​Wheels, Inc. manufactures wheels for​ bicycles, tricycles, and scooters. For each cost given​ below, determine if the cost is a product cost or a period cost. If the cost is a product​ cost, further determine if the cost is direct materials​ (DM), direct labor​ (DL), or manufacturing overhead​ (MOH) and then determine if the product cost is a prime​ cost, conversion​ cost, or both. If the cost is a period​ cost, further determine if the cost is a selling expense or administrative expense​ (Admin). Cost​ (a) is answered as a guide. ​(If an answer does not​ apply, leave the box​ blank.) Product Product Period Cost DM DL MOH Prime Conversion Selling Admin. a. Metal used for rims X     X       b. Sales salaries               c. Rent on factory               d. Wages of assembly                 workers               e. Salary of production                 supervisor               f. Depreciation on                 office equipment               g. Salary of CEO               h. Delivery expense                 Choose from any drop-down list and then continue to the next question.

Q: Direct materials would be considered a?   Group of answer choices Step Cost Mixed Cost Fixed Cost…

A: Hi Student Since there are multiple questions,we will answer only first question. If you want…

Q: Required information [The following information applies to the questions displayed below.] Victory…

A: In this question we Compute cost per equivalent unit of production for both direct materials and…

Q: Ehrlich Manufacturing produces small boats. The following list represents some of the different…

A: Product cost are those cost which incurred to produce the product. Example, direct material, direct…

Q: Benton Corporation manufactures computer microphones, which come in two models: Standard and…

A: The current costing system represents the traditional costing method in which the total overheads…

Q: Classify the following Business Solutions manufacturing expenses as (a) variable (V) or fixed (F)…

A: Variable price: The expenses are related to the number of commodities produced or services rendered.…

Q: Classify each of the cost items ​(​a-h​) into one of the business functions of the value chain.…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: A cost driver is a factor, such as machine-hours, that is used to allocate direct costs to a…

A: Direct costs:Direct cost is simply a cost or price that can directly related to the production of…

Q: The internal cost analysis process involves the following in what order? (A) Identify the links…

A: Internal cost analysis used for analysing value creating process and opportunity to reduce its cost…

Q: In your own words, explain the difference between absorption costing and variable costing methods.…

A: Absorption costing: Its also called as Full costing.

Q: Dengo Company makes a trail mix in two departments: Roasting and Blending. Direct materials are…

A: Direct materials refers to the tangible components that make up a product. Cost accounting uses the…

Q: Which of the following formulae is used to calculate the cost per equivalent unit of production…

A: Equivalent units of production = Fully and partially completed units expressed as , % of fully…

Q: Summary of material costs by key items (GFE etc; not just a $ ROM) for manufacturing electric b

A: Answer: Material costs are the cost that relates purely to the materials used in manufacturing any…

Q: than Manufacturing Incorporated produces floor mats for automobiles. The owner, Joseph Ethan, has…

A: The variable cost is the cost that changes with the level of activity. The maintenance cost…

Q: Which of these costs would be the most difficult to estimate when you know exactly how many units…

A: When you know exactly how many units will be produced, the cost of materials used in the product…

Q: Please indicate which are product costs and which are period costs.   Under Absorption Costing:…

A: Solution:- Under Absorption Costing:- Absorption costing consists direct materials, direct labor,…

Q: What are the answers to Total Manufacturing cost for both Garcon Co. and Pepper Co.?

A: Formula: Total Manufacturing costs = Direct materials used + Direct labor + Total factory overhead.

Q: The unit cost… a. is the total conversion costs divided by the number of units produced. b. is the…

A: Solution A unit cost is a total expenditure incurred by a company to produce , store and sell one…

Q: 2. Equivalent units of production (A) will always be greater than or equal to the physical units (B)…

A: "Since you have asked multiple questions, we will solve only first question for you. If you want any…

Q: The following costs have been identified in relation to the production of a product except :…

A: The production cost includes direct material, direct labor, and other manufacturing overhead.

Q: In detail discuss what are  the advantages and disadvantages of using FIFO for process costing. In…

A: First-in First-out(FIFO) method under process costing is based on the assumption that at the…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.