Indicate whether each of the following costs associated with production would be classified as Direct Materials, Direct Labor or Manufacturing Overhead. Hourly workers assembling goods Grease used to maintain machines Factory property taxes Bike frame used to build a racing bike Salaried supervisor responsible for several product lines – Manufacturing Overhead Depreciation on production equipment Factory utilities – Manufacturing Overhead Salary for salespeople - Factory insurance Salary of chief financial officer Raw materials used in production easily traced to a product Computer equipment depreciation for accounting department Production line workers salary Glue used to assemble toys Insurance for factory equipment
Indicate whether each of the following costs associated with production would be classified as Direct Materials, Direct Labor or Manufacturing Overhead. Hourly workers assembling goods Grease used to maintain machines Factory property taxes Bike frame used to build a racing bike Salaried supervisor responsible for several product lines – Manufacturing Overhead Depreciation on production equipment Factory utilities – Manufacturing Overhead Salary for salespeople - Factory insurance Salary of chief financial officer Raw materials used in production easily traced to a product Computer equipment depreciation for accounting department Production line workers salary Glue used to assemble toys Insurance for factory equipment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Indicate whether each of the following costs associated with production would be classified as Direct Materials, Direct Labor or Manufacturing
- Hourly workers assembling goods
- Grease used to maintain machines
- Factory property taxes
- Bike frame used to build a racing bike
- Salaried supervisor responsible for several product lines – Manufacturing Overhead
Depreciation on production equipment- Factory utilities – Manufacturing Overhead
- Salary for salespeople -
- Factory insurance
- Salary of chief financial officer
- Raw materials used in production easily traced to a product
- Computer equipment depreciation for accounting department
- Production line workers salary
- Glue used to assemble toys
- Insurance for factory equipment
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