Accounting 7

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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 $800
Depreciation on CEO's company car $100
Speakers used in the keyboard $1,100
Production supervisor's salary $2,800
Glue and screws used in the keyboards $370
Wages of persons who install the speakers $3,000
Cost to run an ad on local radio stations $600
Utilities for the factory $1,200
Personnel manager's salary 2,500
Wages of person who attaches legs to keyboards $1,950


Required:
1.Calculate the total product cost for Noteworthy.



2.Calculate the prime cost for Noteworthy.



3.Calculate the conversion cost for Noteworthy.



4.Calculate the manufacturing overhead for Noteworthy.



5.Calculate the direct labor 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.

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