Reference no: EM132998673

Question -

Q1. The following information is available about the August transactions of the Helpful Tool Company:

Invoices for product costs paid during the month $493,000

Product costs charged to work in process $737,000

Cost of finished goods manufactured $718,000

Cost of goods sold $739,000

What the product costs to be deducted from revenue in August?

Q2. Alton Company produces metal belts. During the current month, the company incurred the following product costs:

Raw materials $85,000;

Direct labor $52,500;

Electricity used in the Factory $22,500;

Factory foreperson salary $3,250; and

Maintenance of factory machinery $2,050.

What the Alton Company's indirect product costs totaled?