Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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

College Accounting

Authors: Heintz and Parry

20th Edition

1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192

More Books

Students also viewed these Accounting questions

Question

What is beacon marketing? What are digital wallets?

Answered: 1 week ago

Question

What types of cyber incivility have you observed or heard about?

Answered: 1 week ago