Homework Answers
Cost Prod/per DM,DL,MO,SGA Direct/Indirect
Brass Clasps Product cost DM Direct cost
Janitorial cost-Factory Period cost MO Indirect cost
Janitorial cost- Office Period cost SGA Indirect Cost
WD-40 Product cost MO Indirect cost
Utilities for factory Period cost MO Indirect cost
Utilities for office Period cost SGA Indirect cost
String cost Product cost MO Direct cost
Security cost-Factory Period cost MO Indirect cost
Sale commission Product cost SGA Indirect cost
Accountant's salary Period cost SGA Indirect cost
Nylon lining Product cost DM Direct cost
Rent factory Period cost MO Indirect cost
Rent office Period cost SGA Indirect cost
Factory Manager salary Period cost MO Indirect cost
Leather Product cost DM Direct cost
Depreciation -office photocopier Period cost MO Indirect cost
Depreciation -Sewing Machine Period cost MO Indirect cost
Sewing machine operator'wages Product cost DL Direct cost
* Product cost - Product Specific
Period cost- charged periodically may be weekly,monthly,yearly. E.g Rent,Salary
Direct cost - Attributable to product
Indirect cost - Which is not charged specifically to product.
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Exercise 1 Briefcase Co. makes premium leather briefcases. Categorize each of the following costs as either...
The following costs are for a company that manufactures leather shoes. Shoemaker's wages Foreman's salary Shoebox...
The following costs are for a company that manufactures leather shoes. Shoemaker's wages Foreman's salary Shoebox maker's wages Delivery driver wages Office supplies Depreciation of factory equipment Leather Lubrication for machines Fringe benefits - executive staff Shoe inserts used to cushion heels Wood used to make shoe soles Janitorial supplies for corporate HQ Web design fees for shoe website Glue Insurance on office equipment Utilities for factory Classify these costs as either Direct Materials, Direct labor, MOH, Selling expenses, or...
For apparel manufacturer Abercrombie & Fitch, Inc., classify each of the following costs as either a...
For apparel manufacturer Abercrombie & Fitch, Inc., classify each of the following costs as either a product cost or a period cost: A. Research and development costs B. Depreciation on sewing machines C. Fabric used during production D. Depreciation on office equipment E. Advertising expenses F. Repairs and maintenance costs for sewing machines G. Salary of production quality control supervisor H. Utility costs for office building I. Sales commissions J. Salaries of distribution center personnel K. Wages of sewing machine...
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...
Classifying Costs The following is a list of costs incurred by several business Classify each of...
Classifying Costs The following is a list of costs incurred by several business Classify each of the following costs as product costs or period costs. 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. Cost of fabric used by dothing manufacturer b. Maintenance and repair costs for factory equipment c. Rent for a warehouse...
Managerial Accounting Concepts and Principles )Classifying costs as materials, labor, or factory overhead EX 1-2 Tedicate...
Managerial Accounting Concepts and Principles )Classifying costs as materials, labor, or factory overhead EX 1-2 Tedicate whether the following costs of Procter & Gamble, a maker of consumer products, weuld be classified as direct materials cost, direct labor cost, or factory overhead cost. 08,2 a. Plant manager salary for the lowa City, lowa, plant b. Maintenance supplies c. Salary of process engineers d. Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant e. Scents...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015:...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015: Factory rent $ 36,300 Company advertising 24,600 Wages paid to seamstresses 76,500 Depreciation on salespersons' vehicles 30,500 Thread 1,030 Utilities for factory 23,400 Cutting room supervisor's salary 31,000 President’s salary 75,900 Premium quality cotton material 40,100 Buttons 780 Factory insurance 19,700 Depreciation on sewing machines 7,200 Wages paid to cutters 51,900 1. Compute the cost of direct materials for Cotton White. 2. Compute the...
otton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015:...
otton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015: Factory rent $ 37,800 Company advertising 25,300 Wages paid to seamstresses 75,500 Depreciation on salespersons' vehicles 30,900 Thread 1,150 Utilities for factory 24,700 Cutting room supervisor's salary 30,300 President’s salary 76,200 Premium quality cotton material 40,800 Buttons 805 Factory insurance 18,800 Depreciation on sewing machines 6,900 Wages paid to cutters 51,200 1. Compute the cost of direct materials for Cotton White. 2. Compute the...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018:...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent Company advertising Wages paid to seamstresses Depreciation on salespersons vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material Buttons Factory insurance Depreciation on sewing machines Wages paid to cutters $ 36,990 24,500 76,000 31,600 1,120 23,500 31,500 76,100 41,300 775 18,800 7,400 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015:...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015: Factory rent $ 37,200 Company advertising 24,800 Wages paid to seamstresses 76,800 Depreciation on salespersons' vehicles 30,600 Thread 1,130 Utilities for factory 23,100 Cutting room supervisor's salary 30,100 President’s salary 75,300 Premium quality cotton material 40,300 Buttons 830 Factory insurance 18,300 Depreciation on sewing machines 7,300 Wages paid to cutters 50,900 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015:...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2015: Factory rent $ 36,300 Company advertising 24,500 Wages paid to seamstresses 76,200 Depreciation on salespersons' vehicles 31,200 Thread 1,060 Utilities for factory 24,400 Cutting room supervisor's salary 30,100 President’s salary 76,900 Premium quality cotton material 41,000 Buttons 840 Factory insurance 18,900 Depreciation on sewing machines 7,700 Wages paid to cutters 50,200 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute...
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...
Classifying Costs The following is a list of costs incurred by several business Classify each of the following costs as product costs or period costs. 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. Cost of fabric used by dothing manufacturer b. Maintenance and repair costs for factory equipment c. Rent for a warehouse...
Managerial Accounting Concepts and Principles )Classifying costs as materials, labor, or factory overhead EX 1-2 Tedicate whether the following costs of Procter & Gamble, a maker of consumer products, weuld be classified as direct materials cost, direct labor cost, or factory overhead cost. 08,2 a. Plant manager salary for the lowa City, lowa, plant b. Maintenance supplies c. Salary of process engineers d. Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant e. Scents...
Cotton White, Inc., makes specialty clothing for chefs. The company reported the following costs for 2018: Factory rent Company advertising Wages paid to seamstresses Depreciation on salespersons vehicles Thread Utilities for factory Cutting room supervisor's salary President's salary Premium quality cotton material Buttons Factory insurance Depreciation on sewing machines Wages paid to cutters $ 36,990 24,500 76,000 31,600 1,120 23,500 31,500 76,100 41,300 775 18,800 7,400 50,500 Required: 1. Compute the cost of direct materials for Cotton White. 2. Compute...
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