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 Mages paid to assembly workers $3,170 1,120 30,000 Depreciation for salespersons' vehicles 2,000 Screws 565 tilities for factory 500 Assembly supervisor's salary 3,540 P Sandpaper 150 President's salary 5,160 Plastic tubing 4,030 Paint Sales commissions Factory Insurance Depreciation on cutting machines Wages paid to painters 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 (MOF) 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. LO 5 2 ponts 3. Determine the total cost for each of the following Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 Skoped Determine the total cost for each of the following: P a Direct Materials References b Direct Labor C Manufacturing Overhead d Prime Cost e Conversion Cost t Total Product Cost 9 Total Period Cost h Total Variable Cost L Total Fixed Cost 5 2 pants Skipped Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 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 au direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs variable or fixed cost. (Select "NA" wherever necessary.) Costs eflock Factory rent Pr Company advertising References Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Pant Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters Type of cost Cost head Cost classification

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

Step: 3

blur-text-image

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