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Homework answers / question archive / Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes

Accounting

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie’s product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow:

     
Factory rent $ 3,110
Company advertising   1,190
Wages paid to assembly workers   30,800
Depreciation for salespersons’ vehicles   2,180
Screws   575
Utilities for factory   830
Assembly supervisor’s salary   3,610
Sandpaper   105
President’s salary   5,150
Plastic tubing   4,060
Paint   235
Sales commissions   1,280
Factory insurance   1,050
Depreciation on cutting machines   2,050
Wages paid to painters   8,500
 

3. Determine the total cost for each of the following:

 
 
     
a. Direct Materials $4,060
b. Direct Labor $39,300
c. Manufacturing Overhead $11,565
d. Prime Cost $43,360
e. Conversion Cost $50,865
f. Total Product Cost $54,925
g. Total Period Cost ?
h. Total Variable Cost ?
i. Total Fixed Cost ?

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