Which one of the following is an example of a period cost? A. A change in benefits for the union workers who work in the New York plant of a Fortune 1,000 manufacturer. B. Workers' compensation insurance on factory workers' wages allocated to the factory. C. A box cost associated with computers. D. A manager's salary for work that is done in the corporate head office.

Which one of the following is an example of a period cost? A. A change in benefits for the union workers who work in the New York plant of a Fortune 1,000 manufacturer. B. Workers' compensation insurance on factory workers' wages allocated to the factory. C. A box cost associated with computers. D. A manager's salary for work that is done in the corporate head office.

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter9: Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality Costs

Section: Chapter Questions

Problem 5Q: What factors would you consider in deciding whether to use direct labor dollars or direct labor...

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What factors would you consider in deciding whether to use direct labor dollars or direct labor hours in charging overhead to jobs in a service firm?
Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost. Wages of administrative staff Shipping costs on merchandise sold Wages of workers assembling computers Cost of lease on factory equipment Insurance on factory Direct materials used in production of lamps Supervisor salary, factory Advertising costs Property taxes, factory Health insurance cost for company executives Rent on factory
Which one of the following is an example of a period cost? A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer. Workers' compensation insurance on factory workers' wages allocated to the factory. A box cost associated with computers. A manager's salary for work that is done in the corporate head office.
Why is it important to know if a cost of production is fixed or variable? Which one of the following is an example of a period cost? A. A change in benefits for the union workers who work in the New York plant of a Fortune 1,000 manufacturer. B. Workers' compensation insurance on factory workers' wages allocated to the factory. C. A box cost associated with computers. D. A manager's salary for work that is done in the corporate head office. Discuss the role of strategic cost management in the operations of an organization.
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The ________ is the hourly price charged to clients for professional labor. salary rate billing rate wage rate job rate
Which one of the following best describes a job cost sheet? A. It is a form used to record the costs chargeable to a specific job and to determine the total and unit costs of the completed job. B. It is used to track manufacturing overhead costs for specific jobs. C. It is used by management to understand how direct costs affect profitability. D. It is a daily form that management uses for tracking worker productivity on which employee raises are based.
14. An example of labor-related costs is: a. fringe benefits b. factory labor c. bonus pay d. operating expense 15. Wages in excess of the regular rate paid for work after normal closing time is: a. Vacation and holiday pay b. Pension pay c. Overtime premium d. Regular wage 16. If the job is taken as a rush order with the knowledge that overtime will be necessary, the overtime premium should be charged to: a. General expense b. Factory overhead c. Specific job d. Selling expense 17. If the overtime premium is charge to specific job, it should be debited to: a. Work in process account b. General expense account c. Manufacturing overhead account d. Selling expense account
Which of the following would be included in factory overhead? Group of answer choices a salary of the CEO b salary of administrative assistant to the CEO c wages of assembly line worker d wages of administrative assistant at the factory