Evilene makes flying brooms.She has characterized the company's costs below.Indicate in the shaded box whether she is correct, by using YES if you agree and NO if you disagree.YES / NONoYesBroom inspectors' salariesAssembly worker hourly wagesResearch and development for new motorsFactory manager's salaryDepreciation - broom assembly equipmentCEO administrative assistant salaryWood for handlesCustomer service agents' salariesSalespersons' commissionsCost ClassificationsFactory maintenance crew salaries.Raw materials receiving department salariesNewspaper advertisingDepreciation - CFO company carStraw for broomsSalespersons' salariesShipping costs to customersManufacturing Non-Manufacturing Product or PeriodXPRODUCTPRODUCTXPERIODPRODUCTPRODUCTPERIODPRODUCTPERIODPERIODPRODUCTPRODUCTPERIODPERIODPRODUCTPERIODPERIODXXXXXXXXXXXXXXXInventoryYESYESNOYESYESNOYESNONOYESYESNONOYESNONOVariable or Fixed▼V-F>>44""> "> " """>VVFFFFVFVFFFFVFV

Variable cost: Variable cost is the cost that changes with the level of production, every additional…

Evilene makes flying brooms. She has characterized the company's costs below. Indicate in the shaded box whether she is correct, by using YES if you agree and NO if you disagree. YES / NO No Yes Broom inspectors' salaries. Assembly worker hourly wages Research and development for new motors Factory manager's salary Depreciation - broom assembly equipment CEO administrative assistant salary Wood for handles Customer service agents' salaries Manufacturing Non-Manufacturing Product or Period X PRODUCT X PRODUCT PERIOD PRODUCT PRODUCT PERIOD PRODUCT PERIOD X X X X X X Inventory YES YES NO YES YES NO YES NO Variable or Fix V-F V V F F F F V F

Evilene makes flying brooms. She has characterized the company's costs below. Indicate in the shaded box whether she is correct, by using YES if you agree and NO if you disagree. YES / NO No Yes Broom inspectors' salaries. Assembly worker hourly wages Research and development for new motors Factory manager's salary Depreciation - broom assembly equipment CEO administrative assistant salary Wood for handles Customer service agents' salaries Manufacturing Non-Manufacturing Product or Period X PRODUCT X PRODUCT PERIOD PRODUCT PRODUCT PERIOD PRODUCT PERIOD X X X X X X Inventory YES YES NO YES YES NO YES NO Variable or Fix V-F V V F F F F V F

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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Selected costs related to Apple's iPhone are listed below. Classify each cost as either direct materials, direct labor, factory overhead, selling expenses, or general and administrative expenses. 1. Wages for employees who maintain assembly equipment 2. Wages for assembly workers 3. Battery component 4. Microphone component 5. Wages for factory equipment operators 6. Camera component 7. Office accountant salary 8. Advertising campaigns
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1.26 The Company bears the following costs for the manufacture of weed cutting tools: Weed cutting shaft and scissor blade Weed cutting motor Factory work for workers assembling weed cutting shears Nylon yarn used in weed cutting machine(not detected on product) Glue to hold the housing Salaries of factory foremen Factory rent Sales commissions Salaries of administrators Factory utilities Shipping costs of finished weed cutting products to customers Requested: Describe the difference between period cost and product cost Classify Lawlor costs as period costs or product costs. One costs are product costs, then classify these as direct materials, direct labor or general industrial expenses.
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The following is a list of costs for a car manufacturer. Classify each of the following costs as: a. Direct or indirect with respect to one unit (car) produced; b. Direct materials (DM), direct labor (DL), manufacturing overhead (MOH), selling (S), or administrative (A) Cost Steel used in cars CEO's salary Cost of shipping cars to customers Factory manager's salary Direct or Indirect DM, DL, MOH, S, or A