Question: Indicate whether each of the following items is a variable (V), fixed (F), or mixed (M) cost and whether it is a product/ service (PT)

Indicate whether each of the following items is a variable (V), fixed (F), or mixed (M) cost and whether it is a product/ service (PT) or period (PD) cost. If some items have alternative answers, indicate the alternatives and the reasons for them.
a. Wages of factory maintenance workers
b. Wages of forklift operators who move finished goods from a central warehouse to the outbound loading dock
c. Insurance premiums paid on the headquarters of a manufacturing company
d. Cost of labels attached to shirts made by a company
e. Property taxes on a manufacturing plant
f. Paper towels used in factory restrooms
g. Salaries of office assistants in a law firm
h. Freight costs of acquiring raw material from suppliers
i. Computer paper used in an accounting firm
j. Cost of wax to make candles
k. Freight-in on a truckload of furniture purchased for resale

Step by Step Solution

★★★★★

3.41 Rating (185 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a V PT could be mixed b V PD c F PD d V PT e F PT f V PT could be fixed if paper towel rolls are ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

146-B-C-A-C-B-M (253).docx

120 KBs Word File

Students Have Also Explored These Related Cost Accounting Questions!

Indicate whether each of the following items is an asset (A), liability (L), or part of owners equity (OE). _______(a) Accounts receivable _______(d) Office supplies _______(b) Salaries payable...

Indicate whether each of the following items is an adjustment to the balance per books (BK) or to the balance per bank statement (BS) on a reconciliation that adjusts the bank balance and the bank...

Indicate whether each of the following items is associated with (a) Allocating the cost of inventories in accordance with the accrual accounting, (b) Assessing the impact of inventory decisions, (c)...

Indicate whether each of the following items is a variable (V),fixed (F), or mixed (M) cost and whether it is product/service (PT)or period (PD) cost. If some items have alternative answers,indicate...

14. Cost Behavior and Classification Classify each of the following costs incurred in manufacturing bicycles as variable (V), fixed (F) or mixed (M) cost (using number of units produced as the...

managerial accounting questions ask for solution!! thank you! QUESTION 1: SHORT ANSWER CONTINUED... QUESTION 2: COST OF GOODS MANUFACTURED, INCOME STATEMENT (9 marks) ABC Company has provided the...

Cost behavior and classification) Classify each of the following costs ncurred in manufacturing bicycles as variable (V), fixed (F), or mixed (M) cost (using number of units produced as the activity...

Classify each of the following costs incurred in manufacturing bicycles as variable (V), fixed (F), or mixed (M) cost using number of units produced as the activity measure). Also indicate whether...

Classify each of the following costs, incurred in manufacturing bicycles, as variable (V), fixed (F), or mixed (M) cost (using number of units produced as the activity measure). Also indicate whether...

(Cost classifications) Indicate whether each of the following items is a vari able (V), fixed (F), or mixed (M) cost and whether it is a product or service (PT) cost or a period (PD) cost. If some...

In P2-2, assume that the company desires a safety stock of 500 gallons. Required: 1. Compute the average number of gallons in inventory. 2. Compute the total carrying cost. 3. Compute the total order...

A recent news release published by Ars Technica, LLD presented the results of a study concerning the world and domestic market share for the major manufacturers of personal computers (PCs). The file...

4. The demand for an item is 20,000 units per year. The item can be produced at the rate of 4000 per month. The set-up cost is Rs 3000 per cycle and the inventory carrying cost is Re 0.40 per unit...

6 Why is branding important to consumers and to organizations?

Although they should be considered independently, often the investing and financing decisions are considered together. Consider the following quote from personal finance guru Suze Orman: It drives me...

Candice Klammer was reprimanded by the home office for recommending a pollution abatement project because the project did not meet the standard financial criterion of a 12 percent rate of return....

Hollys Fashions is considering expanding its building so it can stock additional merchandise for travelers and tourists. Store manager Jill Eliason anticipates that building expansion costs would be...

You hold 100 shares of Harrington Motors, a dividend-paying stock, that generated a total return for 2012 of -5.05 percent. Which one of the following must be true? Harrington is experiencing...

Indicate whether each of the following would be in the section of financial statements identified as a) current asset b) property, plant, and equipment c) current liability d)revenue or e) expense 1....

What is the realized return percent? The following table contains prices and dividends for a stock. All prices are after the dividend has been paid. If you bought the stock on January 1 and sold it...