The cost objects and distinguish among cost and indirect costs.

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Answer 1

Question

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

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The industrial enterprise "HUANG S.A." purchased a sorting and packaging machine from a foreign company on 1/4/2017 at a cost of €500,000. The useful life of the machine was estimated by the Management at ten (10) years, while the residual value was estimated at zero. For the transportation of the machine from abroad to the company's factory, the amount of €20,000 was paid on 15/4/2017. As the insurance coverage of the machine during transportation was the responsibility of the selling company, HUANG S.A. proceeded to insure the machine from 16/4/2017 to 15/4/2018, paying the amount of €1,200. The delivery took place on 15/4/2017. As adequate ventilation of the multifunction device is essential for its proper operation, the company fitted an air duct on the multifunction device. The cost of the air duct amounted to €2,000 and was paid on 20/4/2017. On 25/4/2017, an external electrician was paid €5,000 for the electrical connection of the device. The company also paid €5,000 to an…

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Answer 2

Question

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

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Answer 3

Question

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

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Answer 4

Question

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

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Answer 5

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

Answer 6

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.

Answer 7

Chapter 4, Problem 1LO

To determine

The cost objects and distinguish among cost and indirect costs.

Answer 8

Expert Solution & Answer

Explanation of Solution

A thing for which one is planning to identify the cost is termed as cost object. The main difference among direct costs and indirect cost is not only that the direct costs could be traced to particular cost objects, but also it tends to be the variable costs. On the other hand, the indirect costs are much likely to be one among the period or fixed costs.