Management accounting (ACCO 504)

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CLASSIFICATION OF COSTS The following are some of the costs incurred by a company. Identify them as either: a. Direct Materials b. Direct Labor c. Factory Overhead d. Non Manufacturing cost 1. salary paid to nursing staff in a hospital emergency room 2. rent expense on factory building 3. utilities incurred in the office 4. cost of plastic for a toy manufacturer 5 insurance expense on factory equipment 6. depreciation on office equipment 7. wages paid to employees that assemble the airplane 8. depreciation of factory equipment 9. wages of assembly line personnel 10. fabric for making shirts 11. office supplies expense 12. paper used for bath tissue production 13. utilities incurred in the factory building 14. factory supplies used CLASSIFICATION OF COSTS The following are some of the costs incurred by a company. Identify them as either: a. Prime costs b. Conversion costs C. Both prime and conversion costs d. Neither prime or conversion costs 15. depreciation on factory building 16. wages of assembly line personnel 17. utilities incurred in the factory building 18. paper used for bath tissue production 19. fabric for making shirts 20. rent expense on factory building 21. cost of plastic for a toy manufacturer 22. insurance expense on factory equipment 23. factory supplies used 24. wages paid to employees that assemble the airplane 25. salary paid to nursing staff in a hospital emergency room 26. utilities incurred in the office 27. office supplies expense 28. depreciation on office equipmentCLASSIFICATION OF COSTS Classify the following costs as either: a. Product cost b. Period cost 29. direct labor incurred 30. depreciation on store equipment 31. indirect labor incurred 32. direct materials used 33. depreciation on office equipment 34. office equipment repairs and maintenance 35. depreciation on factory machinery 36. delivery expense 37. utilities incurred in the office building 38. advertising expense 39. utilities incurred in the factory building 40. salary of plant manager 41. salespersons' commissions 42. indirect materials used Pareo de conceptos 1. Credito a la cuenta de A Incluye "direct materials", "direct labor" y inventario de materiales "factory overhead" 2. Credito a Factory Overhead B Costos de factory overhead aplicados 3. Conversion Costs C Salario de un supervisor del area de control de calidad 4. Product costs D Incluyen selling y administrative expenses 5. Contabilidad financiera E Se rige exclusivamente por los GAAP 6. Se incluyen en la cuenta de F Incluye "direct materials" y "direct labor" Factory Overhead 7. Debito a Work in Process G Costos de factory overhead incurridos 8. Contabilidad gerencial H Se dirige a usuarios internos (gerencia de la empresa) 9. Cost object I Incluye "direct labor" y "factory overhead" 10. Period costs J Puede incluir un producto, un territorio de ventas, un departamento u otra actividad 11, Debito a Factory Overhead K Labor indirecta y materiales indirectos 12. Ejemplo de un costo clasificado L Requisition de materiales como factory overhead 13. Prime Costs M Se incurren en la empresa para generar ingresos 14. Costos N Incluye costos de materiales directos, labor directa y factory overhead aplicado