1) Lettman Corporation has provided the following partial listing of costs incurred during November: Marketing salaries $ 52,100 Property taxes, factory $ 12,400 Administrative travel $ 100,800 Sales commissions $ 52,800 Indirect labor $ 38,400 Direct materials $ 173,900 Advertising $ 139,900 Depreciation of production equipment $ 39,100 Direct labor $ 87,400 Required: a. What is the total amount of product cost listed above? (Omit the “$” sign in your response.) Total product cost $ b.
1) Lettman Corporation has provided the following partial listing of costs incurred during November: ? ? ?? Marketing salaries?$?52,100 ?? Property taxes, factory?$?12,400 ?? Administrative travel?$?100,800 ?? Sales commissions?$?52,800 ?? Indirect labor?$?38,400 ?? Direct materials?$?173,900 ?? Advertising?$?139,900 ?? Depreciation of production equipment?$?39,100 ?? Direct labor?$?87,400 ?????Required: a.?What is the total amount of product cost listed above? (Omit the “$” sign in your response.)?? Total product cost?$ ?? b.?What is the total amount of period cost listed above? (Omit the “$” sign in your response.)?? Total period cost?$ ?? 2) Whitman Corporation, a merchandising company, reported sales of 10,600 units for May at a selling price of $750 per unit. The cost of goods sold (all variable) was $492 per unit and the variable selling expense was $55 per unit. The total fixed selling expense was $162,400. The variable administrative expense was $33 per unit and the total fixed administrative expense was $375,400.?? Required:??a.?Prepare a contribution format income statement for May. (Input all amounts as positive values. Omit the “$” sign in your response.)?? ?? Whitman Corporation?Income Statement?? ? ?$ ?? Variable expenses:? ? ?? ?$ ? ?? ? ? ?? ? ? ?? ???? ? ? ?? Fixed expenses:? ? ?? ? ? ?? ? ? ?? ? ??? ? ?$ ?? ? ? ???? b.?Prepare a traditional format income statement for May. (Input all amounts as positive values. Omit the “$” sign in your response.)?? Whitman Corporation?Income Statement?? ? ?$ ?? ? ? ?? ???? ? ? ?? Operating expenses:? ? ?? ?$ ? ?? ? ? ?? ? ??? ? ?$ ?? ? ? ????3) In October, Patnode Inc., a merchandising company, had sales of $373,000, selling expenses of $34,800, and administrative expenses of $42,400. The cost of merchandise purchased during the month was $268,600. The beginning balance in…
Attachments: