Determine whether each of the following costs would be classified as product costs or period costs under
Question:
Determine whether each of the following costs would be classified as product costs or period costs under a throughput-costing system.
Transcribed Image Text:
Product Cost Period Cost Commission fees for salespersons Glue for wooden chairs-variable Fabric for T-shirts Labour costs for producing TVs Factory rent expense-fixed Factory utility costs-variable Car mileage for salespersons Administrative expenses-fixed Administrative Internet connection fees Wages-assembly line
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 52% (17 reviews)
Throughput costing Product Cost Period Cost Commission fees for salesperso...View the full answer
Answered By
Munibah Munir
I've done MS specialization in finance’s have command on accounting and financial management. Forecasting and Financial Statement Analysis is basic field of my specialization. On many firms I have done real base projects in financial management field special forecasting. I have served more than 500 Clients for more than 800 business projects, and I have got a very high repute in providing highly professional and quality services.I have capability of performing extra-ordinarily well in limited time and at reasonable fee. My clients are guaranteed full satisfaction and I make things easy for them. I am capable of handling complex issues in the mentioned areas and never let my clients down.
4.60+
467+ Reviews
648+ Question Solved
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
Question Posted:
Related Video
Today’s experiment is to make glue using simple material easily available at home. For this experiment, you need 25 ml of petrol also called gasoline. 250 ml water for solubility test. A wooden stick for mixing. And most importantly4 pieces of Thermocol sheet chemically named Polystyrene. When Thermocol is dissolved in Gasoline, Glue is formed.
Students also viewed these Managerial Accounting questions
-
Determine whether each of the following is true or false. Explain why. A. Average cost equals marginal cost at the minimum efficient scale of plant. B. When total fixed cost and price are held...
-
Determine whether each of the following represents loss aversion. a. Nearing retirement, an investor chooses investments with lower return and lower risk, because she wants to make sure she has a...
-
Determine whether each of the following changes in profitability ratios normally is good news or bad news about a company. a. Increase in profit margin. b. Decrease in asset turnover. c. Decrease in...
-
The quality of information that gives assurance that it is reasonably free of error and bias and is a faithful representation is: a Neutrality b Reliability c Relevance d Verifiability
-
Consider the auditors review of a companys adjusting entries. For which one of the following would a concerned auditor be required to make a search of items not included in the accounting records? a....
-
Most firms generate cash inflows every day, not just once at the end of the year. In capital budgeting, should we recognize this fact by estimating daily project cash flows and then using them in the...
-
C2.4. Whymighta firm tradeat a price-to-book ratio(PIB) greaterthan l.0?
-
1. What steps should U.S.-based franchisors take when establishing outlets in foreign countries? 2. Describe the opportunities and the challenges franchisors face when entering emerging markets such...
-
What is the ending value (future value) of a one-year project that requires an initial investment of $100 and generates an interest rate of 5%
-
1. What are the words from the statute that establish the act requirement and the mental requirement? 2. Why did the Court hold that the jury instructions were improper? 3. By the time the Court...
-
Alta Products Ltd. has just created a new division to manufacture and sell DVD players. The facility is highly automated and thus has high monthly fixed costs, as shown in the following schedule of...
-
Information for Alta Products Ltd. is provided in P8-29A. Instructions (a) Assume the company uses normal costing and uses the budgeted volume of 2,500 units to allocate the fixed overhead rate...
-
\(X\) have a binomial distribution with parameters \(n\) and \(p\). Compare the following exact probabilities with the corresponding Poisson approximations and give reasons for possible larger...
-
You are the manager of internal audit of Coverit Corporation, a large insurance company. One day you receive an urgent letter from the controller expressing his concerns about some organizational...
-
Daintree Ltd. is a large retailer that operates department stores in all major cities throughout Australia. Recently it has expanded its operations into Southeast Asia. Although each store operates...
-
Draw two points P and Q. Then sketch PQ. Add a point R on the ray so that Q is between P and R. C D A B FL E
-
Hypothesis testing and testing claims with confidence intervals are two different approaches that lead to the same conclusion. In the following activities, you will compare and contrast those two...
-
The following system of periodic tasks is scheduled and executed according to a cyclic schedule. Draw an execution trace (timeline) showing two occurances of each task. Ti ei Pi 1 8 T2 4 15 T3 3 20...
-
a. Suppose the benchmark weights had been set at 70% equity, 25% fixed-income, and 5% cash equivalents. What then would be the contributions of the managers asset allocation choices? b. Suppose the...
-
For Problem estimate the change in y for the given change in x. y = f(x), f'(12) = 30, x increases from 12 to 12.2
-
A job cost sheet of Sandoval Company is given below. Instructions (a) Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead...
-
A job cost sheet of Sandoval Company is given below. Instructions (a) Answer the following questions. (1) What are the source documents for direct materials, direct labor, and manufacturing overhead...
-
Torre Corporation incurred the following transactions. 1. Purchased raw materials on account $46,300. 2. Raw Materials of $36,000 were requisitioned to the factory. An analysis of the materials...
-
Flexible manufacturing places new demands on the management accounting information system and how performance is evaluated. In response, a company should a. institute practices that reduce switching...
-
Revenue and expense items and components of other comprehensive income can be reported in the statement of shareholders' equity using: U.S. GAAP. IFRS. Both U.S. GAAP and IFRS. Neither U.S. GAAP nor...
-
Kirk and Spock formed the Enterprise Company in 2010 as equal owners. Kirk contributed land held an investment ($50,000 basis; $100,000 FMV), and Spock contributed $100,000 cash. The land was used in...
Study smarter with the SolutionInn App