123Wood used to produce desks4 Production labor used to produce desksProduction supervisor salaryDepreciation on factory equipment7 Selling and administrative expenses8Rent on corporate office9Nails, glue, etc required to produce desks10 Utilities expenses for production facilitySales staff commissionLO5CO6ABCRoper Furniture manufactures office furniture and tracks cost data across their process. The followingare some of the costs that they incur. Classify these costs as fixed or variable costs, and as productcosts or period costs.11121314151617 Fixed18 Variable1920 ProductPeriod2122$125 per desk$15 per hour$45,000 per year$60,000 per year$45,000 per year$44,000 per yearVariesNot Available5% of salesDETIF 11121314151617181920Instructions1. DO NOT edit anything else but the color coded cells in the following mannerPick an option from the dropdownInput your answers (link/compute to avoid errors)2. Use only one of the account titles listed in the dropdown.3. Make sure your work is formatted correctly as follows - cells with numerical values are right aligned, cells with text is left aligned4. Use consistent font, font size and font color5. Numerical values should be formatted as appropriate, for example, dates, percentages and dollars should all be formatted as such6. Your grade is not only for the accuracy of your accounting work, but also for using formulas, cell references and formatting correctly

Product vs period costs: Product cost is directly related to the manufacturing of a particular…

Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks Production labor used to produce desks Production supervisor salary Depreciation on factory equipment Selling and administrative expenses Rent on corporate office Nails, glue, etc required to produce desks Utilities expenses for production facility Sales staff commission $125 per desk $15 per hour $45,000 per year $60,000 per year $45,000 per year $44,000 per year Varies Not Available 5% of sales

Roper Furniture manufactures office furniture and tracks cost data across their process. The following are some of the costs that they incur. Classify these costs as fixed or variable costs, and as product costs or period costs. Wood used to produce desks Production labor used to produce desks Production supervisor salary Depreciation on factory equipment Selling and administrative expenses Rent on corporate office Nails, glue, etc required to produce desks Utilities expenses for production facility Sales staff commission $125 per desk $15 per hour $45,000 per year $60,000 per year $45,000 per year $44,000 per year Varies Not Available 5% of sales

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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