Which of the following is NOT a period cost?a. Depreciation of factory maintenance equipment.b. Salary of a clerk who handles customer billing.c. Insurance on a company showroom where customers can view newproducts.d. Cost of a seminar concerning tax law updates that were attended bythe company's controller.

This is because depreciation of factory maintenance equipment is considered a product cost, as it is…

Answered: Which of the following is NOT a period…

Pkg Acc Infor Systems MS VISIO CD

10th Edition

ISBN:9781133935940

Author:Ulric J. Gelinas

Publisher:Ulric J. Gelinas

Chapter14: The Human Resources (hr) Management And Payroll Processes

Section: Chapter Questions

Problem 5DQ

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All of the following is a period cost EXCEPT: a. Salary of an accountant. b. Cost of a training session attended by the company's controller. c. Insurance on a company administration building. d. Monthly depreciation of assembly line equipment.
which of the following is a product cost for a manufacturing company : a- insurance on the corporate headquarters building b- property taxes on a factory c- depreciation on a salesperson vehicle d- the salary of a sales manager
Kareem is writing and printing a check with QuickBooks for the first time. The check is for a subcontractor who did plumbing work for a contractor. What will he categorize as an indirect expense? Select an answer: the plumber's contract labor the administrative expenses involved the contractor's hourly rate
Which of the following costs would be considered a period rather than a product cost in a manufacturing company? a. Direct materials cost. b. Property tax on the corporate headquarters. c. Electric cost to light the factory. d. Depreciation expense on manufacturing equipment.
Which of the following is NOT a period cost? Multiple Choice O Depreciation of photocopiers in the office. Salary of the accounts payable clerk Insurance on a company showroom where customers can view new products. Salary of the plant supervisor.
which one of the following is not an example of a committed fixed cost a . The cost of the accounting system of the company . b. None of the given answers . c. The depreciation cost of the Headquarters offices . d . The property taxes of the factory plant . e. The salary of the deputy manager of customer call center .
Forman's Services is a small accounting firm that offers payroll and bookkeeping services to small businesses and individuals. A local merchant has approached Will Forman, the owner, about taking over his payroll disbursements, but is concerned about the fees Forman's normally charges. The costs and revenues at Forman's Services follow. Sales revenue Costs FORMAN'S SERVICES Annual Income Statement Labor Equipment lease Rent Supplies Owner's salary Other costs Total costs Operating profit (loss) If Forman's gets the merchant's business. It will incur an additional $31,000 in labor costs. Will also estimates that he will have to Increase equipment leases by about 10 percent, supplies by 15 percent, and other costs by 5 percent. There will be no additional rent. Required: a. What are the differential costs that would be incurred as a result of adding this new client? b. Will would normally charge about $51,000 in fees for the services the store would require. How much could he offer to…
An entrepreneur of a custom sign company is reviewing reports showing the cost of printing machines, supplies, and labor so that she can make comparisons to the revenue being generated. What reports are being reviewed? a) Customer records. b) Financial statements. c) Asset reports. O d) Operation schedules.
Required: Classify the following costs as period or traceable costs. Depreciation on office building Insurance expense for factory building Product liability insurance premium Transportation charges for raw materials Factory repairs and maintenance Rent for inventory warehouse Cost of raw materials Factory wages Salary to chief executive officer Depreciation on factory Bonus to factory workers Salary to marketing staff Administrative expenses Bad debt expense Advertising expense Research and development Warranty expense Electricity for plant
Which statement is NOT true? a. Business activities begin with the acquisition of materials, property, and labor in exchange for cash. b. The conversion cycle includes the task of determining raw materials requirements. c. Manufacturing firms have a conversion cycle but retail firms do not. d. A payroll check is an example of a product document of the payroll system. e. A journal voucher is actually a special source document.
Which of the following would not be an element of factory overhead? a. salary of a marketing manager b. amortization on the maintenance equipment c. salary of the plant supervisor d. property taxes on the plant buildings

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