Homework Answers
| Period | Product | Fixed | Variable | |
| a. Plastic components to make a toy | Product | Variable | ||
| b. Administrative building rent | Period | Fixed | ||
| c. Accountant's salary | Period | Fixed | ||
| d. Line workers wages | Product | Variable | ||
| e. Electricity for conveyor belt | Product | Variable | ||
| f. Property taxes (manufacturing facility) | Product | Fixed |
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4. Please classify the following as either a period or product cost AND either a fixed...
D. $0.40 Example 45: Classify each of the following as either period or product. If a...
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
Classify the following costs of a book publisher as product or period. Product costs should be...
Classify the following costs of a book publisher as product or period. Product costs should be further classified as prime or conversion. Product or period Prime or conversion a. Costs of rolls of blank paper b. Cost of cardboard displays for bookstores c. wages of accounting clerks that process production payroll d. utility costs at the printing facility. e. salary or pressroom supervisor. f. shipping charges for carbon black inks to be used. g. cost of temporary workers hired for...
Classify each cost as either a product cost or a period cost. Indicate whether each product...
Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs Classification a. Attorney fees for drafting a new lease for headquarters offices. b. Cash paid to outside firm for janitorial services for factory. c. Commissions paid to sales representatives, based on the number of ATVs...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight attendants and pilots are paid based on hours of flight time. Cost Variable or Fixed Direct or Indirect | 1. Snacks served on airplanes 2. Depreciation on office equipment 3. Oil used in airplanes 4. Luggage handler wages 5. Airport landing fee...
Question 4 Classify each cost as a period or a product cost. 1. Advertising costs Product...
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
4) Lets Assume we are a car company: If Product Product Fixed or Variable Cost,DM, DL...
4) Lets Assume we are a car company: If Product Product Fixed or Variable Cost,DM, DL or OH or Period Property Taxes, factory Salesperson's commissions Supervisor Salary, factory Wages of workers assembling components Tires used is automobile production Shipping costs on merchandise sold Automobiles for company executives Cost of AM/FM car stereos with CD Player Lubricants for machinery Cost of workers painting the product Cost of shipping radar sets to customers Utilities for administrative offices Utilities for factory machinery Utilities...
Exercise 18-6 Cost classification LO C3 Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify...
Exercise 18-6 Cost classification LO C3 Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a product cost, identify it as direct materials, direct labor, or factory overhead, and then as a prime and/or conversion cost. (2) Classify each product cost as either a direct cost or an indirect cost using the product as the cost object (Leave no cell blank if there is no effect select "NA...
Classify the following costs at a car manufacturer as a) product or period and b) direct...
Classify the following costs at a car manufacturer as a) product or period and b) direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or selling or general and administrative expense (G&A). D M or D Lor If MOH What Selling Expense or Windshield Engine Wages of assembly line worker Depreciation of factory machines Factory machinery lubricants Steering wheel Salary painting supervisor Salary of company president Rent on office building Utilities on factory building Factory safety manager Janitorial wages on...
Required information [The following information applies to the questions displayed below.] Listed here are the total...
Required information [The following information applies to the questions displayed below.] Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $431 each. Costs 1. Plastic for casing-$18,000 2. Wages of assembly workers-$87,000 3. Property taxes on factory-$7,000 4. Accounting staff salaries $33,000 5. Drum stands (1,000 stands purchased)-$29,000 6. Rent cost of equipment for sales staff-$24,000 7. Upper management salaries-$135,000 8. Annual flat fee for factory maintenance...
Required information [The following information applies to the questions displayed below.] Listed here are the total...
Required information [The following information applies to the questions displayed below.] Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $500 each. Costs 1. Plastic for casing-$17,000 2. Wages of assembly workers-$82,000 3. Property taxes on factory-$5,000 4. Accounting staff salaries-$35,000 5. Drum stands (1,000 stands purchased)-$26,000 6. Rent cost of equipment for sales staff-$10,000 7. Upper management salaries,$125,000 8. Annual flat fee for factory maintenance service-$10,000...
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
Listed below are costs of providing an airline service. Classify each cost as (a) either variable or fixed, and (b) either direct or indirect by selecting the appropriate dropdowns. Consider the cost object to be a flight. Flight attendants and pilots are paid based on hours of flight time. Cost Variable or Fixed Direct or Indirect | 1. Snacks served on airplanes 2. Depreciation on office equipment 3. Oil used in airplanes 4. Luggage handler wages 5. Airport landing fee...
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
4) Lets Assume we are a car company: If Product Product Fixed or Variable Cost,DM, DL or OH or Period Property Taxes, factory Salesperson's commissions Supervisor Salary, factory Wages of workers assembling components Tires used is automobile production Shipping costs on merchandise sold Automobiles for company executives Cost of AM/FM car stereos with CD Player Lubricants for machinery Cost of workers painting the product Cost of shipping radar sets to customers Utilities for administrative offices Utilities for factory machinery Utilities...
Exercise 18-6 Cost classification LO C3 Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a product cost, identify it as direct materials, direct labor, or factory overhead, and then as a prime and/or conversion cost. (2) Classify each product cost as either a direct cost or an indirect cost using the product as the cost object (Leave no cell blank if there is no effect select "NA...
Classify the following costs at a car manufacturer as a) product or period and b) direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or selling or general and administrative expense (G&A). D M or D Lor If MOH What Selling Expense or Windshield Engine Wages of assembly line worker Depreciation of factory machines Factory machinery lubricants Steering wheel Salary painting supervisor Salary of company president Rent on office building Utilities on factory building Factory safety manager Janitorial wages on...
Required information [The following information applies to the questions displayed below.] Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $431 each. Costs 1. Plastic for casing-$18,000 2. Wages of assembly workers-$87,000 3. Property taxes on factory-$7,000 4. Accounting staff salaries $33,000 5. Drum stands (1,000 stands purchased)-$29,000 6. Rent cost of equipment for sales staff-$24,000 7. Upper management salaries-$135,000 8. Annual flat fee for factory maintenance...
Required information [The following information applies to the questions displayed below.] Listed here are the total costs associated with the production of 1,000 drum sets manufactured by TrueBeat. The drum sets sell for $500 each. Costs 1. Plastic for casing-$17,000 2. Wages of assembly workers-$82,000 3. Property taxes on factory-$5,000 4. Accounting staff salaries-$35,000 5. Drum stands (1,000 stands purchased)-$26,000 6. Rent cost of equipment for sales staff-$10,000 7. Upper management salaries,$125,000 8. Annual flat fee for factory maintenance service-$10,000...
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