WebSep 7, 2024 · The period costs is $24,500 a) Product costs Cost of direct materials used in production $7,300 Depreciation on factory equipment $4,700 Indirect labor $5,900 Direct labor $10,500 Factory rent $4,200 Factory utilities $1,200 Indirect materials $1,200 Total Product Cost s $35,000 b) Period costs Sales salaries expense $15,600 WebApr 12, 2024 · Rent of factory land and buildings Insurance of factory buildings, plant and machinery, stock of raw materials, and so on Municipal taxes and rates Expenses of …
The Putney Company reports the following information - Brainly
If a company's monthly rent is for use of assets involved in its selling function (rent for office space, equipment, autos, etc.) or its administrative function of the company, the rent is a period cost and will be expensed in the period when the expenseis incurred. These rents are not allocated to products for its external … See more Rent expense is often a monthly amount paid by a company for use of a building. Typically, the rent is due on the first day of every month that the building is occupied. See more A product cost is a cost that is either directly or indirectly assigned to the goods that are produced or manufactured by the company. Product costs are the raw materials, labor, and … See more A period cost is a cost that is used up or expires in the accounting period. As a result, the cost is reported as an expense on the income statement. See more If a manufacturer rents its manufacturing facilities and equipment, the rent is a product cost (as opposed to an expense of the period). That is, the rents will be included in the … See more WebYou can postpone the buyback process and allow the home to continue appreciating in value, or cover the difference in cost yourself. You can also simply walk away from the … queen of mystery novels crossword clue
Period Costs vs. Product Costs: What
WebJun 17, 2024 · Total product cost is = Direct materials + Direct labor + Manufacturing overhead = $216,000 + $120,000 + $147,300 = $483,300 The product cost includes direct material, direct labor and manufacturing overhead cost 3. Total period cost is = Selling expenses + Administrative expenses = $129,000 + $215,000 = $344,000 WebDec 12, 2024 · The period costs the manufacturing company can expense in the period incurred include $4,280 in office rent, $3,120 in marketing materials and $24,700 in … WebThe Putney Company reports the following information: Sales $76,500 Cost of direct materials used in production 7,300 Depreciation on factory equipment 4,700 Indirect labor 5,900 Direct labor 10,500 Factory rent 4,200 Factory utilities 1,200 Sales salaries expense 15,600 Office salaries expense 8,900 Indirect materials 1,200 a. queen of myth and monsters epub