Problem
Knight Company reports the following costs and expenses in May.
|
Factory utilities
|
$16,114
|
Direct labor
|
$70,182
|
|
Depreciation on factory equipment
|
14,721
|
Sales salaries
|
49,177
|
|
Depreciation on delivery trucks
|
4,866
|
Property taxes on factory building
|
3,414
|
|
Indirect factory labor
|
50,704
|
Repairs to office equipment
|
2,082
|
|
Indirect materials
|
81,574
|
Factory repairs
|
2,699
|
|
Direct materials used
|
141,450
|
Advertising
|
15,167
|
|
Factory manager's salary
|
8,608
|
Office supplies used
|
3,549
|
From the information, determine the total amount of:
(a) Manufacturing overhead
(b) Product costs
(c) Period costs.