Question: Hey guys! How do I figure the total variable cost and total fixed cost? Everything else is right except for those two. Thank you! Your

Hey guys! How do I figure the total variable cost and total fixed cost? Everything else is right except for those two. Thank you!
Hey guys! How do I figure the total variable cost and total
fixed cost? Everything else is right except for those two. Thank you!
Your friend, Suzie Whitson, has designed a new type of outdoor toy

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,180 1,050 30,400 2,070 575 825 3,510 145 5,020 4,190 285 ces 1,199 2,050 7,900 Assume that Suzie Whitson has decided to begin production of her outdoor children's toy. Required: 1 and 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (OM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost 3. Determine the total cost for each of the following Req 1 and 2 Reg 3 NA es Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost. (Select "NA" wherever necessary.) Costs Type of cost Cost head Cost classification Factory rent Product MOH Fixed Company advertising (Period Fixed Wages paid to assembly workers Product DL Variable Depreciation for salespersons' vehicles Period NA Fixed Screws Product MOH Variable Utilities for factory Product MOH Variable Assembly supervisor's salary Product MOH Fixed Sandpaper Product MOH Variable President's salary Period NA Fixed Plastic tubing Product DM Variable Paint Product MOH Variable Sales commissions Period NA Variable Factory insurance Product MOH Fixed Depreciation on cutting machines Product MOH Fixed Wages paid to painters Product OL Variable Determine the total cost for each of the following: a b. C. d. e. Direct Materials Direct Labor Manufacturing Overhead Prime Cost Conversion Cost Total Product Cost Total Period Cost Total Variable Cost Total Fixed Cost $ $ $ $ $ $ $ $ $ 4,190 38,300 11,760 42,490 50,060 54,250 9,510 47,760 16,000 1. g h. 1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
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!