Homework Answers
Solution
| Costs | Classification |
| Logs in a sawmill | Direct material |
| Cost to market finished products | Period cost |
| Electricity to run factory machines | Manufacturing overhead |
| Batteries in Iphones | Manufacturing overhead |
| Roofers in a home building company | Direct labor |
| Clerical workers in a law firm | Direct labor |
Batteries in Iphones is considered as indirect material hence a manufacturing overhead.
Logs in saw mil are direct material as logs of wood are the input that is converted into finished goods.
Roofers are people who build a roof so they are considered as direct labor.
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Question 1 (2 ponts) Indicate whether each of the following is properly classified as direct material,...
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct...
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct labor c. Manufacturing overhead. Write the appropriate letter in the space provided. A Factory machinery lubricants B. Depreciation on manufacturing building D. Wood used in manufacturing furniture C. Assembly line worker's wages Salaries for the night security guards for the factory building Glue, nails and other small parts used in production Insurance on factory machines Factory supervisor's salaries Metal used in manufacturing process -...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material direct labor, or factory overhead. 1. If it is a direct material, put "yes" under direct material and "No" under direct labor 2. Tell whether each item belongs to product cost or period cost. If it is a product cost, 3. Indicate whether each item is a variable cost or fixed cost. If it is a variable cost, put and factory overhead and so...
The following table includes costs incurred by Bridgeport Manufacturing. Required: For each of the following costs:...
The following table includes costs incurred by Bridgeport Manufacturing. Required: For each of the following costs: 1. classify the each cost item as either product or period costs, and 2. identify whether the costs should be categorized as direct materials (DM), direct labor (DL), manufacturing overhead (MOH), selling (S), or general & administrative (GA). BRIDGEPORT MANUFACTURING COSTS Requirement (1) Requirement (2) Direct materials (DM), Direct labor (DL), Manufacturing Product or Period Overhead (MOH). costs Selling (S), or General & Administrative...
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct...
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct labor? O Book binder. O Plant security guard O Sales representative Plant supervisor. O Payroll supervisor QUESTION 9 4 points Save Which of the following is not a period cost? O Legal costs O Public relations costs O Sales commissions. O Wages of assembly-line workers. O The salary of a company's chief financial officer (CFO) QUESTION 10 Materials used in the operation of a...
(Fill in the blank Choices) for: (Question 6)(Question 9) Administrative Beginning Contribution Cost driver Direct...
(Fill in the blank Choices) for: (Question 6)(Question
9)
Administrative
Beginning
Contribution
Cost driver
Direct labor
Direct labor-hours
Direct materials
Dollars of direct labor cost
Ending
Expensed
Fixed
Fixed manufacturing overhead
For the period ended
Income statement
Indirect labor
Indirect materials
Job cost
Level of activity
Machine-hours
Manufacturing
Manufacturing overhead
Margin
Name of company
Overapplied
Period
Predetermined overhead rate
Process cost
Selling
Statement of cost of goods manufactured
Total budgeted overhead
Underapplied
Variable costing
Work inprocess inventory
Question 7...
Exercise 14-6 Cost classification LO C3 Tesla, a vehicle manufacturer, incurs the following costs. (1) Classify...
Exercise 14-6 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...
please answer all the required ones #1-3b direct labor rate: $18 per hour direct material cost:...
please answer all the required ones #1-3b
direct labor rate: $18 per hour
direct material cost: $3 per pound
Variable overhead rate (based on direct labor hours): $25 per
direct labor hour
Check my work Delray Manufacturing needs to better budget and analyze costs. While Delray has experienced high sales growth, it has struggled to effectively manage costs and inventories. Delray aims to end each month with direct materials inventory equal to 40% of next month's production needs. Each finished...
2) Below are listed some of the costs incurred by our company. For each cost, indicate...
2) Below are listed some of the costs incurred by our company. For each cost, indicate whether it would most likely be classified as Direct Labor, Direct Materials, Overhead, Selling and Administrative Expense. (2 points). We own a business which manufactures and sells pencil sharpeners. a) Cost of sand spread on the factory floor to absorb oil from the manufacturing machines. b) Cost of the warehouse used to store the pencil sharpeners after they are finished & before they are...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor Direct materials Insurance on factory building Indirect materials
which of the following costs would not be classified as factory o Name 1) In a...
which of the following costs would not be classified as
factory o
Name 1) In a process costing system, factory overhead costs are allocated to production departments by using a predetermined overhead allocation rate. A) True B) False Inventory account of a manufacturing company that uses an overhead rate Uusu on direct labor cost has 400 dahit balance after all posting is completed.c om of the one job still in process shows direct material cost of n process shows direct...
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct labor c. Manufacturing overhead. Write the appropriate letter in the space provided. A Factory machinery lubricants B. Depreciation on manufacturing building D. Wood used in manufacturing furniture C. Assembly line worker's wages Salaries for the night security guards for the factory building Glue, nails and other small parts used in production Insurance on factory machines Factory supervisor's salaries Metal used in manufacturing process -...
Reflective Simulation: Please indicate for each of the following items whether it falls under direct material direct labor, or factory overhead. 1. If it is a direct material, put "yes" under direct material and "No" under direct labor 2. Tell whether each item belongs to product cost or period cost. If it is a product cost, 3. Indicate whether each item is a variable cost or fixed cost. If it is a variable cost, put and factory overhead and so...
The following table includes costs incurred by Bridgeport Manufacturing. Required: For each of the following costs: 1. classify the each cost item as either product or period costs, and 2. identify whether the costs should be categorized as direct materials (DM), direct labor (DL), manufacturing overhead (MOH), selling (S), or general & administrative (GA). BRIDGEPORT MANUFACTURING COSTS Requirement (1) Requirement (2) Direct materials (DM), Direct labor (DL), Manufacturing Product or Period Overhead (MOH). costs Selling (S), or General & Administrative...
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct labor? O Book binder. O Plant security guard O Sales representative Plant supervisor. O Payroll supervisor QUESTION 9 4 points Save Which of the following is not a period cost? O Legal costs O Public relations costs O Sales commissions. O Wages of assembly-line workers. O The salary of a company's chief financial officer (CFO) QUESTION 10 Materials used in the operation of a...
(Fill in the blank Choices) for: (Question 6)(Question
9)
Administrative
Beginning
Contribution
Cost driver
Direct labor
Direct labor-hours
Direct materials
Dollars of direct labor cost
Ending
Expensed
Fixed
Fixed manufacturing overhead
For the period ended
Income statement
Indirect labor
Indirect materials
Job cost
Level of activity
Machine-hours
Manufacturing
Manufacturing overhead
Margin
Name of company
Overapplied
Period
Predetermined overhead rate
Process cost
Selling
Statement of cost of goods manufactured
Total budgeted overhead
Underapplied
Variable costing
Work inprocess inventory
Question 7...
Exercise 14-6 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...
please answer all the required ones #1-3b
direct labor rate: $18 per hour
direct material cost: $3 per pound
Variable overhead rate (based on direct labor hours): $25 per
direct labor hour
Check my work Delray Manufacturing needs to better budget and analyze costs. While Delray has experienced high sales growth, it has struggled to effectively manage costs and inventories. Delray aims to end each month with direct materials inventory equal to 40% of next month's production needs. Each finished...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor Direct materials Insurance on factory building Indirect materials
which of the following costs would not be classified as
factory o
Name 1) In a process costing system, factory overhead costs are allocated to production departments by using a predetermined overhead allocation rate. A) True B) False Inventory account of a manufacturing company that uses an overhead rate Uusu on direct labor cost has 400 dahit balance after all posting is completed.c om of the one job still in process shows direct material cost of n process shows direct...
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