The following activities occur at Greenwich Corporation, a company that manufactures a variety of products. a. Receive raw materials from suppliers. b. Manage parts inventories. c. Do rough milling work on products. d. Interview and process new employees in the personnel department. e. Design new products. f. Perform periodic preventive maintenance on general-use equipment. g. Use the general factory building. h. Issue purchase orders for a job. Required: Classify each of the activities above as either a unit-level, batch-level, product-level, or organization-sustaining activity. a. Receive raw materials from suppliers. b. Manage parts inventories. c. Do rough milling work on products. d. Interview and process new employees in the personnel department. e. Design new products. f. Perform periodic preventive maintenance on general-use equipment. g. Use the general factory building. h. Issue purchase orders for a job.

The following activities occur at Greenwich Corporation, a company that manufactures a variety of products. a. Receive raw materials from suppliers. b. Manage parts inventories. c. Do rough milling work on products. d. Interview and process new employees in the personnel department. e. Design new products. f. Perform periodic preventive maintenance on general-use equipment. g. Use the general factory building. h. Issue purchase orders for a job. Required: Classify each of the activities above as either a unit-level, batch-level, product-level, or organization-sustaining activity. a. Receive raw materials from suppliers. b. Manage parts inventories. c. Do rough milling work on products. d. Interview and process new employees in the personnel department. e. Design new products. f. Perform periodic preventive maintenance on general-use equipment. g. Use the general factory building. h. Issue purchase orders for a job.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Becker Tabletops has two support departments (Janitorial and Cafeteria) and two production departments (Cutting and Assembly). Relevant details for these departments are as follows: Support Department Cost Driver Janitorial Department Square footage to be serviced Cafeteria Department Number of employees Line Item Description JanitorialDepartment CafeteriaDepartment CuttingDepartment AssemblyDepartment Department costs $280,000 $170,000 $1,520,000 $690,000 Square feet 50 4,900 500 4,500 Number of employees 8 2 36 24 Allocate the support department costs to the production departments using the direct method. Line Item Description CuttingDepartment AssemblyDepartment Janitorial Department cost allocation $fill in the blank 1 $fill in the…
please help me
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and Installs on behalf of its clients. The firm's direct labor Includes salaries of consultants that work at the client's job site, and its overhead consists of costs such as depreciation, utilities, and Insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 92,500 direct labor-hours would be required for the period's estimated level of client service. The company also estimated $1,156,250 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm's actual overhead cost for the year was $1,177,550 and its actual total direct labor was 97,750 hours. Required: 1. Compute the predetermined…
The following is a list of costs incurred by several manufacturing companies: Classify each of the following costs as product cost or period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense: Costs Classification a. Annual picnic for plant employees and their families b. Cost of fabric used by clothing manufacturer c. Cost of plastic for a toy manufacturer d. Cost of sewing machine needles used by a shirt manufacturer e. Cost of television commercials f. Depreciation of copying machines used by the Marketing Department g. Depreciation of microcomputers used in the factory to coordinate and monitor the production schedules h. Depreciation of office building i. Depreciation of robotic equipment used to assemble a product j. Electricity used to operate factory machinery k. Factory…
True/false 1) Activity-based costing information is recorded on a job sheet each month which is later posted to the general ledger at the end of the year. ________ 2. A factory production manager’s salary is considered an organizational sustaining activity cost. ________ 3. First stage allocation is the process by which overhead costs are assigned to activity cost pools in an activity-based costing system. ________ 4. Interviewing operating-level managers is a poor way of determining cost pools in first-stage allocation. ________ 5. Production accountants applying activity rates to cost pools in activity-based costing will be able to calculate standard costs. ________ 6. The process of budgeting often takes place during the process of evaluation. ________ 7. Preparation of the cash budget often precedes the preparation of the sales budget. ________ 8. The self-imposed budget is the same as a top-down budget. ________ 9. The Chief Executive Officer of a corporation…
How do you classify these two overhead activities of a homeless shelter. 1. Administrative staff hiring and salaries. 2. Office supplies. What would each be classified under, unit level activity, batch level activity, product-sustaining level activity or facility level activity?
Classify the above costs of Santana Corporation into activity cost pools using the following: engineering, machinery, machine setup, quality control, factory utilities, maintenance. Budgeted Costs Activity Cost Pool Machine setup, indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes Oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages
1. One of the products Al-Can Products, Inc. manufactures for their rest stops are benches. Perform the following tasks to classify and record common manufacturing costs. 2. The production of the rest stop benches requires the following costs. For each cost, determine how the cost should be classified by placing an X in the appropriate column. Wages of factory supervisor Rent of company headquarters Lumber to manufacture benches Factory property taxes Bench inspector wages Wages for the marketing manager Cleaning supplies to maintain equipment Wages of production employees Stain for the benches Direct Materials Direct Factory Labor Overhead None
Suppose you are a partner in a cosmetics manufacturing company. What is required is as follows: a. Explain the nature of the company and the various costs involved in producing your business. Classification of all items into direct and indirect category along with the number of employees or workers in production departments and other departments. B. View details of all expenses under each category, Materials, Labor, Overhead (maximum 5 and minimum 3) C. Mention opening and closing ( raw materials, semi-finished and finished goods). Prepare a cost sheet using the information in Part A and calculate the profit.
Periodically reviewing all jobs is a subtask of O a. developing job descriptions and job specifications Ob. conducting the job analysis O c. preparing for and introducing the job analysis O d. maintaining and updating job descriptions and job specifications
Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 77,500 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $775,000 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $789,800 and its actual total direct labor was 83,350 hours. Required: 1. Compute the predetermined…
Select the appropriate classification for each of the costs incurred by a manufacturer of automobiles. Cost of tires Direct materials Cost of windshields used in the production process Direct materials Factory supplies Administrative expense Factory security costs Overhead Factory janitorial costs Overhead Depreciation of vehicles used by sales personnel Selling expense General accounting costs Administrative expense Salary of chief executive officer