E22.4E22.4 (LO 1) Family Furniture Corporation incurred the following costs.Classify variable, fixed, and mixed costs.1. 1. Wood used in the production of furniture.2. 2. Fuel used in delivery trucks.3. 3. Straight-line depreciation on factory building.4. 4. Screws used in the production of furniture.5. 5. Sales staff salaries.6. 6. Sales commissions.7. 7. Property taxes.8. 8. Insurance on buildings.9. 9. Hourly wages of furniture craftsmen.10. 10. Salaries of factory supervisors.11. 11. Utilities expense.12. 12. Telephone bill.InstructionsIdentify the costs above as variable, fixed, or mixed.1

E22.4 E22.4 (LO 1) Family Furniture Corporation incurred the following costs. Classify variable, fixed, and mixed costs. 1. 1. Wood used in the production of furniture. 2. 2. Fuel used in delivery trucks. 3. 3. Straight-line depreciation on factory building.

E22.4 E22.4 (LO 1) Family Furniture Corporation incurred the following costs. Classify variable, fixed, and mixed costs. 1. 1. Wood used in the production of furniture. 2. 2. Fuel used in delivery trucks. 3. 3. Straight-line depreciation on factory building.

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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E1.5 (LO 2), C Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. 1. Property taxes on the factory building. 2. Production superintendents' salaries. 3. Memory boards and chips used in assembling computers. 4. Depreciation on the factory equipment. 5. Salaries for quality control inspectors. 6. Sales commissions paid to sell laptop computers. 7. Electrical components used in assembling computers. 8. Wages of workers assembling laptop computers. 9. Soldering materials used on factory assembly lines. 10. Salaries for the night security guards for the factory building. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. Instructions List the items (1) through (10). For each item, indicate the cost category th which it belongs.
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EX25-7
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