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Leamont Troll House Cookies has been baking coconut cookies for 27 years. Classify manufacturing costs and prepare schedules for the Cost of Goods Manufactured and
Leamont Troll House Cookies has been baking coconut cookies for 27 years. Classify manufacturing costs and prepare schedules for the Cost of Goods Manufactured and the Cost of Goids Somd for the month ended March 31, 2018.
Requirement 1 a. Identify the following as either a product cost or a period cost. b. Select the appropriate product cost category, or select expense. Cost Classification Category Description Coconut fiakes used in the cookies. Depreciation on the ovens Insurance on the computers used in the accounting office. Wages for the bakery security guard. Salaries of the bakers who make the cookies. Electricity for the bakery Heating for the corporate headquarters. Freight for shipping the cookies to customers. Salary of the baking supervisor 1) a. Classify the cost as either product or period
b. Classify the product costs as direct materials, direct labor, or manufacturing overhead or period cost.
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