COMM 305 Chapter Notes - Chapter 2: Net Income, Income Statement, Indirect Costs

• School: Concordia University
• Department: Commerce
• Course: COMM 305
• Professor: Ibrahim Aly

Document Summary

Hourly wages of furniture craftsmen: salaries of factory supervisors, utilities expense, telephone bill. Thus, maintenance costs are ,480 per month plus sh. 44 per machine hour. Problem 2-57b (a) cost of goods sold = = million (b) total factory overhead cost = = million (d) total product costs = dm + dl + moh = Gross profit = ,000 20% = ,000. Cost of goods sold = ,000 ,000 = ,000. Con = ,000 + (40% con) (0. 6 con) = ,000. Dm + dl = 0. 70(dm + dl + foh) 1. 0dm 0. 70dm = 0. 70(dl + foh) dl. Total manufacturing costs = ,000 + ,000 + ,000 = Ending wip = 10% tmc = 0. 10 ,000 = ,000. Cogm = bwip + tcm ewip = ,000 + ,000 ,000 = Edmi = bdmi + dm purchases dm used. Total costs of production (b) direct materials, beginning. Direct materials used (c) direct costs of production.