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Assume that Suzie Chang has decided to begin production of her outdoor children's toy. Required: 1 & 2 . Identify each of the preceding costs
Assume that Suzie Chang has decided to begin production of her outdoor children's toy.
Required:
& 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 and also identify each of the preceding costs as variable or fixed cost.
Assumes that screws, sandpaper, and paint are not worth the effort to trace to specific units.
Determine the total cost for each of the following:
Answer is complete but not entirely correct.
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Req and
Req
Determine the total cost for each of the following:
Your friend, Suzie Chang, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzies 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
Utilities for factory
Assembly supervisors salary
Sandpaper
Presidents salary
Plastic tubing
Paint
Sales commissions
Factory insurance
Depreciation on cutting machines
Wages paid to painters
Assume that Suzie Chang has decided to begin production of her outdoor childrens toy.
Required:
& 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. Assumes that screws, sandpaper, and paint are not worth the effort to trace to specific units.
Determine the total cost for each of the following:
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