Match each term

Q: Identify which of the following transactions andevents are product costs and which are period…

A: The costs which can directly be attributed to a product is known as Product costs. The costs which…

Q: Identify each cost as either direct materials, direct labor, factory overhead, selling expenses, or…

A: Introduction: Depreciation: Decreasing value of fixed assets over its useful life period called as…

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 costs is a direct cost for a manufactured product? A) Depreciation Expense…

A: The direct cost is expense that can be directly traceable to specific product.

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: Identify the following costs as a product cost or a period cost for an automobile manufacturer:a.…

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

Q: The following data have been provided the Monster Manufacturing Company for the most recent period:…

A: Cost of goods manufactured is the cost incurred on the making of the goods. It is the cost which…

Q: Which account is debited when there is a normal loss related to manufacturing activity? Work in…

A: Costing profit and loss account is debited when there is normal loss in the manufacturing…

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: Company's A activity is to repair and maintaine the premises. Compan an activity-based costing (ABC)…

A: Activity based costing is a method of allocation of overhead cost of production on the basis of…

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: Please use the drop-down feature to select the most appropriate term for each description below. The…

A: Cost refers to the amount that is spent to obtain a product from the manufacturing unit or by the…

Q: Determine whether each of the following costs should be classified as product costs or period costs.…

A: Product costs are those costs that are associated with the process of manufacture and period costs…

Q: All of the following is a period cost EXCEPT:     a.  Salary of an accountant.   b. Cost of a…

A: There are two types of costs that are incurred in the business. One is product cost and other is…

Q: QUESTION 4 Indicate whether each of the following costs incurred by a manufacturer would be…

A: Product Cost - Product Cost is the cost incurred by the organization for the product of the entity.…

Q: Identify whether the following items should be included in Direct Materials (DM), Direct Labor (DL),…

A:

Q: WHAT IS THE ACTIVITY UNDER THE ABC SYSTEM FOR ACTIVITY 3 2. WHAT WOULD BE THE TOTAL OVERHEAD…

A: Here in this question we are required to calculate activity rate for activity 3, amount transferred…

Q: Assuming only Job# 2 and 3 were completed and sold, what is the cost of goods sold at year end?…

A: The manufacturing overhead cost is applied to production on the basis of

Q: Classify the following costs as either production or non-production Depreciation of plant…

A: Production Cost: This cost is directly related to the production of goods. These costs are generally…

Q: Inventories Materials Work in process Finished goods Advertising expense Depreciation expense-office…

A: Cost of goods sold was associated with cost of manufacturing an product which includes materials,…

Q: Depreciation of a factory equipment is treated as ____, while deprecation of an automobile used for…

A: Manufacturing overhead is the indirect cost that is spent in the manufacturing process. Examples of…

Q: Granger Cards is a manufacturer of greeting cards. Classify its costs by matching the costs to the…

A: Direct material refers to the material used in the manufacturing of a product that is directly…

Q: Compute cost of goods manufactured and operating income (2-28) The following are the account…

A:

Q: Depreciation of a factory equipment is treated as ____, while deprecation of an automobile used for…

A: Manufacturing overhead is the indirect cost that is spent in the manufacturing process. Examples of…

Q: Classifying Costs The following is a list of costs incurred by several businesses. Classify each of…

A: Types of costs: Product costs and period costs Types of product cost: Direct material, direct labor…

Q: Statement 1: Manufacturing overhead is an indirect cost with respect to units of product. Statement…

A: The manufacturing costs include of the product cost that are directly or indirectly related to the…

Q: Determine whether each of the following costs should be classified as product costs or period costs.…

A: Product cost means the cost of producing one unit of finished goods. Period cost means the cost that…

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: Classifying Costs as Factory Overhead Which of the following items are properly classified as part…

A: Factory overheads (manufacturing overheads) are the fixed costs that don’t change with the…

Q: Identify whether each of the following is classified as a product cost or a period cost.…

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

Q: Cost Item Rent on factory equipment Insurance on factory building Raw materials Utility costs for…

A: Product Cost :— It is total manufacturing cost incurred in the product.  It is the sum of direct…

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

A: Solution:- Indication of the proper classification of these costs as follows:- Introduction:-…

Q: Match each description to the appropriate term. Answers may be used more than once. Selling and…

A: Factory overhead is the indirect costs incurred in the production of goods and services. It includes…

Q: 1 For a manufacturing company, which of the following is an example of a period cost rather than a…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: please answer Q(c)

A: Cost of goods manufactured: The cost incurred to produce goods in a period is called cost of goods…

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

A: Introduction: The sum paid by a corporation to get an insurance contract, as well as any additional…

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: The following is part of Production Overheads   a. Office Salary   b. Depreciation of Office…

A: Solution: "Depreciation of Machine" is part of Production Overheads. This is because depreciation of…

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…

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.