Homework Answers
Table 2: Cost Classification Chart
| Item | Fixed | Variable | Direct | Indirect | Product | DM | DL | MO | Period |
| Oven | X | X | X | X | |||||
| Egg | X | X | X | X | |||||
| Baking Pans | X | X | X | X | |||||
| Business License | X | X | X | X | |||||
| Health Inspections | X | X | X | X | |||||
| Baking Soda | X | X | X | X | |||||
| Accountant Fee | X | X | X | ||||||
| Utilities | X | X | X | X | |||||
| Mobile Phone | X | X | X | ||||||
| Flour | X | X | X | X | |||||
| Sugar | X | X | X | X | |||||
| Azlina Salary | X | X | X | ||||||
| Vinegar | X | X | X | X | |||||
| Butter | X | X | X | X | |||||
| Cash Register | X | X | X | ||||||
| Nieces Salary | X | X | X | ||||||
| Other Material | X | X | X | X | |||||
| Rent | X | X | X | ||||||
| Raisins | X | X | X | X | |||||
| Aunt Sabariah | X | X | X |
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Azlina needs your help in...
Classify the various costs using the information below, a) Behavior: fixed or variable cost b) Traceability:...
Classify the various costs using the information below,
a) Behavior: fixed or variable cost
b) Traceability: direct or indirect
c) Financial reporting: product or period
d) If product cost, identify which items are direct materials,
direct labor or
manufacturing overhead.
Cost Classification Indirect Product DM Fixed variable Direct DL MOH Period Corporate office building depreciation Deprediation of Equipment used to build various custom houses Lumber Roof Concrete Insulation Ducting Paint Utilities for office (include gas, electric, and water) Mobile phone...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime cost period cost or conversion cost. If the cost is a prime cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH). (Select "Both Prime and Conversion Costs" if both of the categories apply for a particular item.) Product Costs Prime/Conversion/Period cost MOH DM MOH MOH Period Cost Conversion Cost Prime Cost Conversion Cost Conversion Cost Administrative Salaries...
M&J Bakery Inc. opened for business on January 1st 20XX as planned. During the month of January the business purchased and used 200 lbs. of flour, 200 lbs. of sugar, 67 dozen eggs, 20 baking soda...
M&J Bakery Inc. opened for
business on January 1st 20XX as planned. During the
month of January the business purchased and used 200 lbs. of flour,
200 lbs. of sugar, 67 dozen eggs, 20 baking soda boxes, 200 lbs. of
butter, 100 lbs. of raisins, 50 bottles of rum, and other
ingredients (one box of each for a total of four) all from one
supplier on account. Manufacturing overhead is applied to
production at $4per cake. Mary purchased the oven...
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...
Jamie spent the month of December talking to various suppliers in order to determine her cost...
Jamie spent the month of December talking to various suppliers in order to determine her cost structure. She has presented cost data information in Table 1. TABLE 1: COST INFORMATION Item and Ingredients Cost Standard per Cake Conventional oven $6,000 (depreciated over 5 years on a SL basis; no salvage value) n/a Refrigerator $0 (provided by landlord) Baking pans, licenses $0 (paid for by dad) n/a Baking flour $24 per 8 pounds bag 1 pound Eggs $2 per dozen 4...
(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...
nect HW Saved Help Save & Exit Check my Exercise 14-6 Cost classification LO C3 Tesla,...
nect HW Saved Help Save & Exit Check my 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...
Insert Page Layout Formulas Home Data Review View ACROBAT Add-ins Team Tell me Calibri 11 AA==...
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Check my work 8 Your friend, Suzie Whitson, has designed a new type of outdoor toy...
Check my work 8 Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: 1.25 points eBook Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's...
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn...
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers. and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory...
Classify the various costs using the information below,
a) Behavior: fixed or variable cost
b) Traceability: direct or indirect
c) Financial reporting: product or period
d) If product cost, identify which items are direct materials,
direct labor or
manufacturing overhead.
Cost Classification Indirect Product DM Fixed variable Direct DL MOH Period Corporate office building depreciation Deprediation of Equipment used to build various custom houses Lumber Roof Concrete Insulation Ducting Paint Utilities for office (include gas, electric, and water) Mobile phone...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime cost period cost or conversion cost. If the cost is a prime cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH). (Select "Both Prime and Conversion Costs" if both of the categories apply for a particular item.) Product Costs Prime/Conversion/Period cost MOH DM MOH MOH Period Cost Conversion Cost Prime Cost Conversion Cost Conversion Cost Administrative Salaries...
M&J Bakery Inc. opened for
business on January 1st 20XX as planned. During the
month of January the business purchased and used 200 lbs. of flour,
200 lbs. of sugar, 67 dozen eggs, 20 baking soda boxes, 200 lbs. of
butter, 100 lbs. of raisins, 50 bottles of rum, and other
ingredients (one box of each for a total of four) all from one
supplier on account. Manufacturing overhead is applied to
production at $4per cake. Mary purchased the oven...
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...
(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...
nect HW Saved Help Save & Exit Check my 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...
Insert Page Layout Formulas Home Data Review View ACROBAT Add-ins Team Tell me Calibri 11 AA== . Wrap Text General Copy BIU. 3. S.A $ Merge & Center - % Format Painter 88 Condit * Format Font Alignment Number - X Manufacturing overhead (MOH) board Requirementi a. Identify the following as either a product cost or a period cost. b. Select the appropriate product cost category, or select expense. Description Cost Classification Coconut flakes used in the cookies. Product Depreciation...
Check my work 8 Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: 1.25 points eBook Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's...
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers. and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory...
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