Question
Classify the following costs as either product (inventoriable) costs or period cost 1.Depreciation on salespersons' cars a.Product cost b.Period cost 2.Rent on equipment used in
Classify the following costs as either product (inventoriable) costs or period cost
1.Depreciation on salespersons' cars
a.Product cost
b.Period cost
2.Rent on equipment used in the factory
a.Product cost
b.Period cost
3.Lubricants used for machine maintenance
a.Product cost
b.Period cost
4.Salaries of personnel who work in the finished goods warehouse
a.Product cost
b.Period cost
5.Soap and paper towels used by factory workers at the end of a shift
a.Product cost
b.Period cost
6.Factory supervisors' salaries
a.Product cost
b.Period cost
7.Heat, water, and power consumed in the factory
a.Product cost
b.Period cost
8.Materials used for boxing products for shipment overseas (units are not normally boxed)
a.Product cost
b.Period cost
9.Advertising costs
a.Product cost
b.Period cost
10.Workers' compensation insurance for factory employees
a.Product cost
b.Period cost
11.Depreciation on chairs and tables in the factory lunchroom
a.Product cost
b.Period cost
12.The wages of the receptionist in the administrative offices
a.Product cost
b.Period cost
13.Cost of leasing the corporate jet used by the company's executives
a.Product cost
b.Period cost
14.The cost of renting rooms at a Florida resort for the annual sales conference
a.Product cost
b.Period cost
15.The cost of packaging the company's product
a.Product cost
b.Period cost
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
