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Can someone please help me with questions 4-6? Thanks 4.Which of the following are period costs?...

Question

Can someone please help me with questions 4-6? Thanks 4.Which of the following are period costs?...

4.Which of the following are period costs? a. Raw materials b. Direct materials and direct labor c. Direct labor and manufact

Can someone please help me with questions 4-6? Thanks

4.Which of the following are period costs? a. Raw materials b. Direct materials and direct labor c. Direct labor and manufacturing overhead d. Selling expenses 5.Current information for the Stellar Corporation follows: Beginning work in process inventory $17,900 Ending work in process inventory 19,300 Direct materials 147,000 Direct labor 85,000 Total factory overhead 63,100 Stellar Corporation's Cost of Goods Manufactured for the year is: a. $293,700. b. $313,000. c. $295,100. d. $275,800. 6. Using the information below, calculate cost of goods sold for the period: Sales revenues for the period $ 1,304,000 Operating expenses for the period 239,000 Finished Goods Inventory, January 1 36,000 Finished Goods Inventory, December 31 41,000 Cost of goods manufactured for the period 540,000 a. $448,000. b. $774,000. c. $535,000. d. $769,000.

Answers

4
Selling expenses are period costs.
Selling expenses are expensed in the period they are incurred and thus are period costs.
Option D is correct
5
Direct materials 147000
Direct labor 85000
Total factory overhead 63100
Total manufacturing costs 295100
Add: Beginning work in process inventory 17900
313000
Less: Ending work in process inventory 19300
Cost of goods manufactured 293700
Option A is correct
6
Finished goods inventory, January 1 36000
Add: Cost of goods manufactured for the period 540000
Cost of goods available for sale 576000
Less: Finished goods inventory, December 31 41000
Cost of goods sold 535000
Option C is correct


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