1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost?
A) Depreciation of factory equipment.
B) Wages of salespersons
C) Wages of machine operators
D) Wages of machine operators
2. The advertising costs incurred by Pepsi to air its commercials during the hockey season can best be described as
A) Fixed cost B) Variable cost C) Prime cost D) Conversion cost
3. How would the wages of factory maintenance personnel usually be classified?
A) Direct labour and manufacturing overhead
B) Indirect labour and manufacturing overhead
C) Direct labour and period cost
D) Indirect labour and period cost Ans:
Homework Answers
1.Wages of a sales person is a period cost
2. Fixed cost
3.indirect labour and manufacturing overhead
Add Answer to:
1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost?
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
1. Which of the following is an example of a possible cost object? a. a product...
1. Which of the following is an example of a possible cost object? a. a product b. a customer c. a department d. All of these could be possible cost objects. 2. Which of the following is a product cost? a. advertising expenditures b. insurance on the office buildings c. depreciation of the salesmen's cars d. depreciation of the production facilities 3. The wages of a production equipment operator would be classified as a. direct materials. b. direct labour c....
1. If the cost object is an airplane, classify each cost as one of the following:...
1.
If the cost object is an airplane, classify each cost as one of
the following: direct material (DM), direct labour (DL),
indirect labour (IL), indirect materials (IM), other
manufacturing overhead (other MOH), or period cost. What is the
total for each type of cost?
2.
Calculate total manufacturing overhead costs.
3.
Calculate total inventoriable product costs.
4.
Calculate total prime costs.
5.
Calculate total conversion costs.
6.
Calculate total period costs.
An aircraft manufacturer incurred the following costs last...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
16. The cost of a manufactured product generally consists of which of the following costs? a...
16. The cost of a manufactured product generally consists of which of the following costs? a direct materials cost and factory overhead cost only b. direct labor cost and factory overhead cost only c. direct labor cost, direct materials cost, and factory overhead cost d. direct materials cost and direct labor cost only 17. Materials must have which two qualities in order to be classified as direct materials? a. They must be classified as both prime costs and conversion costs. b....
(A) Classify each of the following cost as product cost or period cost and indicate whether...
(A) Classify each of the following cost as product cost or period cost and indicate whether the cost is a variable or fixed cost, direct cost or indirect cost Product /Period Fixed Variable Indirect Direct/ a Direct materials b Depreciation on corporate jet for sales force c Lubricants for factory machinery d Sales commissions at 5% of sales e Factory Insurance f Product brochures g Factory utilities h President's salary i Employer paid health insurance premium on direct labor personnel...
P2.33 Classifying costs; product versus period; components of product cost LO 2.8, 2.9 Indicate, for each...
P2.33 Classifying costs; product versus period; components of product cost LO 2.8, 2.9 Indicate, for each of the costs listed below, whether it is: (a)product cost (b)period cost (c)conversion cost (d)prime cost (e)direct material cost (f)direct labour cost (g) manufacturing overhead. More than one classification may apply to each item. Costs: cost incurred by a department store chain to transport goods purchased for resale to its stores cost of grapes purchased by a winery depreciation on pizza ovens in a...
18 Which of the following costs is a period cost for a manufacturing company? a. Controller's...
18 Which of the following costs is a period cost for a manufacturing company? a. Controller's salary b. wages of machine operators c. insurance on factory equipment d. fringe benefits for factory employees Blazin-Boards Company plans to sell 10,000 snowboards at $400 each in the coming year. Product costs include: Direct Materials per snowboard $80 Direct Labor per snowboard $125 Variable overhead per snowboard $15 Total fixed factory overhead $800,000 Variable selling expense is a commission of 5% of sales...
Requirement 1. Assuming the cost object is an airplane, classif manufacturing overhead (other MOH), or period...
Requirement 1. Assuming the cost object is an airplane, classif manufacturing overhead (other MOH), or period cost. What is the total for each type of cost? (Enter currency amounts in thousands and not in doll box empty, do not enter a zero.) fy each cost as one of the following direct material (DM), direct labor (DL), indirect labor (IL), indirect materials (IM), other ars. If a box is not used in the table leave th Other DM DL IM IL...
The wages of factory maintenance personnel would usually be: la b Indirect labour INo Yes Yes...
The wages of factory maintenance personnel would usually be: la b Indirect labour INo Yes Yes INo Manufacturing overhead Yes INo Yes INO C d. Multiple Choice Which of the following costs would not be a period cost? Multiple Choice sales commissions administrative salaries O indirect materials O advertising
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
1. Which of the following is an example of a possible cost object? a. a product b. a customer c. a department d. All of these could be possible cost objects. 2. Which of the following is a product cost? a. advertising expenditures b. insurance on the office buildings c. depreciation of the salesmen's cars d. depreciation of the production facilities 3. The wages of a production equipment operator would be classified as a. direct materials. b. direct labour c....
1.
If the cost object is an airplane, classify each cost as one of
the following: direct material (DM), direct labour (DL),
indirect labour (IL), indirect materials (IM), other
manufacturing overhead (other MOH), or period cost. What is the
total for each type of cost?
2.
Calculate total manufacturing overhead costs.
3.
Calculate total inventoriable product costs.
4.
Calculate total prime costs.
5.
Calculate total conversion costs.
6.
Calculate total period costs.
An aircraft manufacturer incurred the following costs last...
16. The cost of a manufactured product generally consists of which of the following costs? a direct materials cost and factory overhead cost only b. direct labor cost and factory overhead cost only c. direct labor cost, direct materials cost, and factory overhead cost d. direct materials cost and direct labor cost only 17. Materials must have which two qualities in order to be classified as direct materials? a. They must be classified as both prime costs and conversion costs. b....
(A) Classify each of the following cost as product cost or period cost and indicate whether the cost is a variable or fixed cost, direct cost or indirect cost Product /Period Fixed Variable Indirect Direct/ a Direct materials b Depreciation on corporate jet for sales force c Lubricants for factory machinery d Sales commissions at 5% of sales e Factory Insurance f Product brochures g Factory utilities h President's salary i Employer paid health insurance premium on direct labor personnel...
Requirement 1. Assuming the cost object is an airplane, classif manufacturing overhead (other MOH), or period cost. What is the total for each type of cost? (Enter currency amounts in thousands and not in doll box empty, do not enter a zero.) fy each cost as one of the following direct material (DM), direct labor (DL), indirect labor (IL), indirect materials (IM), other ars. If a box is not used in the table leave th Other DM DL IM IL...
The wages of factory maintenance personnel would usually be: la b Indirect labour INo Yes Yes INo Manufacturing overhead Yes INo Yes INO C d. Multiple Choice Which of the following costs would not be a period cost? Multiple Choice sales commissions administrative salaries O indirect materials O advertising
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