ?
    Total manufacturing costs
    Total cost of work in process
    Less: Work in process, June 30
    Cost of goods manufactured

    (b) CEPEDA CORPORATION


    Income Statement (partial)
    For the Month Ended June 30, 2020
    Sales Revenue
    Cost of goods sold
    Finished goods inventory, June 1 Value
    Cost of goods manufactured [from (a) above] Value
    Cost of goods available for sale ?
    Less: Finished goods inventory, June 30 Value
    Cost of goods sold
    Gross profit
    me statement

    $400
    1,400
    40,000
    1,800
    2,200
    3,000

    uming sales revenue is

    mber or a formula in cells with a "?" .

    Value

    ?
    ?
    Value
    ?

    Value
    ?
    ?

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