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Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numb and shapes. Suzie's
Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numb and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company 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 Sales commissions. Factory insurance. $ 3,020 1,110 31,600 2,110 595 880 3,650 170. 5,160 4,040 225 1,260. 1,000 2,150 8,150 Depreciation on cutting machines Wages paid to painters 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 on fixed cost 3. Determine the total cost for each of the following: Complete this question by entering your answers in the tabs below. Req 1 and 21 Req 3 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.) Factory rent Costs Company advertising Type of cost Product Period: Cost head MOH Cost classification Fixed NA Prov 222 Costs Type of cost Cost head Cost classification Factory rent Company advertising Product MOH Fixed Period NA Wages paid to assembly workers Product DL Depreciation for salespersons' vehicles Period NA Screws Product MOH Utilities for factory Product MOH Assembly supervisor's salary Product MOH Sandpaper Product MOH President's salary Period NA Plastic tubing Product DM Paint Product MOH Sales commissions Period NA Factory insurance Product MOH Depreciation on cutting machines Product MOH Wages paid to painters Product DL Req 1 and 2 Req 3 > References Req 1 and 2 Req 3 Determine the total cost for each of the following: a Direct Materials b Direct Labor C Manufacturing Overhead d. Prime Cost e. Conversion Cost Total Product Cost 9 Total Period Cost h Total Variable Cost Total Fixed Cost
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