For each item listed below, indicate in the space to the left whether the item would...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
For each item listed below, indicate in the space to the left whether the item would be considered a product cost or a period cost for a manufacturing company. Use the following code: Product cost (M) Period cost (P) Factory supervisory salaries Sales commissions Income tax expense Indirect materials used Office salaries expense Property taxes on factory buildings Part B: (5 marks) Butler Hospital wants to estimate the cost for each patient stay It is a general health care facility offering only basic services and not specialized services such as organ transplants. Instructions: (2.5 marks each) 1. Classify each of the following costs as esther dırect or indirect with respect to each patient. 2. Classify cach of the following costs as either fixed or variable with respect to hospital costs per day. Direct Indirect Fixed Variable Electronic monitoring Meals for patients Nurses' salaries Parking mantenance Security For each item listed below, indicate in the space to the left whether the item would be considered a product cost or a period cost for a manufacturing company. Use the following code: Product cost (M) Period cost (P) Factory supervisory salaries Sales commissions Income tax expense Indirect materials used Office salaries expense Property taxes on factory buildings Part B: (5 marks) Butler Hospital wants to estimate the cost for each patient stay It is a general health care facility offering only basic services and not specialized services such as organ transplants. Instructions: (2.5 marks each) 1. Classify each of the following costs as esther dırect or indirect with respect to each patient. 2. Classify cach of the following costs as either fixed or variable with respect to hospital costs per day. Direct Indirect Fixed Variable Electronic monitoring Meals for patients Nurses' salaries Parking mantenance Security
Expert Answer:
Answer rating: 100% (QA)
Answer Solution PART A Period cost M and Product cost P Factory supe... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date:
Students also viewed these accounting questions
-
For each item listed below identify: (a) The answer that establishes appropriate control (b) The problem or misstatement that exists if the control is missing (c) A test to see that the control is...
-
For each item listed below, identify whether it is an advantage or disadvantage of the income statement. Item Advantage/ Disadvantage 1. Can be manipulated and managed. _____________________ 2....
-
Is cost-of-goods a product cost or a period cost?
-
This bar chart displays the demographics (age group and gender) of a Business Analysis class Business Analysts Students 23-33 3410 M lem How many male students are in the class? 65 80 130 50
-
Journalize the following transactions for Blanches Benches: a. Incurred and paid Web site expenses, $2,800. b. Incurred manufacturing wages of $10,000, 70% of which was direct labor and 30% of which...
-
A three-loop water-distribution system is depicted in Figure P4.4.7. The demands on the system are currently at junctions C(6.00 cfs), D (8.00 cfs) and E (11.0 cfs). Water enters the system at...
-
How do actors and objects fit in a sequence diagram?
-
The Coca-Cola Company is a global soft drink beverage company (ticker symbol = KO) that is a primary and direct competitor with PepsiCo. The data in Exhibits 12.1312.15 include the actual amounts for...
-
In the beginning of January 2 0 2 3 you want to estimate the value of a stock. On December 3 1 2 0 2 2 the price of the stock was $ 6 3 . 5 and you believe that the annual dividend growth rate and...
-
The Laurenster Corporation is getting into the construction business. A list of activities and their optimistic, most likely, and pessimistic completion times are given in the following table for the...
-
A) The units of velocity are the units of S kg magnetic field can be represented as C. s' and the units of force can be represented kg.m as which is equivalent to a N. S Determine the units of q. B)...
-
Question: Identify the big-O time complexity of each of the following functions: void fl (int n) { for (int i=0; i < (3*n+n); ++i) { } cout < < i < < endl; for (int i=0; i < (10*n); ++i) { cout < < i...
-
What is the role of change resistance management in addressing individual and organizational barriers to change? Additionally, how do strategies for identifying resistance sources, mitigating...
-
Using a four-month moving average on the data given in the spreadsheet, determine one-step-ahead and two-step-ahead forecasts for July through December 2016. Compare their performance. (Hint: In the...
-
Alice, Bob and Carol use the the elliptic curves encryption scheme to communicate, and use the elliptic curve digital signature algorithm (ECDSA) to sign all messages they send. They decided on the...
-
A 55 turn circular coil has a radius of 19.7 cm. A current of 2.35 A flows through the coil. Determine the magnetic field magnitude B at the center of the coil. B =
-
Explain how the contribution of each factor of production differs in an agricultural economy from that in an industrialised economy.
-
From a medical tourist perspective, compare Shouldice with the traditional hospital in terms of the key factors of competition. Using Table 15-3, why would Shouldice attract patients from outside the...
-
Repeat the requirements in E11- 14 assuming that Kurtis Koal Company, Inc. acquired the asset on August 1 of the current year. Use partial- year depreciation without adopting any of the acceptable...
-
Orlando Incorporated pro-vided the following comparative balance sheets and the results of operations for the current year. Additional Information: 1. O rlando sold investments with a cost of $...
-
Seramin Importers, Inc. sells coffee pots for $ 80 each. On November 12, the company sold 35 to a customer on account with terms of 1/ 15, n/ 30. The customer paid for 25 of the coffee pots on...
-
Which of the three quarters exhibited the most consistent increase in value for this security?
-
What are the medians for the range (maximum to minimum) for the years 1989 and 1998? Was there an identifiable trend over the 10 years between these two values?
-
For the year 1995, what are the maximum sales for womens clothing and the minimum for mens?
Study smarter with the SolutionInn App