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12. Which TWO of the following would be regarded as cost objects?
a) A branch of a high street chemists
b) An accounts department
C) Wood used in making a chair
d) Rent paid on a factory
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- A. Which of the following costs is not a product cost? Depreciation on the plant installed in the factory The electricity cost of the office of factory foreman The cost of shipping finished products to customers The cost of fuel used in the factory B. Which of the following costs is not a period cost? Advertising cost Sales commission Interest Direct labor C. Which of the following would not be classed as a service department? The maintenance department The canteen The finance department The assembly department D. Job costing is the most suitable method for? Oil processing units Transport Companies Sugar Industry Repair shops E. Paper mills are must adopt? Unit costing Process costing Job costing Contract costingWhich of the following manufacturing costs is an indirect cost of producing a product? a.commissions for sales personnel b.memory chips for a microcomputer manufacturer c.oil lubricants used for factory machinery d.hourly wages of an assembly workerWhich of the following costs is best classified as a fixed cost with respect to volume of activity? (See your Chapter 20 notes, page 5) Direct labor Electricity used to heat, light, and cool a factory Cleaning supplies used in an automobile assembly plant Straight-line depreciation expense of a machine used in a factory Total cost of salaries paid to quality inspectors in a manufacturing plant Tires used in an automobile manufacturing plant
- QUESTION 12 Which of the following costs is not a product cost? The cost of fuel used in the factory The electricity cost of the office of factory foreman Depreciation on the plant installed in the factory The cost of shipping finished products to customersWhich of the following costs is not a product cost? *1 pointa. Depreciation on the plant installed in the factoryb. The electricity cost of the office of factory foremanc. The cost of shipping finished products to customersd. The cost of fuel used in the factoryWhich of the following costs would be included as part of the factory overhead costs of a computer manufacturer? A.The cost of memory chips B.Depreciation of testing equipment C.Wages of computer assemblers D. The cost of disk drives
- Assign each of the following expenses to either the machine cost pool or the factory cost pool: A. property taxes B. heat and air-conditioning C. electricity, machines D. plant depreciation E. electricity, plant F. machine maintenance wagesA manufacturing company has two service and two production departments. Building Maintenance and Factory Office are the service departments. The production departments are Assembly and Machining. The following data have been estimated for next years operations: The direct charges identified with each of the departments are as follows: The building maintenance department services all departments of the company, and its costs are allocated using floor space occupied, while factory office costs are allocable to Assembly and Machining on the basis of direct labor hours. 1. Distribute the service department costs, using the direct method. 2. Distribute the service department costs, using the sequential distribution method, with the department servicing the greatest number of other departments distributed first.This list contains costs that various organizations incur; they fall into three categories: direct materials (DM), direct labor (DL), or overhead (OH).t Classify each of these items as direct materials, direct labor, or overhead. Glue used to attach labels to bottles containing a patented medicine. Compressed air used in operating paint sprayers for Student Painters, a company that paints houses and apartments. Insurance on a factory building and equipment. A production department supervisors salary. Rent on factory machinery. Iron ore in a steel mill. Oil, gasoline, and grease for forklift trucks in a manufacturing companys warehouse. Services of painters in building construction. Cutting oils used in machining operations. Cost of paper towels in a factory employees washroom. Payroll taxes and fringe benefits related to direct labor. The plant electricians salaries. Crude oil to an oil refinery. Copy editors salary in a book publishing company. Assume your classifications could be challenged in a court case. Indicate to your attorneys which of your answers for part a might be successfully disputed by the opposing attorneys and why. In which answers are you completely confident?
- Listed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost. Wages of administrative staff Shipping costs on merchandise sold Wages of workers assembling computers Cost of lease on factory equipment Insurance on factory Direct materials used in production of lamps Supervisor salary, factory Advertising costs Property taxes, factory Health insurance cost for company executives Rent on factoryIdentify 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 salariesClassify the following costs of this new product as direct materials, direct labor, manufacturing overhead, selling, or administrative 1. President's salary. 2. Packages used to hold the skin wipes. 3. Cleaning materials used to clean the skin wipe packages. 4. Wages of workers who package the product. 5. Cost of advertising the product. 6. The salary of the supervisor of the workers who package the product. 7. Cost accountant's salary (the accountant works in the factory). 8. Cost of a market research survey. 9. Sales commissions paid as a percent of sales. 10. Depreciation of administrative office building. Problem B Classify the costs listed in the previous problem as either product costs or period costs.