Langston Company manufactures coats. Costs for February were as follows:Direct materials$19,650Direct labor15,210Factory insurance950Sales commissions4,700Corporate executive salaries5,500Factory supervisor salary3,500Indirect materials1,920Required: Calculate the total manufacturing cost for February.
What will be an ideal response?
Direct materials | $19,650 |
Direct labor | 15,210 |
Factory insurance | 950 |
Factory supervisor salary | 3,500 |
Indirect materials | 1,920 |
Total | $41,230 |
You might also like to view...
The journal entry for the receipt of a cash payment on common stock subscriptions would include
a. debiting Cash and crediting Common Stock Subscriptions Receivable. b. debiting Cash and crediting Common Stock. c. debiting Common Stock and crediting Common Stock Subscriptions Receivable. d. debiting Common Stock Subscriptions Receivable and crediting Common Stock.
Julie Webb, CPA takes out an automobile loan with First national Bank of Wellville (FNBW) while attending the University of Wellville. Julie graduates one year later and is hired as an auditor by Best and Driftwood, LLP. Her first assigned audit engagement is with First national Bank of Wellville, a client of Best and Driftwood. As a new audit assistant, Julie continues to pay her automobile loan
payments each month. According to the AICPA, why is Julie is considered a covered member for FNBW independence purposes? a. She will be working on the engagement. b. She has a direct financial interest in FNBW. c. She graduated in the same area as the client is operating. d. She has an immaterial direct financial interest in FNBW.
Assume that the custodian of a $450 petty cash fund has $56.30 in coins and currency plus $389.00 in receipts at the end of the month. The entry to replenish the petty cash fund will include:
A. A credit to Cash Over and Short for $4.70. B. A debit to Cash for $393.70. C. A credit to Cash for $393.70. D. A debit to Petty Cash for $389.00. E. A debit to Cash for $384.30.
A good times interest earned record would be indicated by a relatively high, stable coverage for the times interest earned coverage
Indicate whether the statement is true or false