E1-13 (Algo) Classifying and Calculating Cost [LO 1-4) Noteworthy, Inc., produces and sells small electronic...
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E1-13 (Algo) Classifying and Calculating Cost [LO 1-4) Noteworthy, Inc., produces and sells small electronic keyboards. Assume that you have the following information about Noteworthy's costs for the most recent month. Depreciation on factory equipment $ 850 Depreciation on CEO's company car Speakers used in the keyboard 1,300 Production supervisor's salary 2, 360 Glue and screws used in the keyboards Wages of persons who install the speakers 2,820 Cost to run an ad on local radio stations 670 Utilities for the factory 1,250 Personnel manager's salary 2,520 Wages of person who attaches legs to keyboards 1,990 Required: 1. Calculate the total product cost for Noteworthy. 2. Calculate the prime cost for Noteworthy. 3. Calculate the manufacturing overhead for Noteworthy. 4. Calculate the direct labor for Noteworthy. 5. Calculate the conversion cost for Noteworthy. 6. Calculate the total variable cost (with number of units produced as the activity) for Noteworthy. 7. Calculate the total fixed cost (with number of units produced as the activity) for Noteworthy. 1. Total Product Cost 2. Prime Cost 3. Manufacturing Overhead 4. Direct Labor Cost 5. Conversion Cost 6. Total Variable Cost 7. Total Fixed Cost
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