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DeVry University ACCT346 Week 1 Assignment-1 Identify whether each of the items below is a Product Cost or Period Cost:

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Question;DeVry University;ACCT346 Weekly Assignment;Week 1;Directions: Your assignment this week;is to answer the four questions below. Please note that Question 4 contains;multiple parts. Please show your work for full credit on Questions 4b - 4e.;1.;Identify whether each of the items below is a Product Cost or Period;Cost: (1/2 point each, total 5 points);Factory insurance;Product;Interest on bank loan;Eggs, salt, water used for baking;Depreciation on bake ovens;Paper wrappers for bread;Delivery truck costs;Advertising costs;Factory supervisor salaries;Sales Commissions;Flour used in baking bread;2.;Identify whether each of the items below is a Direct Cost or Indirect;Cost: (1/2 point each, total 5 points);Factory insurance;Indirect;Baker's wages;Eggs used for baking;Depreciation on bake ovens;Paper wrappers for bread;Cleaning materials for bake ovens;Utilities used in factory;Factory supervisor salaries;Small amount of salt used;Flour used in baking bread;3.;Identify whether each of the below is a Fixed Cost or Variable Cost;(1/2 point each, total 5 points);Shipping costs for bread;Variable;Cost of fuel for delivery truck;Factory rent;Factory insurance;Maintenance on delivery truck;Sales commissions;Hourly wages paid to baker's;assistant;Oven depreciation;Cost of fruit for cake topping;Factory utilities;4.;Classify each as direct material, direct labor, indirect labor;indirect labor, other manufacturing overhead or period cost, and then answer;the 5 questions below;4a.;Classify each cost (the first one is done for you): (5 points total);An airline manufacturer incurred the;following costs last month (in thousands of dollars);Direct;Material;Direct;Labor;Indirect;Material;Indirect;Labor;Other;Manufacturing Overhead;Period;Cost;a. Depreciation on forklifts...........................................................................;$60;$60;b. Property tax on corporate marketing;office.............................................;$30;c. Cost of warranty repairs............................................................................;$220;d. Factory janitors? wages.............................................................................;$10;e. Cost of designing new plant layout..........................................................;$190;f. Machine operators? health insurance.......................................................;$40;g. Airplane seats...........................................................................................;$270;h. Depreciation on administrative offices.....................................................;$70;i. Assembly workers? wages.........................................................................;$670;j. Plant utilities.............................................................................................;$110;k. Production supervisors? salaries................................................................;$160;l. Jet engines................................................................................................;$1,100;m. Machine lubricants....................................................................................;$20;Then, answer the below questions;4b.;How much are total manufacturing overhead costs? (5 points);4c. How much are total inventoriable product;costs? (5 points);4d.;How much are total prime costs? (5 points);4e.;How much are total conversion costs? (5 points)

 

Paper#37796 | Written in 18-Jul-2015

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