Cost ClassificationsEvilene 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 / NOBroom inspectors' salariesAssembly worker hourly wagesResearch and development for new motorsFactory manager's salaryDepreciation - broom assembly equipmentCEO administrative assistant salaryWood for handlesCustomer service agents' salariesSalespersons' commissionsFactory maintenance crew salariesRaw materials receiving department salariesNewspaper advertisingDepreciation - CFO company carStraw for broomsSalespersons' salariesShipping costs to customersManufacturing Non-Manufacturing Product or PeriodXPRODUCTXXPRODUCTPERIODPRODUCTXXXPRODUCTPERIODPRODUCTXXPERIODXPERIODXXPRODUCTPRODUCTPERIODPERIODXXXPRODUCTXPERIODXXPERIODInventoryYESYESNOYESYESNOYESNONOYESYESNONOYESNONOV-FVVFFFFVFVFFFFVFV

Cost Classification: Inventory Manufacturing and Selling Cost can be classified into following…

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 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 Salespersons' commissions actory maintenance crew salaries Raw materials receiving department salaries Newspaper advertising Depreciation - CFO company car Straw for brooms Salespersons' salaries. Shipping costs to customers Manufacturing Non-Manufacturing Product or Period X X PRODUCT PRODUCT PERIOD PRODUCT X X X PRODUCT X PERIOD PRODUCT X X PERIOD X PERIOD X PRODUCT PRODUCT X X PERIOD X PERIOD X PRODUCT X PERIOD X X PERIOD Inventory YES YES NO YES YES NO YES NO NO YES YES NO NO YES NO NO V-F V V F F F F V F V F F F F V F V

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 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 Salespersons' commissions actory maintenance crew salaries Raw materials receiving department salaries Newspaper advertising Depreciation - CFO company car Straw for brooms Salespersons' salaries. Shipping costs to customers Manufacturing Non-Manufacturing Product or Period X X PRODUCT PRODUCT PERIOD PRODUCT X X X PRODUCT X PERIOD PRODUCT X X PERIOD X PERIOD X PRODUCT PRODUCT X X PERIOD X PERIOD X PRODUCT X PERIOD X X PERIOD Inventory YES YES NO YES YES NO YES NO NO YES YES NO NO YES NO NO V-F V V F F F F V F V F F F F V F V

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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Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below:
Green Thumb Gardening is a small gardening service that uses activity-based costing to estimate costs for pricing and other purposes. The proprietor of the company believes that costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depends on whether the beds are low maintenance beds (mainly ordinary trees and shrubs) or high maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below: Activity Cost Pool Caring for lawn Caring for garden beds-low maintenance Caring for garden beds-high maintenance Travel to jobs Customer billing and service Activity Cost Pool Caring for lawn Caring for garden beds-low maintenance Caring for garden beds-high maintenance Travel to jobs Customer billing and service The company already has completed its first stage allocations of costs and…
Green Thumb Gardening is a small gardening service using activity-based costing to estimate costs for pricing and other purposes. The owner of the company believes costs are driven primarily by the size of customer lawns, the size of customer garden beds, the distance to travel to customers, and the number of customers. In addition, the costs of maintaining garden beds depend on whether the beds are low- maintenance beds (mainly ordinary trees and shrubs) or high-maintenance beds (mainly flowers and exotic plants). Accordingly, the company uses the five activity cost pools listed below: Activity Cost Pool Caring for lawn Caring for garden beds-low maintenance Caring for garden beds-high maintenance Travel to jobs Customer billing and service Activity Measure Square feet of lawn Square feet of low-maintenance beds Square feet of high-maintenance beds Miles Number of customers The company completed its first-stage cost allocations and summarized its annual costs and activity as follows:…
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