Hardwood inc produces wooden crates used for shipping, Ask an Expert

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Hardwood Inc. produces wooden crates used for shipping products by ocean liner. In 2010, Hardwood incurred the following costs. Wood used in crate production $54,460

Nails (considered insignificant and a variable expense) $480
Direct labor $38,770
Utilities for the plant:
$2,900 each month,
plus $0.50 for each kilowatt-hour used each month
Rent expense for the plant for the year $21,870

Assume Hardwood used an average 500 kilowatt-hours each month over the past year.

What is Hardwood's total manufacturing cost if it uses an absorption costing approach?

What is Hardwood's total manufacturing cost if it uses a variable costing approach?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9985881

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