Felix’s Fine Jewelry produces fine jewelry for department stores. The following costs incurred by the company may be classified as direct materials, direct labor, manufacturing overhead, or period costs.
a.
Wages paid to Jewelry workers
$ 1,200,000
b.
Utilities in the administrative area
300,000
c.
Depreciation on chain linking machinery utilized in the plant
200,000
d.
Silver, gold, and gemstones used in producing necklaces
4,000,000
e.
Company attorney’s salary
150,000
f.
Lease rental charge on forklift for material and finished goods handling
10,000
g.
Telephone expense for customer service office
20,000
h.
Wages of plant heating and cooling technicians
100,000
i.
Utilities for the assembly area of the plant
250,000
j.
Maintenance on computers utilized in the administrative assistant’s office
1,500
k.
Salary paid to the CEO
200,000
l.
Fine paid for introducing cyanide into the local water supply
1,000,000
m.
Signature red jewelry boxes used for packaging
50,000
n.
Expedited freight of product to major customer
50,000
Instructions:
Classify the costs and total by classification. Assume Felix’s Fine Jewelry’s revenue for the period was $8,000,000 and there is no change in ending inventory. Prepare an operating income statement that shows the deductions of expense in terms of total classification by category: direct materials, direct labor, manufacturing overhead, or period costs.
Provide your answers in clearly organized Excel spreadsheet. Refer to your text to aid you in this assignment.
Check spelling and formatting for readability. All responses must comply with the APA Requirements. Be sure to review the Module 1 Critical Thinking grading rubric, which may be accessed through the Course Information page.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Place Order” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.