Each of the following would be a product cost except: a. Property taxes on factory...
Each of the following would be a product cost except:
a. Property taxes on factory building.
b. Mileage costs for salespersons’ automobiles
c. Factory supervisor’s salary office.
d. Depreciation on chairs and tables in the factory lunchroom.
Homework Answers
Correct answer-------------b. Mileage costs for salespersons’ automobiles.
.
Property taxes on factory building, Factory supervisor salary and Depreciation on chairs and tables in the factory lunchroom are all factory overheads hence part of product cost.
Salespersons’ automobiles expense is a period cost and is considered as selling and administrative expense.
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Question 4
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Sales commission paid to salesperson
Period CostProduct Cost
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Salary of controller
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Wages paid to assembly-line workers
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Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
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Sales commission paid to salesperson
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Wages paid to assembly-line workers
Product CostPeriod Cost
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Flour used in baking cakes
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8.
Utilities of the factory building
Period CostProduct Cost
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