Consider the following costs that were incurred during the current year 1 Advertising cost of Nike 2 Straight line depreciation of factory machinery of Airbus Industries 3 Wages of assembly line personnel of Samsung Home Appliances 4 Delivery cost on customer shipments of Baskin Robbins ice cream 5 Newsprint paper consumed in printing the TEMPO magazine 6 Plant insurance cost of Levi Strauss 7 Glass costs incurred in light bulb manufacturing of General Electric 8 Tire costs incurred by Toyota 9 Sales commissions paid to the sales force of Apple 10 The salary of a financial vice president of Microsoft Required Prepare an answer sheet with column headings as shown below No Items Classification Product Period Cost Cost Cost Behavior Variable Fixed For Product Cost Direct Direct Overhead Material Labor Evaluate each of the preceding cost items and determine whether the cost is a product cost or period cost, a variable or fixed cost, and for the product cost only, whether the cost is a direct material, direct labor, or overhead

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Consider the following costs that were incurred during the current year  1  Advertising cost of Nike 2  Straight line depreciation of factory machinery of Airbus Industries 3  Wages of assembly line personnel of Samsung Home Appliances 4  Delivery cost on customer shipments of Baskin Robbins ice cream 5  Newsprint paper consumed in printing the TEMPO magazine 6  Plant insurance cost of Levi Strauss 7  Glass costs incurred in light bulb manufacturing of General Electric 8  Tire costs incurred by Toyota 9  Sales commissions paid to the sales force of Apple 10  The salary of a financial vice president of Microsoft Required  Prepare an answer sheet with column headings as shown below  No Items Classification Product Period Cost Cost Cost Behavior Variable Fixed For Product Cost Direct Direct Overhead Material Labor Evaluate each of the preceding cost items and determine whether the cost is a product cost or period cost, a variable or fixed cost, and for the product cost only, whether the cost is a direct material, direct labor, or overhead

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Consider the following costs that were incurred during the current year: 1. Advertising cost of Nike 2.

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Financial Accounting

Consider the following costs that were incurred during the current year: 1. Advertising cost of Nike 2.

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Financial Accounting

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