Part 1. Classify the above items into the following categories (a) direct materials, (b) direct labor and (c) manufacturing overhead. Presented below is a list of costs and expenses usually incurred by Stensland Corporation, a manufacturer of funiture, in its factory: 1. 1 Salaries for assembly line inspectors 2. * Insurance on factory machines 3. Upholstery used in manufacturing fumiture 4. Wages paid to assembly line workers 5. Depreciation of factory machinery 6. Salaries of factory supervisors 7. Wood used in manufacturing fumiture 8. Glue, nails, paint, and other small parts used in production 9. Property taxes on factory building 10. Factory manager's salary

Part 1. Classify the above items into the following categories (a) direct materials, (b) direct labor and (c) manufacturing overhead. Presented below is a list of costs and expenses usually incurred by Stensland Corporation, a manufacturer of funiture, in its factory: 1. 1 Salaries for assembly line inspectors 2. * Insurance on factory machines 3. Upholstery used in manufacturing fumiture 4. Wages paid to assembly line workers 5. Depreciation of factory machinery 6. Salaries of factory supervisors 7. Wood used in manufacturing fumiture 8. Glue, nails, paint, and other small parts used in production 9. Property taxes on factory building 10. Factory manager's salary

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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