Identify the following costs as a product cost or a period cost for an automobile manufacturer:a. Steelb. Wages of employees that operate painting equipmentc. Rent on office buildingd. Sales staff salaries

Q: Which of the following would most likely be a product cost? O A. Salary of VP of sales O B.…

A: Product cost includes all those costs which are directly attributable to the process of converting…

Q: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is…

A: Introduction: Product costs & Period costs: Product costs are direct costs. Period costs are…

Q: Which of the following manufacturing costs is an indirect cost of producing a product? Oa. hourly…

A: Indirect cost is the cost which is not directly involved in the making of the goods but is part of…

Q: Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether each of the following…

A: INTRODUCTION Direct Materials are the raw materials which are directly attributable for the…

Q: Which of the following is part of factory overhead cost? a.depreciation of sales person's vehicle…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: Compute the cost of goods manufactured.

A: Managerial accounting is the branch of accounting used to generate reports for the purpose of…

Q: Which of the following is a product cost? A) Sales commissions B) CEO's salary C) Delivery van…

A: Product costs are related to manufacturing and are part of cost of inventory.

Q: Instruction: Identify the following: 1. The amount which represents cost incurred to produce goods…

A: "Since you have posted a question with multiple sub parts, we will solve first three sub parts for…

Q: Which of the following accounts would be a period cost rather than a product cost?     Freight out.…

A: Cost: It can be defined as the total amount that is spent by a business in manufacturing a product

Q: IDENTIFY THE FOLLOWING COST FOR THE PRODUCTION AND SALE OF A LAWN MOWER COMPANY WHETHER DIRECT…

A: Product cost: Product costs are the costs which are incurred in the production of the goods. These…

Q: assify each of the costs as either a product or period cost. Then, classify each of the product…

A: Product cost is included within the inventory valuation, that is simply opposite in the case of…

Q: Identify each of the following costs as either a product cost or a period cost. Factory maintenance…

A: Period costs: These costs are not related to inventory, hence, they are not added to inventory…

Q: Indicate whether each of the following costs of an automobile manufacturer would be classified as…

A: Indicate whether each of the given cost of an automobile manufacturer would be classified under…

Q: Below is a table showing the various costs incurred by various companies. In each column, indicate…

A: The total cost of all resources utilized in the production of a product is known as manufacturing…

Q: Which of the following will be included in manufacturing overhead costs? O A. Salaries of salesmen O…

A: Manufacturing overhead cost refers to those indirect factory related cost which is incurred in order…

Q: A car manufacturer incurs the following costs. Classify each cost as either a product or period…

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

Q: Blankenship Company, maker of wood shelving, incurred the following cost during current year. Is the…

A: Solution 1: Product costs are those costs which are incurred in the process of manufacturing…

Q: IDENTIFY THE FOLLOWING COST FOR THE PRODUCTION AND SALE OF A LAWN MOWER COMPANY WHETHER DIRECT…

A: Cost of production is the total cost incurred by the producer for the manufacturing of goods or for…

Q: Which of the following items is an indirect cost? A. The rent of the factory in which products are…

A: explanation : A. The rent of the factory in which products are madeB. The wages of the production…

Q: Which of the following costs would be included in the cost of a manufactured product according to…

A: Under variable costing method, only variable cost considered and included in production cost and…

Q: How do we calculate factory cost? Prime cost + Opening WIP- Closing WIP+ Factory Overhead b. Total…

A: Factory cost includes the cost incurred on the factory on the goods that are meant to sold.

Q: Which of the following costs is not a product cost?  Depreciation on the plant installed in the…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: which of the following is a product cost for a manufacturing company : a- insurance on the…

A: Product cost includes all the costs involved to create a product i.e direct material, direct labour…

Q: Indicate whether the following costs of P r oct er & Gamb le , a maker of consumer products, would…

A:

Q: Presented below is a list of costs and expenses usually incurred by Barnum Corporation, a…

A: Direct material refers to the cost of material that is directly identifiable with the product…

Q: A schedule of the cost of finished goods manufactured is a helpful tool in determining the per-unit…

A: Explain several ways in which information about per-unit manufacturing costs is used by (a)…

Q: For each cost item, indicate whether it would be variable or fixed with respect to the number of…

A: Variable cost represents the cost that is directly related to the output whereas the fixed costs…

Q: Which of the following items would be considered factory overhead for a automobile manufacturer?…

A: Factory overhead is a cost that is incurred in manufacturing process or for maintaining production…

Q: a. Salary of quality control supervisor b. Packing supplies for products sold. These supplies are a…

A: “Since you have asked multiple sub-parts, we will solve the first three sub-parts for you.  If you…

Q: Classification of Costs Following is a list of costs from Oakland Company, a furniture…

A:

Q: How would sales salaries be classified for a manufacturing company? Group of answer choices product…

A: Manufacturing company refers to the company which produces the finished goods from the RM (Raw…

Q: Indicate whether the accounts below are used in the cost flow for a manufacturer, a service…

A: The cost of service is part of the service provider and the Cost of goods sold, Factory overhead,…

Q: Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether each of the following…

A: Definition: Direct labor cost: The employees working on a particular job use time tickets to record…

Q: Classify the following costs incurred by a steel railing manufacturing company as: (1) direct…

A: Direct Material: Material utilized in assembling measures which turns into a necessary piece of the…

Q: 2. The entry to assign the costs of indirect labor for the janitor responsible for cleaning the…

A: Overheads refer to the various operating expenses which are incurred during the production process.…

Q: ow is a table showing the various costs incurred by various companies. In each column, indicate the…

A: Manufacturing overheads refers to all the indirect cost which is made in order to manufacture the…

Q: Identify the following costs as direct materials (DM), direct labor (DL), or factory overhead (FO)…

A: a.

Q: Which  of the following would most likely be included as part of manufacturing overhead in the…

A: Manufacturing overhead costs are also called indirect costs.

Q: Identify each of the following costs as either a product cost (PROD) or a period cost (PER). Rent on…

A: Solution: Introduction: Product Costs are the costs which are directly associated with the…

Q: Identify the following costs as a prime cost (P), conversion cost (C), or both (B) for an automobile…

A: Prime cost: Prime cost refers to a cost which is directly involved in the process of manufacturing…

Q: Indicate whether each of the following should be considered a product cost or a period cost. I you…

A: Direct costs: Costs which are directly traceable to the product called direct cost. Example : Direct…

Q: Which of the following is a prime cost? A.Factory maintenance expenses B.Administrative labor…

A: Prime cost of the business means cost of direct material and direct labour. Direct material and…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.