Your friend, Suzie Chang, has designed a new type of outdoor toy that helps children learn...
Fantastic news! We've Found the answer you've been seeking!
Question:
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66559d5423d6d_86866559d541bd71.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66559d54b5b5e_86866559d54a544c.jpg)
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/05/66559d552c8d7_86966559d552518a.jpg)
Transcribed Image Text:
Your friend, Suzie Chang, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow. Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint $ 3,090 1,090 30,800 2,170 535 860 3,620 160 5,020 4,060 Sales commissions Factory insurance Depreciation on cutting machines 255 1,360 1,060 2,160 8,400 Wages paid to painters Assume that Suzie Chang has decided to begin production of her outdoor children's toy Required: 1 & 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost. Assumes that screws, sandpaper, and paint are not worth the effort to trace to specific units. 3. Determine the total cost for each of the following: Your friend, Suzie Chang, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow. Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint $ 3,090 1,090 30,800 2,170 535 860 3,620 160 5,020 4,060 Sales commissions Factory insurance Depreciation on cutting machines 255 1,360 1,060 2,160 8,400 Wages paid to painters Assume that Suzie Chang has decided to begin production of her outdoor children's toy Required: 1 & 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost. Assumes that screws, sandpaper, and paint are not worth the effort to trace to specific units. 3. Determine the total cost for each of the following:
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
What is LIBOR? Why is it important?
-
Which of the following is not one of Porters five forces? a. Bargaining power of buyers b. Threat of substitute products c. Threat of new entrants d. All of the above are part of Porters five forces.
-
Assess the performance of a business using non-financial as well as financial measures
-
Financial statements for Pad Corporation and its 75 percent-owned subsidiary, Sum Corporation, for 2011 are summarized as follows (in thousands): Pad acquired its interest in Sum at book value during...
-
This assignment must be completed in either MS Excel or in with a MS Word table Budget Case Problem Meadow Lake Elementary will receive 600 additional students next fiscal year. This increase in...
-
Hash collisions occur when more than one item is mapped to the same element in Hash Table's array. What is one way that a Hash Table can handle collisions?
-
Transcribed image text: D Question 25 1.5 pts On June 1, 2020, Seventy company acquired the 30% of Sev-en corporation's outstanding ordinary shares for P200,000. As of the end of 2020, the fair value...
-
Describes a political community with clearly defined geographical borders and a shared culture?
-
1 The Economic Espionage Act of 1996 made what practice illegal?
-
Identify issues of Ethics or Corporate Social Responsibility that could impact organizational operations. What is an Impact of product or service or employment plan
-
what are the social issues faced by the imperial oil company? Do not include any other aspects like environmental, ethical, or climatic.
-
What would be some financial, political and social barriers that a nurse manager may encounter when proposing a team based approach to retain new grad rn's and what are some effective ways to address...
-
The executive team at The Rapid Cash Store is unable to find creative solutions for the problem of finding new business avenues. If you are a member of the executive team, what steps would you take to
-
Explain how the liberal model differs from both the conventional model and the human fulfillment model. What values is it committed to? What is the connection between the liberal model and the idea...
-
Do you agree with Ka~ Marx that workers in a capitalist system will Inevitably be alienated? Explain why or why not Did Marx agree with the conventional view of work? Did Pope John Paul II?
-
In your view, which model of the nature and meaning of work is best? Why? Given their behavior, which model do you think most people accept?
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App