Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Listed below are costs found in various organizations. Required: For each cost item, indicate whether it would be variable or fixed with respect to the

image text in transcribed
image text in transcribed
Listed below are costs found in various organizations. Required: For each cost item, indicate whether it would be variable or fixed with respect to the number of units produced and sold; and then whether it would be a selling cost, an administrative cost, or a manufacturing cost. If it is a manufacturing cost, indicate whether it is a direct cost or an indirect cost with respect to units of product. Cost Hom Solling Cost Administrative Cost Manufacturing (Product) Cost Direct Indirect Variable or Fixed Variable Fored Fixed Yos Yes Yes Ex. Direct labor Executive salaries Factory rent 1. Property taxes, factory 2. Boxes used for packaging detergent produced by the company 3. Selespersons commissions 4. Supervisor's salary, factory, 5. Depreciation, executive autos 6. Wages of workers assembling computers 7. Insurance, finished goods warehouses 8. Lubricants for production equipment 9. Advertising costs 10. Mcrochies used in producing calculators 11. Shipping costs on merchandise sold 12 Magazine subscriptions, factory lunchroom Manufacturing (Product) Cost Cost Item Selling Cost Administrative Cost Direct Indirect Variable or Fixed Variable Foxed Fored Yes Yes Yos Ex Direct labor Executive salarios Factory rent 1. Property taxes, factory 2. Boxes used for packaging detergent produced by the company 3. Salespersons commissions 4. Supervisor's salary, factory 5. Depreciation executive autos 6. Wages of workers assembling computers 7. Insurance, finished goods warehouses 8. Lubricants for production equipment 9. Advertising costs 10. Microchies used in producing calculator 11. Shipping costs on merchandise sold 12 Magazine subscriptions, factory lunchroom 13. Thread in a garment factory 14 Executive life insurance 15 ink uted in textbook production 18. Fringe benefits, materials handling workers. 17 Yam used in sweater production 18. Wages of receptionist, executive offices

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_2

Step: 3

blur-text-image_3

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

Financial Accounting

Authors: C. William Thomas, Wendy M Tietz

13th Edition

013689903X, 9780136899037

More Books

Students also viewed these Accounting questions