Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's

image text in transcribed
image text in transcribed
image text in transcribed
Your friend, Suzie Whitson, 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 Jolly Jot and costs for last month follow Factory rent Company advertising Wages paid to assembly workers Depreciation for Salespersons' vehicles Sures VLLLLLies for factory Assembly supervisor's salary Sarpapier Pressary Platie tubing PALME Salons Factory Insura Calon asutting chi was paid to painters $3,020 1.110 30,400 2,200 585 870 3.540 140 5.110 4.110 28 1.25 1.30 2149 . Assume that Suzie Whitson has decided to begin production of her outdoor children's toy Regulred: 1 and 2. loentiv each of the preceding costs as either a product or a period cost if the cost is a product cost decine whether is for direct mater 33 DM Grect isbor OL or manufacturing overhead MOH and also identify each of the recoding costs as variable or fixed COSE 3. Determine the total cost for each of the following: Reg 1 and 2 Req3 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. (Select "NA" wherever necessary.) Type of cost Cost head Cost dassification Costs 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 Pant Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters Reg 3 > Assume that Suzie Whitson has decided to begin production of her outdoor children's toy. Required: 1 and 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 3. Determine the total cost for each of the following: Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Determine the total cost for each of the following: 13. b ol e Direct Materials Direct Labor Manufacturing Overhead Prime Cost Conversion Cost Total Product Cos: Total Period Cost Total Vanable Cost Total Fixed Cost f D th

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

Step: 3

blur-text-image

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

The Payroll Audit

Authors: Robert Leach

1st Edition

0955970792, 978-0955970795

More Books

Students also viewed these Accounting questions