Identify whether each of the following costs is a product cost or a period cost. a. Depreciation

Question:

Identify whether each of the following costs is a product cost or a period cost.

a. Depreciation on salesperson’s car

b. Salary of factory supervisor

c. Overtime premium paid on night shift

d. Insurance on corporate offices

e. Property taxes for factory

f. Supplies such as nails, glue, and thread used in production

g. Freight cost on products shipped to customers

h. Salary of computer technician for the office

i. Advertising expense

j. Depreciation of machine used in production

k. Salary of chief financial officer

l. Salary of lawyer in a legal firm

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Accounting

ISBN: 9780137689453

1st Edition

Authors: Jennifer Cainas, Celina J. Jozsi, Kelly Richmond Pope

See More Books

Question Posted: Sep 02, 2023 07:15 AM

See More Questions

Identifying product and period costs Required Indicate whether each of the following costs is a product cost or a period (selling and administrative) cost. a. Advertising expense. b. Insurance on...
Required Indicate whether each of the following costs is a product cost or a period cost: a. Cleaning supplies for the office. b. Freight on goods purchased for resale. c. Salary of the marketing...
Indicate whether each of the following costs is a product cost or a period cost: a. Cleaning supplies for the office. b. Freight on goods purchased for resale. c. Salary of the marketing director. d....
The following is a symbolic microprogram for an instruction in the computer defined in Sec. 7-3. a. Specify the operation performed when the instruction is executed. b. Convert the four...
A truck owned by Thoni Trucking Company was involved in an accident that caused severe injuries to the Fosters (the plaintiffs). After learning of the accident, the owner (the defendant) of all but...
Take a situational view of organizational design. What roles have technology and environment played in the development of alliances and virtual organizations in the airline industry? In what ways...
A horizontal metal strip $1.0 \mathrm{~mm}$ thick and $20 \mathrm{~mm}$ wide carries a 20-A current along its length, and both the length and the width are perpendicular to a uniform magnetic...
On January 4, 2014, Penman Company purchased 124,000 shares of Hi Energy Company directly from one of the founders for a price of $44 per share. Hi Energy has 400,000 shares outstanding, including...
(d) For the following Boolean expression, give: i. The truth table F(a, b, c, d) = ( + b.d).(c.b.a. + .d) ii. The Karnaugh map iii. The minimal sum of products expression
Do we need a conceptual framework in Australia? Why?
Assume the same data from Problem 1 except that the work in process inventory increased by $2,000 and the finished goods inventory decreased by $3,000. a. What was cost of goods manufactured? b. What...
What role do most practitioners think dividend policy plays in determining share values?
A Personal Care Study conducted by TABS Analytics shows that Walmart has a 19.4 percent share of the $40 billion personal care market, while grocery stores Kroger and Publix have a 16.6 percent...
Biofuels to combat global warming and cut carbon emissions are diverting corn from food to fuel, and a World Resources Institute report says meeting a 20 percent bioenergy target in 2050 would need...
Describe the link between web site design and supporting customers through stages of the buying process.
Chinese exports of pharmaceutical products and health supplements worldwide jumped 3 percent to $56 billion last year. Chinese pharma exports to the U.S. rose 4 percent. Questions are being asked in...
An experiment that awarded teachers higher pay if their students test results were higher suggests that the bonuses didnt simply lead teachers to teach to the test, but provided their students with...
An elevator rail is assumed to meet specifications if its diameter is between 0.98 and 1.01 inches. Each year a company produces 100,000 elevator rails. For a cost of $10/2 per year the company can...
What impact has the Internet had on the globalization of small firms? How do you think small companies will use the Internet for business in the future?
Selected account balances for the year ended December 31 are provided below for Superior Company: Selling and administrative salaries?????????? $110,000 Insurance, factory???????????????..??? ? ?...
Supply the missing data in the following cases. Each case is independent of the others. Case 2 3 Direct materials. $6,000 $4,500 $5,000 $3,000 Direct labor... S7,000 $4,000 $3,000 Manufacturing...
Visic Corporation, a manufacturing company, produces a single product. The following information has been taken from the companys production, sales, and cost records for the just completed year. The...
XYZ Inc. owned a milling machine that had with originally cost $800,000. On June 29th, 2021 this machine was accidentally damaged by ABC Corp. and became was only good for scrap, and its salvage...
a municipal securities dealer may consider all of the following in determining a fair and reasonable price for a municipal security, except: A. The best judgment of the dealer as to the value of the...
Complete the balance sheet for Delivery Specialists based on the following financial data: Balance Sheet Delivery Specialists December 31, 2014 Assets Cash $8,005...

Identify whether each of the following costs is a product cost or a period cost. a. Depreciation

Question:

Step by Step Answer:

a b C d e f g h i j Depreciation on salespersons car Sa...View the full answer

Managerial Accounting

Students also viewed these Business questions