Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification and explanation of these costs. Write NA if not applicable. Costs Manufacturing (M) or Non-Manufacturing (NM) Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH) General and Administrative (GA) or Marketing and Selling (MS) j. Salaries of plant supervisor       k. Interest on bank loan       l. Property tax on the production plant

Q: Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable…

A: Variable cost is the cost that changes with the change in the number of units produced. Fixed cost…

Q: Which one of the following is an example of a period cost? Maintenance on factory machines O Wages…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of the following is not a period cost? Group of answer choices Sales commissions. Public…

A: Cost can be divided in to different groups including period cost, product cost etc. Period cost are…

Q: Which of the following is a product cost? A) Sales commissions B) CEO's salary C) Delivery van…

A: Product costs are related to manufacturing and are part of cost of inventory.

Q: Which of the following accounts would be a period cost rather than a product cost?     Freight out.…

A: Cost: It can be defined as the total amount that is spent by a business in manufacturing a product

Q: Prime vs conversion cost. For each of the following costs incurred in a manufacturing operation,…

A: Prime costs : It refers to the three important elements of costs: direct materials, direct labor and…

Q: Classify each of the following as a variable, fixed cost or mixed cost. a. Direct labour b.…

A: Variable cost is such type of cost which changes with the changes in units produced. Fixed cost…

Q: Which of the following costs would be considered a period rather than a product cost in a…

A: The product costs are the costs that are directly or indirectly related to the production process.…

Q: For a manufacturing company, which of the following is an example of a period cost rather than a…

A: Product cost means the cost of producing one unit of finished goods. It is included in the valuation…

Q: which of the following is a product cost for a manufacturing company : a- insurance on the…

A: Product cost includes all the costs involved to create a product i.e direct material, direct labour…

Q: Identify whether the following items should be included in Direct Materials (DM), Direct Labor (DL),…

A:

Q: Which of the following accounts would be a period cost rather than a product cost? a   Freight out.…

A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…

Q: Trak Corporation incurred the following costs while manufacturing its bicycles. Bicycle components…

A: The period costs are the costs that do not relate to the production. These costs generally include…

Q: The following year-end information is taken from the December 31 adjusted trial balance and other…

A: Product cost is as name suggest a cost incurred to manufacturing of goods or providing of…

Q: The following would be classified as product costs except: a. property taxes on production…

A: PRODUCT COST Product Cost are those Cost which is associates with the Manufacturing of Product.…

Q: Property taxes on a company’s factory building would be classified as a(n): a. Product cost b.…

A: Property taxes are taxes paid on the factory building where the production activity of the business…

Q: Which one of the following is an example of a discretionary fixed cost? a. The depreciation cost of…

A: A discretionary fixed costs are those fixed which are avoidable for some shorter period and these…

Q: a. Salary of quality control supervisor b. Packing supplies for products sold. These supplies are a…

A: “Since you have asked multiple sub-parts, we will solve the first three sub-parts for you.  If you…

Q: An example of a period cost isa. the salary of a production supervisor.b. the raw materials used in…

A: Period cost: It can be defined as the cost that is not directly related to the process of…

Q: a. Road Warrior Motor is a company that manufactures and sells cars. Indicate whether each of the…

A: The cost that can be traced back to a specific product and is included in inventory values is known…

Q: (DL), or production overhead cost (POH). (i) Wages of production line workers. Maintenance of…

A: The total manufacturing costs comprises of direct materials cost, direct labor cost and factory…

Q: Classify the following items as Direct materials, Selling and administrative expense, Factory…

A: Direct materials: Direct materials are the raw materials that are directly associated with the…

Q: 1. Property taxes on a manufacturing plant is an element of: a. Conversion cost b. Prime cost   c.…

A: Since you have posted multiple questions, we will do the first one for you. To get the other…

Q: ow is a table showing the various costs incurred by various companies. In each column, indicate the…

A: Manufacturing overheads refers to all the indirect cost which is made in order to manufacture the…

Q: 1 For a manufacturing company, which of the following is an example of a period cost rather than a…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of the following is a period cost? a. Property taxes on the production facilities. b. The…

A: Answer:- Period costs meaning:- Any expenses a business incurs that are not directly tied to the…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.