Select the appropriate classification for each of the costs incurred by a manufacturer of automobiles. Cost of tires Direct materials Cost of windshields used in the production process Direct materials Factory supplies Administrative expense Factory security costs Overhead Factory janitorial costs Overhead Depreciation of vehicles used by sales personnel Selling expense General accounting costs Administrative expense Salary of chief executive officer

Select the appropriate classification for each of the costs incurred by a manufacturer of automobiles. Cost of tires Direct materials Cost of windshields used in the production process Direct materials Factory supplies Administrative expense Factory security costs Overhead Factory janitorial costs Overhead Depreciation of vehicles used by sales personnel Selling expense General accounting costs Administrative expense Salary of chief executive officer

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4E: For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as...

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For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as either a product cost or a period cost: a. Advertising expenses b. Chief financial officers salary c. Depreciation on office equipment d. Depreciation on sewing machines e. Fabric used during production f. Factory janitorial supplies g. Factory supervisors salaries h. Property taxes on factory building and equipment i. Oil used to lubricate sewing machines j. Repairs and maintenance costs for sewing machines k. Research and development costs l. Sales commissions m. Salaries of distribution center personnel n. Salaries of production quality control supervisors o. Travel costs of media relations employees p. Utility costs for office building q. Wages of sewing machine operators
Statement of cost of goods manufactured and income statement for a manufacturing company The following information is available for Robstown Corporation for 20Y8: Instructions 1. Prepare the 20Y8 statement of cost of goods manufactured. 2. Prepare the 20Y8 income statement.
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Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Automobile engine b. Brake pads c. Depreciation of robotic assembly line equipment d. Glass for front and rear windshields e. Safety helmets and masks for assembly line workers f. Salary of quality control inspector g. Steering wheel h. Tires i. Wages of assembly line workers
A furniture shop has enumerated the following cost determine the classification of the following according to Function (Manufacturing or Non Manufacturing), Traceability (Direct or Indirect ) and Timing Recognition( Product or Period). According to Function Traceability Timing of Recog Plywood Nails Taxes & Licenses Machine Operator Quality Controller Insurance
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost:a. Wheelsb. Glass used in the vehicle’s windshieldc. Wages of assembly line workerd. V8 automobile enginee. Depreciation of robotic assembly line equipmentf. Steering wheelg. Painting safety masks for employees working in the paint roomh. Salary of test driver
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Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost: a) Depreciation of robotic assembly line equipment b) V8 automobile engine c) Steering wheel d) Wheels e) Painting safety masks for employees working in the paint room f) Salary of test driver g) Glass used in the vehicle's windshield h) Wages of assembly line worker Note: material and labor costs are directs costs that could be easily traced to a product. Factory overhead costs are indirect costs that are not easily traced to a product and are generally used in the manufacturing process.
Which of the following costs would be included on an income statement for both a merchandising company and a manufacturing company. Group of answer choices operating expenses direct materials direct labor incurred cost of goods manufactured
Complete the table below by classifying each cost as either a product cost or a period cost; for product costs, further classify as a direct cost or an indirect cost. (Select NA if not applicable.) Cost Amount Productor Period Director Indirect Plastic material and springs for clips $329 select a type of cost Correct answer select a classification Correct answer CEO’s salary 119 select a type of cost Correct answer select a classification Correct answer Advertising 34 select a type of cost Correct answer select a classification…
For apparel manufacturer Abercrobmie & Fitch, Inc., classify each of the following costs as either a product cost or a period cost: Research and development costs Depreciation on sewing machines Fabric used during production Depreciation on office equipment Advertising expenses Repairs and maintenance costs for sewing machines Salary of production quality control supervisor Utility costs for office building Sales commissions Salaries of distribution center personnel Wages of sewing machine operators Factory janitorial supplies Chief financial officer’s salary Travel costs of media relations employees Factory supervisors’ salaries Oil used to lubricate sewing machines Property taxes on factory building and equipment

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Cost of tires	Direct materials
Cost of windshields used in the production process	Direct materials
Factory supplies	Administrative expense
Factory security costs	Overhead
Factory janitorial costs	Overhead
Depreciation of vehicles used by sales personnel	Selling expense
General accounting costs	Administrative expense
Salary of chief executive officer