Solved: Forham inc manufactures stainless steel knives following, Financial Accounting

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Forham inc manufactures stainless steel knives following

Forham Inc. manufactures stainless steel knives. Following are factory costs incurred during 2010:

Material costs
Stainless steel ...........................................$800,000
Equipment oil and grease .............................. 6,000
Plastic for handles ....................................... 5,600
Wood blocks for knife storage .......................... 24,800
Labor costs
Equipment operators ...................................$500,000
Equipment mechanics ................................. 82,000
Factory supervisors .................................... 272,000

a. What is the direct material cost for 2010?

b. What is the direct labor cost for 2010?

c. What is the total indirect material cost and the indirect labor cost for 2010?

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Financial Accounting: Forham inc manufactures stainless steel knives following

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Financial Accounting: Forham inc manufactures stainless steel knives following

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