a. Enter each cost item on your answer sheet indicating product cost (either direct materials, direct labour or manufacturing overhead) vs period cost, placing the dollar amount under the appropriate heading (you must use cell referencing: i.e. "-B10", do not manually input numbers. Total the dollar amounts in each of the columns (row 21). b. Determine If each cost is variable or fixed with respect to units produced. Cost Item Advertising Depreciation on office equipment (straight-line) Factory manager's salary General office supplies Raw materials (plastic, wood, etc.) Miscellaneous materials (glue, tape, etc.) Hourly wages for assembly-line workers Maintenance costs on factory building Rent on factory equipment Sales commissions on sale of high-end sticks Utility costs for factory (billed based on usage) otal Amount $ 15,000 800 3,900 293 26,549 900 55,720 1,600 4,809 7,082 1,664 -SUM(B10:820 Product cost Direct Materials <- Part a - product vs. period cost Product Cost- Product Cost- Direct Manufacturing Labor Overhead Period Costs Part b Variable vs. Fixed

a. Enter each cost item on your answer sheet indicating product cost (either direct materials, direct labour or manufacturing overhead) vs period cost, placing the dollar amount under the appropriate heading (you must use cell referencing: i.e. "-B10", do not manually input numbers. Total the dollar amounts in each of the columns (row 21). b. Determine If each cost is variable or fixed with respect to units produced. Cost Item Advertising Depreciation on office equipment (straight-line) Factory manager's salary General office supplies Raw materials (plastic, wood, etc.) Miscellaneous materials (glue, tape, etc.) Hourly wages for assembly-line workers Maintenance costs on factory building Rent on factory equipment Sales commissions on sale of high-end sticks Utility costs for factory (billed based on usage) otal Amount $ 15,000 800 3,900 293 26,549 900 55,720 1,600 4,809 7,082 1,664 -SUM(B10:820 Product cost Direct Materials <- Part a - product vs. period cost Product Cost- Product Cost- Direct Manufacturing Labor Overhead Period Costs Part b Variable vs. Fixed

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zina Manufacturing Company started and completed Job 501 in December with the following Job Cost Sheet and transferred it to the warehouse. Direct Materials Date Dec 17 Dec 30 Total Direct Labor Amount Date Amount $2,000 Dec 20 $4,000 8,000 Dec 30 3,800 Total Job Cost Sheet - Job No. 501 Total Cost The journal entry to record the transaction is A) WIP Inventory FG Inventory B) Cost of Goods Sold WIP Inventory C) FG Inventory WIP Inventory D) FG Inventory WIP Inventory Debit Credit 35,800 17,800 17,800 Manufacturing Overhead Date Amount Dec 24 $10,000 Dec 30 8,000 Total 35,800 35,800 17,800 17,800 35,800
Question 4 Listen Which of the following points are on the unit circle? Select all that apply. A (--) B (33.3) C 12 (1/13. 31/3)