Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Textbook Question
Chapter 1, Problem 4BE
Product and period costs
Identify the following costs as a product cost or a period cost for a magazine publisher:
- A. Sales salaries
- B. Paper used for the magazine
- C. Maintenance on printing machines
- D.
Depreciation expense—corporate headquarters
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Students have asked these similar questions
Identify the following costs as a product cost or a period cost for a magazine publisher:a. Sales salariesb. Paper used for the magazinec. Maintenance on printing machinesd. Depreciation expense—corporate headquarters
Identify the following costs as a prime cost (P), conversion cost (C), or both (B) for a magazine publisher:
a. Paper used for the magazine
b. Wages of printing machine employees
c. Glue used to bind magazine
d. Maintenance on printing machines
Question Content Area
Which of the following would be included in the cost of a product manufactured according to absorption costing?
a. sales salaries
b. advertising expense
c. office supplies costs
d. depreciation expense on factory building
Chapter 1 Solutions
Managerial Accounting
Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - What manufacturing cost term is used to describe...Ch. 1 - Distinguish between prime costs and conversion...Ch. 1 - What is the difference between a product cost and...Ch. 1 - Name the three inventory accounts for a...Ch. 1 - In what order should the three inventories of a...Ch. 1 - What are the three categories of manufacturing...Ch. 1 - How do the manufacturing costs incurred during a...Ch. 1 - How does the Cost of goods sold section of the...
Ch. 1 - Management process Three phases of the management...Ch. 1 - Prob. 2BECh. 1 - Prime and conversion costs Identify the following...Ch. 1 - Product and period costs Identify the following...Ch. 1 - Cost of goods sold, cost of goods manufactured...Ch. 1 - Jakes Cabins is a small motel chain with locations...Ch. 1 - Indicate whether each of the following costs of an...Ch. 1 - Indicate whether the following costs of Procter ...Ch. 1 - Prob. 3ECh. 1 - For apparel manufacturer Abercrombie Fitch, Inc....Ch. 1 - From the choices presented in parentheses, choose...Ch. 1 - Prob. 6ECh. 1 - Classifying costs In a service company A partial...Ch. 1 - Classifying costs The following is a manufacturing...Ch. 1 - Financial statements of a manufacturing firm The...Ch. 1 - Manufacturing company balance sheet Partial...Ch. 1 - Cost of direct materials used in production for a...Ch. 1 - Prob. 12ECh. 1 - Cost of goods manufactured for a manufacturing...Ch. 1 - Income statement for a manufacturing company Two...Ch. 1 - Statement of cost of goods manufactured for a...Ch. 1 - Cost of goods sold, profit margin, and net income...Ch. 1 - Cost flow relationships The following information...Ch. 1 - The following is a list of costs that were...Ch. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of Foothills Medical Centers costs...Ch. 1 - Manufacturing income statement, statement of cost...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Prob. 1PBCh. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of The Grand Hotels costs follows:...Ch. 1 - Several items are omitted from the income...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Comfort Plus, Inc., has a hotel with 300 rooms in...Ch. 1 - Prob. 2MADCh. 1 - Comparing occupancy for two hotels Sunrise Suites...Ch. 1 - Prob. 4MADCh. 1 - Prob. 5MADCh. 1 - Prob. 1TIFCh. 1 - Communication Todd Johnson is the Vice President...Ch. 1 - For each of the following managers, describe how...Ch. 1 - The following situations describe scenarios that...Ch. 1 - Geek Chic Company provides computer repair...Ch. 1 - Which of the following items would not be...Ch. 1 - Prob. 2CMACh. 1 - A firm has 100,000 in direct materials costs,...Ch. 1 - In practice, items such as wood screws and glue...
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- Prime and conversion costs Identify the following costs as a prime cost (P), conversion cost (C), or both (B) for a magazine publisher: A. Paper used for the magazine B. Wages of printing machine employees C. Glue used to bind magazine D. Maintenance on printing machinesarrow_forwardFor apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as either a product cost or a period cost: a. Advertising expenses b. Chief financial officers salary c. Depreciation on office equipment d. Depreciation on sewing machines e. Fabric used during production f. Factory janitorial supplies g. Factory supervisors salaries h. Property taxes on factory building and equipment i. Oil used to lubricate sewing machines j. Repairs and maintenance costs for sewing machines k. Research and development costs l. Sales commissions m. Salaries of distribution center personnel n. Salaries of production quality control supervisors o. Travel costs of media relations employees p. Utility costs for office building q. Wages of sewing machine operatorsarrow_forwardListed 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 factoryarrow_forward
- Which of the following is a product cost? A) Sales commissions B) CEO's salary C) Delivery van depreciation D) Depreciation on production equipmentarrow_forwardClassifying Costs as Product or Period Costs For apparel manufacturer Abercrombie & Fitch, Inc., classify each of the following costs as either a product cost or a period cost: Item Classification a. Cost of information technology support for the corporate headquarters b. Depreciation on sewing machines c. Fabric used during production d. Depreciation on office equipment e. Advertising expenses f. Repairs and maintenance costs for seving machines g. Salary of production quality control supervisor h. Utility costs for office building i. Sales commissions j. Salaries of distribution center personnel k. Wages of sewing machine operators I. Factory janitorial supplies m. Chief financial officer's salary n. Travel costs of media relations employees o. Factory supervisors' salaries Oil used to lubricate sewing machines q. Property taxes on factory building and equipmentarrow_forwardwhich 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 managerarrow_forward
- Which of the following costs would be considered a period rather than a product cost in a manufacturing company? Manufacturing equipment depreciation. Property taxes on corporate headquarters. Direct materials costs. Electrical costs to light the production facility.arrow_forwardProperty taxes on a company’s factory building would be classified as a(n): a. Product cost b. Opportunity cost c. Period cost d. Variable cost e. Administrative cost f. Selling costarrow_forwardListed 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. a. Wages of administrative staff b. Shipping costs on merchandise sold C. Wages of workers assembling computers d. Cost of lease on factory equipment e. Insurance on factory f. Direct materials used in production of lamps g. Supervisor salary, factory h. Advertising costs_ i. Property taxes, factory j. Health insurance cost for company executives k. Rent on factoryarrow_forward
- For manufacturing firms, inventoriable costs include ________. a. plant supervisor salaries. b. depreciation motor vehicles – sales staff. c. advertising costs. d. distribution costs.arrow_forwardIndicate whether each of the following costs is a product cost or a period (selling and administrative) cost: Event a. b. C. Advertising costs. d. e. f. g. Goods purchased for resale. Salaries of salespersons. h. i. Transportation-out. Interest on a note payable. Salary of the company president. Transportation-in. Insurance on the office building. Office supplies.arrow_forwardIdentify each of the following costs as either a product cost or a period cost. Factory maintenance sales commissions depreciation factory equipmentarrow_forward
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