Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 5 points Skipped Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as

image text in transcribedimage text in transcribedimage text in transcribed

2 5 points Skipped Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws $ 3,170 1,120 30,000 2,000 565 Utilities for factory eBook Assembly supervisor's salary Sandpaper President's salary Print References Paint Plastic tubing Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters 900 3,540 150 5,160 4,030 250 1,200 1,010 2,010 7,000 Assume that Suzie Whitson has decided to begin production of her outdoor children's toy Required: 1 and 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or foxed cost. 3. Determine the total cost for each of the following Complete this question by entering your answers in the tabs below. 5 Req 1 and 2 Req 3 2 points Skipped Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost. (Select "NA" wherever necessary.) Costs Type of cost Cost head Cost classification Company advertising Factory rent Book Priet References Screws Wages paid to assembly workers Depreciation for salespersons' vehicles Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters Apps Gmail Ch 1 HW Part 2 waps Har biase 5 Complete this question by entering your answers in the tabs below. 2 points Skipped Req 1 and 2 Req 3 Determine the total cost for each of the following: a Direct Materials eBook b. Direct Labor Print c Manufacturing Overhead d. Prime Cost References Conversion Cost 1 Total Product Cost Total Period Cost h. Total Variable Cost L Total Fixed Cost < Req 1 and 2 Req3 > Saved

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Stacey Whitecotton, Robert Libby, Fred Phillips

2nd edition

9780077493677, 78025516, 77493672, 9780077826482, 978-0078025518

More Books

Students also viewed these Accounting questions

Question

List the impacts of analytics on decision making.

Answered: 1 week ago

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago