Solution-Difference between period cost and product costs

Difference between period cost and product costs

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Reference no: EM131759688

Difference between period cost and product costs

Cougar One, a manufacturer, reports costs for the year as follows:

Direct Materials Used	$100,000
Wages to Line Workers	50,000
Office Rent	30,000
Indirect Materials Used	200,000

How much is the total period costs for Cougar One?

Period Costs are only $30,000

$100K Direct material (DLM;

50K Direct Labor (DL) :

200K = Manufacturing overhead (MOH)

Calculating Cost of Goods sold

Cougar Two. reports the following cost information for the year :

Cost of Goods Manufactured	$70.000
Manufacturing Overhead	20,000
Finished Goods Inventory, March 1	5000
Finished Goods Inventory, March 31	1000
Work-in-Process Inventory, March 1	9,000
Work-in-Process Inventory, March 31	2,000
Direct Materials Used	25,600

What is the cost of goods sold for the year?

Reference no: EM131759688

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Difference between period cost and product costs

Reference no: EM131759688

Reference no: EM131759688

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