Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match each of the following costs with the appropriate classification. Clear All Gloves for factory machine operators Fees paid for lawn service for office grounds Salary of secretary to vice president of finance Salary of secretary to vice president of marketing Production supervisor's salary Product cost - direct materials Product cost - factory overhead Period cost - administrative expense Period cost-selling expense Product cost - direct labor
Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches. Match each of the following costs with the appropriate classification. Clear All Gloves for factory machine operators Fees paid for lawn service for office grounds Salary of secretary to vice president of finance Salary of secretary to vice president of marketing Production supervisor's salary Product cost - direct materials Product cost - factory overhead Period cost - administrative expense Period cost-selling expense Product cost - direct labor
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Transcribed Image Text:Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches.
Match each of the following costs with the appropriate classification.
Clear All
Gloves for factory machine
operators
Fees paid for lawn service
for office grounds
Salary of secretary to vice
president of finance
Salary of secretary to vice
president of marketing
Production supervisor's
salary
Product cost - direct
materials
Product cost - factory
overhead
Period cost - administrative
expense
Period cost-selling expense
Product cost - direct labor
Expert Solution
Step 1
COST CLASSIFIED
Cost classification means the separation of the group of expenses into different Cost categories which is Mostly DM, DL & Expenses.
Cost classification is basically there are three broad categories as per this classification, namely Labor Cost, Materials Cost and Expenses. These heads of Cost Categories make it easier to classify the costs in a cost sheet.
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