Homework Answers
Solution
| Cost Item | Period or Product cost |
| Chief executive officer salary | Period cost |
| Bicycle assembly worker wages | Product cost |
| Bicycle tires | Product cost |
| Depreciation of factory equipment | Product cost |
| Factory maintenace worker salary | Product cost |
| Delivery expense | Period cost |
| Depreciation of office equipment | Period cost |
| Screws used to assemble bicycle | Product cost |
Explanation with detailed classification
| Cost Item | Period or Product cost | |
| Chief executive officer salary | Period cost | Administrative expense |
| Bicycle assembly worker wages | Product cost | Direct labor |
| Bicycle tires | Product cost | Direct material |
| Depreciation of factory equipment | Product cost | Manufacturing overhead |
| Factory maintenace worker salary | Product cost | Manufacturing overhead |
| Delivery expense | Period cost | Selling expense |
| Depreciation of office equipment | Period cost | Administrative expense |
| Screws used to assemble bicycle | Product cost | Manufacturing overhead |
All factory costs are product cost and all costs other than factory cost are period cost.
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Collapse Is this a (1) prod For your respons type either 1...
Selected costs related to Apple's iPhone are listed below. Identify each cost as either direct materials,...
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if
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determine period or product cost
if
a product cost which type direct labor, direct materials, or
factory overhead
Commissions to sales representatives Period Cost Payroll department salaries Select One Maintenance of factory equipment Select One VP of Manufacturing salary Select One Accounting department office supplies Select One Factory rent Select One Factory utilities Select One Wages of assembly line workers Select One Factory janitorial services Select One Factory supplies Select One Leather for bicycle seats Select One Depreciation of office...
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