Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs. The Fixed and Variable cost classifications have been provided for you. Direct Direct Item/Cost Material Labor Overhead Period Costs Fixed Variable Salary - Collar maker Salary - Leash maker Salary - Harness maker Salary - Receptionist High-tensile strength nylon webbing Polyester/nylon ribbons Buckles made of cast hardware X Depreciation on sewing machines Rent Utilities and insurance Scissors, thread, and cording Price tags Office supplies Other business equipment Loan payment Salary to self x x x x

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Milestone One - Cost Classification
INSTRUCTIONS:
Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs.
The Fixed and Variable cost classifications have been provided for you.
Direct
Direct
Item/Cost
Material
Labor
Overhead
Period Costs
Fixed
Variable
Salary - Collar maker
Salary - Leash maker
Salary - Harness maker
Salary - Receptionist
High-tensile strength nylon webbing
Polyester/nylon ribbons
Buckles made of cast hardware
Depreciation on sewing machines
Rent
Utilities and insurance
Scissors, thread, and cording
Price tags
Office supplies
Other business equipment
Loan payment
Salary to self
Transcribed Image Text:Milestone One - Cost Classification INSTRUCTIONS: Putting an X in the appropriate spot, classify the costs as: Direct Material, Direct Labor, Overhead, or Period Costs. The Fixed and Variable cost classifications have been provided for you. Direct Direct Item/Cost Material Labor Overhead Period Costs Fixed Variable Salary - Collar maker Salary - Leash maker Salary - Harness maker Salary - Receptionist High-tensile strength nylon webbing Polyester/nylon ribbons Buckles made of cast hardware Depreciation on sewing machines Rent Utilities and insurance Scissors, thread, and cording Price tags Office supplies Other business equipment Loan payment Salary to self
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