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I need help with this task. Instructions After reading, studying and analyzing chapter 1 of the book Accounting Managerial, available in the Cengage database in
I need help with this task. Instructions
After reading, studying and analyzing chapter 1 of the book Accounting Managerial, available in the Cengage database in the Virtual Library, and other relevant resources (optional resources, videos and others indicated by the teacher), solve the following exercises:
- Direct materials, direct labor, and factory overhead
- Identify the following costs as direct materials (DM), direct labor (DL), or factory overhead (FO): (8 pts.)
- Wages of assembly line employees
- Maintenance for production machines
- Fabrics used to make product
- Factory rent
- Prime and conversion costs
- Identify the following costs as prime cost (P), conversion costs (C), or both (B) for a furniture manufacturer: (8 pts.)
- Wages of the sanding process employees
- Wood
- Insurance cost
- Utilities cost
- Product and period costs
- Identify the following costs as product cost or period costs: (8 pts.)
- Factory rent
- Plastic used to make a toy
- Office building rent
- Quality assurance workers
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