Homework Answers
Answer-
| 1 | Depreciation—Factory equipment | Product cost |
| 2 | Depreciation—Office equipment | Period cost |
| 3 | Rent on factory building | Product cost |
| 4 | Interest expense | Period cost |
| 5 | Office manager salary | Period cost |
| 6 | Indirect materials used in making goods | Product cost |
| 7 | Advertising | Period cost |
| 8 | Assembly line wages | Product cost |
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10 Identify each of the following costs as either a product cost or a period cost. 1. Depreciation-Factory equipment oints 2. Depreciation-Office equipment 3. Rent on factory building eBook 4. In...
Identify each of the following costs as either a product cost or a period cost. Period...
Identify each of the following costs as either a product cost or a period cost. Period cost 1. Production manager's salary 2. Administrative expenses 3. Income tax expense 4. Office supplies used 5. Accident insurance-Factory workers 6. Factory utilities 7. Factory maintenance 8. Sales commissions Period cost Product cost Product cost (Product cost Period cost Identify each of the following costs as either direct materials, direct labor, or factory overhead. The company manufactures ten Direct labor 1. Wages paid to...
D. $0.40 Example 45: Classify each of the following as either period or product. If a...
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550...
Advertising expense $ 28,750 Depreciation expense—Office equipment 8,250 Depreciation expense—Selling equipment 10,300 Depreciation expense—Factory equipment 39,550 Factory supervision 105,060 Factory supplies used 8,100 Factory utilities 39,300 Direct labor 696,000 Indirect labor 69,800 Miscellaneous production costs 10,225 Office salaries expense 72,900 Raw materials purchases* 937,500 Rent expense—Office space 23,000 Rent expense—Selling space 26,700 Rent expense—Factory building 81,200 Maintenance expense—Factory equipment 44,100 Sales 4,712,500 Sales salaries expense 406,160 *Assume that the raw materials inventory account is used only for direct materials. Indirect...
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...
Question 4 Classify each cost as a period or a product cost. 1. Advertising costs Product...
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
Required 1. Identify and classily each of the costs above as either a product or period...
Required 1. Identify and classily each of the costs above as either a product or period cost 2. Classily each of the product costs as either direct materials, direct labor, or factory overhead 3. Classify each of the period costs as either selling or general and administrative expenses. Costs Advertising expense Depr. expense-Office equip. Depr. expense-Selling equip. Depr. expense-Factory equip. Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Misc. production costs Office salaries expense Raw materials purchases...
Selected costs related to Apple's iPhone are listed below. Identify each cost as either direct materials,...
Selected costs related to Apple's iPhone are listed below. Identify each cost as either direct materials, direct labor, factory overhead, selling expenses, or general and administrative expenses by selecting the appropriate dropdowns. 1. Camera 2. Advertising campaigns 3. Maintenance of assembly equipment 4. Depreciation on office equipment 5. Depreciation (straight-line) on robotic equipment used in assembly 6. Salary of the chief executive officer 7. Assembly-line supervisor salary 8. Wages for retail store worker
Use the file Product or Period Cost worksheet. Complete the total amounts for each column. Product...
Use
the file Product or Period Cost worksheet. Complete the total
amounts for each column.
Product Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Costs Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Fixpense for factory Depreciation on Sales Cars Depreciation...
Complete the total amounts for each column. Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period...
Complete the total amounts for each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
Complete the total amounts of each column. Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period...
Complete the total amounts of each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
Identify each of the following costs as either a product cost or a period cost. Period cost 1. Production manager's salary 2. Administrative expenses 3. Income tax expense 4. Office supplies used 5. Accident insurance-Factory workers 6. Factory utilities 7. Factory maintenance 8. Sales commissions Period cost Product cost Product cost (Product cost Period cost Identify each of the following costs as either direct materials, direct labor, or factory overhead. The company manufactures ten Direct labor 1. Wages paid to...
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
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...
Question 4
Classify each cost as a period or a product cost.
1.
Advertising costs
Product CostPeriod Cost
2.
Glue and nails used in production
Period CostProduct Cost
3.
Depreciation on factory equipment
Product CostPeriod Cost
4.
Sales commission paid to salesperson
Period CostProduct Cost
5.
Salary of controller
Product CostPeriod Cost
6.
Wages paid to assembly-line workers
Product CostPeriod Cost
7.
Flour used in baking cakes
Period CostProduct Cost
8.
Utilities of the factory building
Period CostProduct Cost
9....
Required 1. Identify and classily each of the costs above as either a product or period cost 2. Classily each of the product costs as either direct materials, direct labor, or factory overhead 3. Classify each of the period costs as either selling or general and administrative expenses. Costs Advertising expense Depr. expense-Office equip. Depr. expense-Selling equip. Depr. expense-Factory equip. Factory supervision Factory supplies used Factory utilities Direct labor Indirect labor Misc. production costs Office salaries expense Raw materials purchases...
Selected costs related to Apple's iPhone are listed below. Identify each cost as either direct materials, direct labor, factory overhead, selling expenses, or general and administrative expenses by selecting the appropriate dropdowns. 1. Camera 2. Advertising campaigns 3. Maintenance of assembly equipment 4. Depreciation on office equipment 5. Depreciation (straight-line) on robotic equipment used in assembly 6. Salary of the chief executive officer 7. Assembly-line supervisor salary 8. Wages for retail store worker
Use
the file Product or Period Cost worksheet. Complete the total
amounts for each column.
Product Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Costs Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Fixpense for factory Depreciation on Sales Cars Depreciation...
Complete the total amounts for each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
Complete the total amounts of each column.
Product/Manufacturing Costs Direct Labor Manufacturing Overhead Period/Non Manufacturing Period Cost/Expense Direct Materials Depreciation on Factory Equipment Rent Expense - Sales Office Sales peoples Salaries Wood for making Chairs Wages for Assembly Line Workers Small nails& Glue for production Supplies for Accountants Depreciation on Delivery Truck Rent for Factory Factory Security Salaries Production Manager Salary Supplies Expense for factory Depreciation on Sales Cars Depreciation on factory computers Materials manager salary Factory Utilities Expense Sales...
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