Homework Answers
| Wages of assemblers | Direct labor |
| Wheels | Direct materials |
| Depreciation on worker's tools | Factory overhead |
| Grease for wheel axles | Factory overhead |
| Factory depreciation | Factory overhead |
| President's salary | Not a product cost |
| Salespersons' commissions | Not a product cost |
| Wood | Direct materials |
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Bartel Corporation produces bar stools for restaurants. For each of the following, indicate whether the cost would typically be considered direct or indirect cost for the cost object given. Clear All Lubricants used on the bar stool manufacturing equipment The factory supervisor's salary for the bar stool factory Direct The production labor wages for the bar stool assemblers Indirect...
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match each of the following costs with the appropriate classification. Clear All Cotton for a textile manufacturer of blue jeans Bandages for the emergency room of a hospital Cost of company holiday party Electricity used to operate factory machinery State unemployment compensation taxes for factory workers Period cost - selling expense Product cost - direct materials Period cost -...
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the terms below for a cake factory to the type of cost. Clear All Depreciation on oven Conversion cost Sprinkles for the topping (considered an indirect material) Prime cost Wages of the baker Both prime cost and conversion Frosting
Scoring: Your score will be based on the number of correct matches. There is no penalty...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. The following are some of the costs incurred by Cupcake Company. Identify them as either: Clear All Factory rent Salesman commissions Depreciation expense- factory Conversion costs Baker's wages Prime costs Frosting Neither prime or conversion costs Baker's wages Prime costs Frosting Neither prime or conversion costs Depreciation expense-office Both prime and conversion costs Sprinkles for decoration (indirect material) Cupcake...
Scoring: Your score will be based on the number of correct matches. There is no penalty...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the items below for a cake factory to the type of cost. Clear All Depreciation on oven Sprinkles for the topping (considered an indirect material) Wages of the baker Frosting Both prime cost and conversion cost Conversion cost Prime cost
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. 1) Identify which inventory costing method (LIFO or FIFO) achieves the effect listed in the following items. Clear All Prices are rising; profits are higher with this method. LIFO Prices are rising; cost of goods sold is lower with this method. FIFO Prices are declining; income taxes are higher with this method. Prices are declining; gross margin is higher...
Scoring: Your score will be based on the number of correct matches. There is no penalty...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. For each of the following, indicate whether the cost would typically be considered product or period cost for the cost object given. Clear All Electricity costs to run the factory Accountant salaries Product Selling costs for the period Period Delivery costs to take the bicycles to stores Tires for the bicycles
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Scoring: Your score will be based on the number of correct
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Match the following descriptions with the term (a-e) it
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term (a-e) it describes: Clear All normal standard Favorable cost variance theoretical standard Unfavorable cost variance an example is the number...
Scoring: Your score will be based on the number of correct matches. There is no penalty...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term it describes: Clear All Ideal Standard an example is the number of customer complaints Nonfinancial performance actual cost standard cost at actual volumes actual cost standard costat Currently attainable standard normal standard Favorable cost hanc theoretical standard
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Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the type of account with the business transactions that follow. Clear All None of these choices are correct. Unearned revenue Prepaid expense Received six months of rental payments from a tenant. Annual depreciation on equipment, recorded on a monthly basis. Paid six months of rental payments to the landlord. A contract to provide tutoring services beginning next month...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Bartel Corporation produces bar stools for restaurants. For each of the following, indicate whether the cost would typically be considered direct or indirect cost for the cost object given. Clear All Lubricants used on the bar stool manufacturing equipment The factory supervisor's salary for the bar stool factory Direct The production labor wages for the bar stool assemblers Indirect...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the terms below for a cake factory to the type of cost. Clear All Depreciation on oven Conversion cost Sprinkles for the topping (considered an indirect material) Prime cost Wages of the baker Both prime cost and conversion Frosting
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. The following are some of the costs incurred by Cupcake Company. Identify them as either: Clear All Factory rent Salesman commissions Depreciation expense- factory Conversion costs Baker's wages Prime costs Frosting Neither prime or conversion costs Baker's wages Prime costs Frosting Neither prime or conversion costs Depreciation expense-office Both prime and conversion costs Sprinkles for decoration (indirect material) Cupcake...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. 1) Identify which inventory costing method (LIFO or FIFO) achieves the effect listed in the following items. Clear All Prices are rising; profits are higher with this method. LIFO Prices are rising; cost of goods sold is lower with this method. FIFO Prices are declining; income taxes are higher with this method. Prices are declining; gross margin is higher...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. For each of the following, indicate whether the cost would typically be considered product or period cost for the cost object given. Clear All Electricity costs to run the factory Accountant salaries Product Selling costs for the period Period Delivery costs to take the bicycles to stores Tires for the bicycles
Scoring: Your score will be based on the number of correct
matches. There is no penalty for incorrect or missing matches.
Match the following descriptions with the term (a-e) it
describes:
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term (a-e) it describes: Clear All normal standard Favorable cost variance theoretical standard Unfavorable cost variance an example is the number...
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match the following descriptions with the term it describes: Clear All Ideal Standard an example is the number of customer complaints Nonfinancial performance actual cost standard cost at actual volumes actual cost standard costat Currently attainable standard normal standard Favorable cost hanc theoretical standard
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