E1-12 (Static) Classifying Costs [LO 1-4] Blockett Company makes automobile sunshades and incurs the costs listed in the table below. Required: For each of the following costs, choose "Yes" to indicate if the cost is a period or category of product cost and whether it is a prime cost, conversion cost, or both. Note: Select 'No' in the inappropriate cells. Company president's salary Factory rent Cost of reflective material Wages of material cutter Wages of office receptionist Thread and glue Depreciation for salesperson's car Factory supervisor's salary Factory utilities Factory insurance Period Cost Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes PRODUCT COSTS Prime Direct Direct Manufacturing Cost Materials Labor Overhead Yes Conversion Cost
E1-12 (Static) Classifying Costs [LO 1-4] Blockett Company makes automobile sunshades and incurs the costs listed in the table below. Required: For each of the following costs, choose "Yes" to indicate if the cost is a period or category of product cost and whether it is a prime cost, conversion cost, or both. Note: Select 'No' in the inappropriate cells. Company president's salary Factory rent Cost of reflective material Wages of material cutter Wages of office receptionist Thread and glue Depreciation for salesperson's car Factory supervisor's salary Factory utilities Factory insurance Period Cost Yes Yes Yes Yes Yes Yes Yes Yes Yes Yes PRODUCT COSTS Prime Direct Direct Manufacturing Cost Materials Labor Overhead Yes Conversion Cost
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![E1-12 (Static) Classifying Costs [LO 1-4]
Blockett Company makes automobile sunshades and incurs the costs listed in the table below.
Required:
For each of the following costs, choose "Yes" to indicate if the cost is a period or category of product cost and whether it is a prime
cost, conversion cost, or both.
Note: Select 'No' in the inappropriate cells.
Company president's salary
Factory rent
Cost of reflective material
Wages of material cutter
Wages of office receptionist
Thread and glue
Depreciation for salesperson's car
Factory supervisor's salary
Factory utilities
Factory insurance
Period
Cost
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Direct
Materials
Yes
PRODUCT COSTS
Direct Manufacturing
Labor
Overhead
Prime
Cost
Conversion
Cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb2efbf62-83ad-4555-96ea-2b720e89c1e5%2Fa90cf59b-6838-44c4-8a7f-3863f066adab%2Fox8atrk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:E1-12 (Static) Classifying Costs [LO 1-4]
Blockett Company makes automobile sunshades and incurs the costs listed in the table below.
Required:
For each of the following costs, choose "Yes" to indicate if the cost is a period or category of product cost and whether it is a prime
cost, conversion cost, or both.
Note: Select 'No' in the inappropriate cells.
Company president's salary
Factory rent
Cost of reflective material
Wages of material cutter
Wages of office receptionist
Thread and glue
Depreciation for salesperson's car
Factory supervisor's salary
Factory utilities
Factory insurance
Period
Cost
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Yes
Direct
Materials
Yes
PRODUCT COSTS
Direct Manufacturing
Labor
Overhead
Prime
Cost
Conversion
Cost
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