Question: Please categorize the following costs under either variable or absorption costing: 1. Direct materials 4. Fixed factory overhead 2. Direct labor 5. Selling & Administrative

Please categorize the following costs under either variable or absorption costing:

1. Direct materials 4. Fixed factory overhead

2. Direct labor 5. Selling & Administrative expenses

3. Variable factory overhead

Variable costing Absorption costing

Product costs Product costs

Period costs Period costs

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!

Q:

The following costs were incurred in August: Direct Materials $20,000 Direct Labor $18,000 Manufacturing (Factory) Overhead $21,000 Selling and Administrative Expenses $37,000 (1) What is the amount...

Q:

By producing 4,000 units and selling 3,600 units of its only product, Rina Corporation incurred the following costs: variable factory costs: $12; variable selling and administrative cost: $3; Fixed...

Q:

(LO 2) Calculate the cost of goods manufactured using the following information: Direct materials Direct labor Factory overhead costs General and administrative expenses Selling expenses Work in...

Q:

Calculate the cost of goods sold using the following information Direct materials Direct labor Factory overhead costs General and administrative expenses Seling expenses Work in Process inventory,...

Q:

Polk Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2012, the company incurred the following costs. I have attached excel sheet . everything that is...

Q:

Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials $8.18...

Q:

1 Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the...

Q:

TCO 1) George Corporation has an estimated monthly sales of 3,200 units for $35 per unit. Variable costs include manufacturing costs of $18 and distribution costs of $7. Fixed costs are $20,000 per...

Q:

The investment Barike is interested in acquiring one of these companies the impact that each company's cost structure might have on its profitabi Instructions () Calculate each company's degree of...

Q:

I need help answering these pretest questions? It is for Accounting class Name: ______________________________________ Take Home Pre-Test (Exam 2 Material) Extra Credit - 15 Points Instructions: TO...

Q:

Using the following financial data, complete the balance sheet and sales information. All calculations based on a 365 day year. The cells in grey should be filled in. Each cell is worth 2 points, 18...

Q:

You are a partner in the professional ethics division of your firm's national office, responsible for investigating possible ethical violations by your firm's personnel. You just finished reading...

Q:

2 a A company is developing a new games console. The console games will be stored on a ROM chip once the program to run the new game has been fully tested and developed. i Give two advantages of...

Q:

Which is NOT a form of PHI? Select your response Written Electronic Spoken Encrypted

Q:

LO4 Explain the various methods of estimating a firms supply of human resources.

Q:

LO3 Discuss methods for estimating an organizations demand for human resources.

Q:

What are four trends (or attributes) in the Canadian labour market that have implications for a human resource manager? Explain your answer, citing which of the human resource functions will be...