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Assignment 1-157
1. Whippany manufacturing wants to estimate costs for each product they produce at
its Troy plant. The Troy plant produces three products at this plant, and runs two
flexible assembly lines. Each assembly line can produce all three products.
Required:
a. Classify each of the following costs as either direct or indirect for each product.
b. Classify each of the following costs as either fixed or variable with respect to the
number of units produced of each product.
Answer:
a.,b.
Direct Indirect Fixed Variable
Assembly line labor wages
X
Plant manager's wages
Depreciation on the assembly line equipment
Component parts for the product
X
Wages of security personnel for the factory
X
X
X
X
X
X
X
X
2. Messinger Manufacturing Company had the following account balances for the
quarter ending March 31, unless otherwise noted:
Work-in-process inventory (January 1)
$ 140,400
Work-in-process inventory (March 31)
171,000
Finished goods inventory (January 1)
540,000
Finished goods inventory (March 31)
510,000
Direct materials used
378,000
Indirect materials used
84,000
Direct manufacturing labor
480,000
Indirect manufacturing labor
186,000
Property taxes on manufacturing plant building 28,800
Salespersons' company vehicle costs
12,000
Depreciation of manufacturing equipment
264,000
Depreciation of office equipment
123,600
Miscellaneous plant overhead
135,000
Plant utilities
92,400
General office expenses
305,400
Marketing distribution costs
30,000
Required:
a. Prepare a cost of goods manufactured schedule for the quarter.
b. Prepare a cost of goods sold schedule for the quarter.
Answer:
a.
Messinger Manufacturing Company
Cost of Goods Manufactured Schedule
For quarter ending March 31
Direct materials used
Direct manufacturing labor
Manufacturing overhead
Depreciation of manufacturing equipment $264,000
Indirect manufacturing labor
186,000
Indirect materials
84,000
Miscellaneous plant overhead
135,000
Plant utilities
92,400
Property taxes on building
28,800
Manufacturing costs incurred
Add beginning work-in-process inventory
Total manufacturing costs
Less ending work-in-process inventory
Cost of goods manufactured
b.
Messinger Manufacturing Company
Cost of Goods Sold Schedule
For the quarter ending March 31
Beginning finished goods inventory
Cost of goods manufactured
Cost of goods available for sale
Ending finished goods inventory
Cost of goods sold
$ 540,000
1,617,600
2,157,600
(510,000)
$1,647,600
$ 378,000
480,000
790,200
$1,648,200
140,400
$1,788,600
(171,000)
$1,617,600