Philadelphia Acoustics builds innovative speakers for music and home theater systems. Consider the following costs: .:. Requirement
Question:
Philadelphia Acoustics builds innovative speakers for music and home theater systems. Consider the following costs:
.:.
Requirement
Identify the costs as variable (V), fixed (F), or mixed (M).
1. Units of production depreciation on routers used to cut wood enclosures. 6. Straight-line depreciation on manufacturing plant. 2. Wood for speaker enclosures. 3. Patents on crossover relays. 4. Total compensation to salesperson, who receives a salary plus a commission based on meeting sales goals. 7. Grill cloth. 8. Cell phone costs of salesperson (plan includes 1,200 minutes; overseas calls are charged at an average of $0.15 per minute). 9. Glue. 5. Crossover relays. 10. Quality inspector's salary.
Step by Step Answer:
V Units of production depreciation on routers used to ...View the full answer
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Related Video
In accounting terms, depreciation is defined as the reduction of the recorded cost of a fixed asset in a systematic manner until the value of the asset becomes zero or negligible. An example of fixed assets are buildings, furniture, office equipment, machinery, etc. The land is the only exception that cannot be depreciated as the value of land appreciates with time. Depreciation allows a portion of the cost of a fixed asset to be the revenue generated by the fixed asset. This is mandatory under the matching principle as revenues are recorded with their associated expenses in the accounting period when the asset is in use. This helps in getting a complete picture of the revenue
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