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 AllGloves for factory machineoperatorsFees paid for lawn servicefor office groundsSalary of secretary to vicepresident of financeSalary of secretary to vicepresident of marketingProduction supervisor'ssalaryProduct cost - directmaterialsProduct cost - factoryoverheadPeriod cost - administrativeexpensePeriod cost-selling expenseProduct cost - direct labor

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter4: Activity-based Costing

Section: Chapter Questions

Problem 21E: Bounce Back Insurance Company carries three major lines of insurance: auto, workers compensation,...

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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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