The following information relates to Myer, Inc.: Advertising Costs Sales Salary Sales Revenue President's Salary Office Rent Manufacturing Equipment Depreciation Indirect Materials Used Indirect Labor Factory Repair and Maintenance Direct Materials Used Direct Labor Delivery Vehicle Depreciation Administrative Salaries $10,600 10,000 500,000 230,000 60,500 1200 8000 13,000 920 27,500 36,000 1550 22,000 How much were Myer's product costs? A) $604,650 B) $252,000 C) $510,600 D) $86,620

The following information relates to Myer, Inc.: Advertising Costs Sales Salary Sales Revenue President's Salary Office Rent Manufacturing Equipment Depreciation Indirect Materials Used Indirect Labor Factory Repair and Maintenance Direct Materials Used Direct Labor Delivery Vehicle Depreciation Administrative Salaries $10,600 10,000 500,000 230,000 60,500 1200 8000 13,000 920 27,500 36,000 1550 22,000 How much were Myer's product costs? A) $604,650 B) $252,000 C) $510,600 D) $86,620

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 4EB: Roper Furniture manufactures office furniture and tracks cost data across their process. The...

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The Darwin Company reports the following information: Sales $76,500 Direct materials used 7,300 Depreciation on factory equipment 4,700 Indirect labor 5,900 Direct labor 10,500 Factory rent 4,200 Factory utilities 1,200 Sales salaries expense 15,600 Office salaries expense 8,900 Indirect materials 1,200 Product costs are a.$24,500 b.$30,300 c.$35,000 d.$29,200 Which of the following are the two main types of cost accounting systems for manufacturing operations? a.process cost and general accounting systems b.job order and general accounting systems c.job order cost and process cost systems d.process cost and replacement cost systems