Problem 3 â 20 PointsFollowing is a list of costs incurred by the Sitka Products Co. during the month of June:Direct materials used $12,000 Expired rent $3,000Indirect materials used 3,000 Utilities 800Direct labor employed 20,000 Repairs 700Indirect labor employed 4,500 Depreciation expenseSelling expenses 6,000 –Machinery and equipment 1,200Prepare the journal entries necessary to record the issuance of materials, the distribution of labor cost, the recording of factory overhead, and the entry transferring Factory Overhead to Work in Process.
Problem 4 â 20 PointsThe estimated unit costs for a company to produce and sell a product at a level of 12,000 units per month are as follows:Cost Item EstimatedUnit CostDirect material $32Direct labor 20Variable manufacturing overhead 15Fixed manufacturing overhead 6Variable selling expenses 3Fixed selling expenses 4a. What are the estimated conversion costs per unit?b. What are the estimated prime costs per unit?c. What are the estimated variable costs per unit?
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