Question: XYZ Corporation MILESTONE 1 - Cost Classification Exercise INSTRUCTIONS: Classify each item or cost as: Direct Material, Direct Labor, Manufacturing Overhead or Period Costs.

XYZ Corporation MILESTONE 1 - Cost Classification Exercise INSTRUCTIONS: Classify each item

XYZ Corporation MILESTONE 1 - Cost Classification Exercise INSTRUCTIONS: Classify each item or cost as: Direct Material, Direct Labor, Manufacturing Overhead or Period Costs. The fixed and variable cost classifications have been provided for you. For more information see Objective 1 in Chapter 5. Direct Direct Manufacturing Item/Cost Material Labor Overhead Period Costs Fixed Variable Groomer X Day care attendant Receptionist Kennel attendant Food and water bowls Fencing for day care area Installation of fencing Dog grooming arm (attaches to table) 12 kennels cost Depreciation on kennels X. Rent Utilties and insurance X Grooming table Grooming tub 48" Heating system Depreciation on heating system X Clippers Shampoo (Crystal Clear: five-gallon pail) X Cage bank (set of five) Salon Tuff Capri mobile carry cart Towels Scissors (7-inch straight, ear & nose) X Toys (used in day care only) X Cleaning products (used throughout) X Dryer Rubberized flooring (day care) Loan Draw

Step by Step Solution

★★★★★

3.45 Rating (155 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Classification of costs in pet grooming and daycare center ItemsCost Direct Material Direct Labour M... 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

Students Have Also Explored These Related Accounting Questions!

A spending variance for each item or classification of cost should be reported to responsible management each period. Why?

Please fill in the missing spots in this income statement. Accounting 102 Chapter 15 Sales Direct Materials Direct Labor Overhead Total Manufacturing Costs Work in Process - January 1 Work in Process...

Crystal Clear Cleaning has decided that, in addition to providing cleaning services, it will sell cleaning products. Crystal Clear uses the perpetual inventory system. During December 2017, Crystal...

XYZ Corporation MILESTONE 1- Cost Classification Exercise INSTRUCTIONS Classify each item or cost as: Direct Material, Direct Labor, Manufacturing Overhead or Period Costs The fixed and variable cost...

Managerial Accounting INSTRUCTIONS FOR MILESTONE 1 (Due Week 2) IMPORTANT NOTE Make sure to completely review the Rubric for Milestone 1 Use the data from this Milestone and begin working on your...

Scenario: You plan to open a pet-services business that will offer dog grooming, day care, and boarding. There are 12 kennels (single dog only) and the day care area can house 10 large dogs and 12...

Please provide the correct cost classifications for the ones highlighted in yellow and provide explanations if possible. XYZ Corporation MILESTONE 1 - Cost Classification Exercise INSTRUCTIONS:...

COST CLASSIFICATION Accurately classify all of your costs (direct material, direct labor, manufacturing overhead, period costs) Fixed & Variable cost designation is provided Pawsitively MILESTONE 1 -...

Please follow Milestone 1 for this assignment. Thank you. 6 MILESTONE 2 (Due in Module 4) MILESTONE 3 (Due in Module 5) MILESTONE 1 (Due in Module 2) 7 9 10 Instructions Milestone 2 12 1. .5...

variable & fixed cost exercises 8:134 II'ISGEE} E learn.snhu.edu OPERATIONAL & COST INFORMATION: For simplicity, base all calculations using 30 days in each month OPERATIONAL DATA Grooming: e Groomer...

Write a short note on Integrative Psychology

help!!!! Financial Statements Wilhelm Kohl started a business in May 20-- called Kohl's Home Repair The trial balance and analysis of the change in owner's equity for the month of May are shown....

1/ Paula, a former actress, spends all her income attending plays and movies and likes plays exactly three times as much as she likes movies. Draw her indifference map. Paula has $120/wk budget for...

Question 14 A company using job-order costing had the following transactions during a calendar year for Job 101: January 1 February 1 March 1 June 1 Date Direct materials purchased Direct materials...

Mr. X will retire in 10 years and currently has $200,000 in retirement account. He assumes that he will live up to 20 years after retirement. During those 20 years, he projects annual expenses of...

Required information Comprehensive Problem 11-71 (LO 11-1, LO 11-2, LO 11-3, LO 11-4, LO 11-5, LO 11-6) Skip to question [The following information applies to the questions displayed below.] Moab...

The following variable production costs apply to goods made by Walton Manufacturing Corporation: \ table [ [ Item , Cost per unit ] , [ Materials , $ 1 4 . 0 0

Cassandra Casey operates the Futuristic Antique Store. She maintains subsidiary ledgers for accounts payable and accounts receivable. She presents you with the following information for October 2019:...

Premier Products Inc. has three departments and uses the process cost system of accounting. A portion of the departmental cost work sheet prepared by the cost accountant at the end of July is...

What impact does income tax have on the break-even point?

Using the earnings data developed in E, and assuming that this was the 8th week of employment for Herbert and the previous earnings to date were $7,900, prepare the journal entries for the following:...

Kennedy Company had a defined benefit obligation of $6,300,000 and plan assets of $4,900,000 at January 1, 2019. Kennedy has the following data related to the plan during 2019. Discount (interest)...

Jackson Company adopts acceptable accounting for its defined benefit pension plan on January 1, 2018, with the following beginning balances: plan assets $200,000 and defined benefit obligation...

Chen Group sponsors a defined benefit pension plan for its employees. On January 1, 2019, the following balances related to this plan (amounts in thousands). Plan assets (fair...