Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Classify Costs Following is a list of various costs incurred in producing replacement automobile parts. With respect to the production and sale of these auto

Classify Costs

Following is a list of various costs incurred in producing replacement automobile parts. With respect to the production and sale of these auto parts, classify each cost as variable, fixed, or mixed.

1. Cost of labor for hourly workers
2. Factory cleaning costs, $6,000 per month
3. Hourly wages of machine operators
4. Computer chip (purchased from a vendor)
5. Electricity costs, $0.20 per kilowatt-hour
6. Metal
7. Salary of plant manager
8. Property taxes, $165,000 per year on factory building and equipment
9. Plastic
10. Oil used in manufacturing equipment
11. Rent on warehouse, $10,000 per month plus $25 per square foot of storage used
12. Property insurance premiums, $3,600 per month plus $0.01 for each dollar of property over $1,200,000
13. Straight-line depreciation on the production equipment
14. Pension cost, $1.00 per employee hour on the job
15. Packaging

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

Modern Auditing

Authors: Graham W. Cosserat, Neil Rodda

3rd Edition

0470319739, 9780470319734

More Books

Students also viewed these Accounting questions

Question

Does it highlight your accomplishments rather than your duties?

Answered: 1 week ago

Question

Does it clearly identify what you have done and accomplished?

Answered: 1 week ago

Question

Does it avoid using personal pronouns (such as I and me)?

Answered: 1 week ago