Cost Accounting 1. Instruction: Indicate whether the cost is variable or fixed based on behavior; period cost: selling and administrative cost or product cost: direct or indirect. Use the table provided for your answer. Behavior Period Cost Product Cost Cost Variable Fixed Selling Admin Direct Indirect Boxes used for packaging finished costs Cloth used in T-shirt Depreciation of delivery equipment Depreciation of executive cars Factory Supplies Fringe Benefits of assembly line workers Fringe benefits of office employees Ink used in textbooks Insurance of finished goods warehouses Lubricants used for machines Microchips used in producing cellphones Office Supplies President's life insurance Property taxes of factory building Salesman commissions Shipping costs on merchandise sold Supervisors' salaries, factory Wages of tontdesk officers Wages of laborers Wages of workers in the assembly line Wood used in the production cabinets Glue in the production tables Lease of office building Insurance on a building used in producing cars Lease of factory equipment

Q: If the Activity-Based Costing (ABC) method's main intention is to find a possibility to cut the…

A: ABC (Activity based costing) framework was created to manage the drawbacks of customary costing…

Q: ncome from operations is one of the most important items reported by a company. Depending on the…

A: Absorption costing: Absorption costing is used to compute cost of a product. Under this method cost…

Q: Insurance expense incurred on a factory building would be treated as a a. selling cost b. period…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Which of the following is correct with respect to closing out overapplied manufacturing overhead…

A: The correct answer is  Option a.) Cost of goods sold will be lower.....

Q: true or false. plase answer Assembly line worker’s wages is a controllable cost, product cost,…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: All's accounting work normally has more focus on future perspective, has be timely and involves…

A: Financial Management: Financial management comprises of two words i.e. Finance and management.…

Q: Cost Accounting Instruction: Indicate whether the cost is variable or fixed based on behavior;…

A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…

Q: PART A Classify each cost below as being either variable (VC) or fixed (FC) with respect to the…

A: The costs that changes with the level of production are said to be variable costs and the costs that…

Q: (a) Incomplete manufacturing costs, expenses, and selling data for two different cases are as…

A:

Q: A music company has these costs: Advertising Paper inserts for CD cases Blank CDs CD plastic cases…

A: Product costs are those costs which are incurred in manufacturing of products. Period costs are…

Q: 1. Classify the costs in the items below using the following format below. Identify the right answer…

A: The costs are classified as direct, indirect and factory overhead cost.

Q: APPLY THE CONCEPTS: Determine the total fixed cost Costs that are not tied to changes in production…

A: Fixed costs are those costs which do not change with change in level of activity. For example,…

Q: Cost behavior refers to the manner in which a. a cost is used in setting selling prices b. a cost is…

A: solution 1: Cost behavior refers to the manner in which "a cost changes as the related activity…

Q: Activity-based costing can be used to allocate period costs to various products that the company…

A: Activity-Based Costing: Activity-based costing, or ABC for short, is a way of allocating overhead…

Q: The production manager wants to achieve real and permanently decrease in the unit cost of the…

A: A planned constructive solution to reducing spending is cost reduction. Cost reduction is described…

Q: 1. Which of the following is a hybrid costing system that applies to batches of like or similar…

A: Note : As per answering guidelines only first question need to be answered However i answered…

Q: Cost Variable Fixed Selling Admin Direct Indirect President’s life insurance             Property…

A: The product costs are directly or indirectly related to the production and included in cost of goods…

Q: Which of the following is true about absorption costing? No fixed factory overhead is charged to…

A: Solution: The true statement about absorption costing is that "over-applied factory overhead is…

Q: INSTRUCTIONS: Putting an X in the appropriate spot, classify the…

A: In this question we have the classify the cost between the direct material or direct labor or…

Q: Classification of Costs The following are the costs incurred by a printing company:1. Print machine…

A: 1 and 2

Q: Costs that are not tied to changes in production level across the relevant range are known as "fixed…

A: Total FC always remain constant and does not vary with the production level.

Q: Tracking the flow of costs The Jimenez Toy Company makes wooden toys. The company uses a process…

A:

Q: What type of cost accounting system would be most appropriate to be used by a candy making company?…

A: Manufacturing Company: A manufacturer is a person or corporation that manufactures completed things…

Q: Classify each cost as being either variable or fixed with respect to the number of units produced…

A: Variable cost: Costs which vary with the level of output. Eg: material cost, labour cost etc Fixed…

Q: Shipping, selling, marketing, sales order processing, return processing, and advertising activities…

A: Hello I am only answering first question as per the policy and if you want others to be answered…

Q: ost Variable Fixed Selling Admin Direct Indirect Wages of front desk officers             Wages of…

A: The fixed costs are the costs that remains constant at every level of production and variable costs…

Q: Direction: Identify each statement whether it is true or false. Cost of general advertising is…

A: Costs are defined as expenses in monetary terms against supplies, equipment, services, products as…

Q: Thomas Traders WLL provide you with the following cost items. Analyse the cost description in Column…

A: Direct material means the material used direct in production of any product. Direct labor means the…

Q: Identify whether the cost are variable overhead cost or fixed overhead cost in relation to product…

A: The answer for the question on identifying variable overhead cost and fixed overhead cost is…

Q: . Classify each cost as either fixed or variable, and either a product or a period cost by placing…

A: Cost: cost is the expenses incurred in a Firm Classification of Costs Cost can be classified into 2…

Q: Cost Classification  Match each cost to the appropriate cost behavior pattern shown in graphs (a)…

A: Cost behaviour pattern exhibits the pattern in which the expenses change or remain stable over…

Q: 1. Classify the costs in the items below using the following format below. Identify the right answer…

A: The components of cost can be presented in the form of a statement, i.e., a Cost Sheet. Such…

Q: Cost Behavior Cover-to-Cover Company is a manufacturer of shelving for books. The company has…

A: Cost refers to the amount that is used for buying something in exchange for a product or the cost of…

Q: Thomas Traders WLL provide you with the following cost items. Analyse the cost description in Column…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: 1. If management wants the most accurate product cost, which of the following costing methods should…

A: Costing method refers to the way of calculating the total cost of a final product. It is a tool in…

Q: Classify each cost as being either variable or fixed with respect to the number of units produced…

A: Variable costs are costs which changes with change in activity level. Fixed costs are those costs…

Q: A music company has these costs: Classify each cost as a period or a product cost. Within the…

A: Product costs would be those cost which directly connected to the manufacturing of goods or service…

Q: State whether and how the following situations are possible or not on introducing a JIT system of…

A: Just in time is an inventory costing system used to value inventories where it has been used to…

Q: Match each definition with its related term by selecting the appropriate term in the dropdown…

A: Match each definition with its related term by selecting the appropriate term in the dropdown…

Q: ment, operating income can be determined using absorption costing or variable costing. Select…

A: Variable costing might exclude certain direct fixed costs, whereas absorption costing covers all…