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Identify the following costs as direct materials, direct labor, or factory overhead for a lawn mower
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- 1 For a manufacturing company, which of the following is an example of a period cost rather thana product cost? a. Depreciation on factory equipment b. Wages of salespersons c. Wages of machine operators d. Insurance on factory equipmentFor a manufacturing company, which of the following is an example of a period cost rather than a product cost? a. Depreciation on factory equipment b. Advertising expense c. Wages of machine operators d. Insurance on factory equipmentQuestion#1 1. Identify whether each of the following is classified as a product cost or a period cost.______________ 1. Direct labor______________ 2. Direct materials______________ 3. Factory utilities______________ 4. Repairs to office equipment______________ 5. Property taxes on factory building______________ 6. Sales salaries Question#2 Indicate whether each of the following costs of a pencil manufacturer would be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO).a. ____ Depreciation of pencil painting machineryb. ____ Lead inserted into pencilsc. ____ Factory utilitiesd. ____ Wages of assembly line workere. ____ Salary of supervisorf. ____ Factory machinery maintenanceg. ____ Woodh. ____ Eraser compound Question#3 Raynor Company has the following data:Direct labor $76,000Direct materials used 84,000Total manufacturing overhead 65,000Ending work in process 30,000Beginning work in process 45,000InstructionsCompute (a) total manufacturing costs…
- (b) Classify whether the items below refer to direct material cost (DM), direct labour cost (DL), or production overhead cost (POH). (i) (ii) (iii) (iv) Wages of production line workers. Maintenance of machineries. Purchase of direct materials. Purchase of loose tools. (v) (vi) (vii) Wages of factory supervisor. (viii) Depreciation on plant. (ix) Lubricating oil for machine. Hire of special machine. (x) Freight charges on direct materials. Factory light and power.Which of the following accounts would be a period cost rather than a product cost? a Freight out. b Depreciation on manufacturing machinery. c Maintenance on factory machines. d Production manager's salary.Which of the following accounts would be a period cost rather than a product cost? Freight out. Maintenance on factory machines. Production manager's salary. Depreciation on manufacturing machinery.
- Transport charges paid on purchase of machinery is classified as? a. Factory overheads Ob. Non cost item Oc. Office overheads Od. Direct expenseWhich one of the following is an example of a period cost? Maintenance on factory machines O Wages of factory workers O Property Tax on Factory O Property tax on Adm. BuildingTrak Corporation incurred the following costs while manufacturing its bicycles. Bicycle components Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $100,000 60,000 7,500 110,000 13,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000
- Which of the following is part of factory overhead cost? a.depreciation of sales person's vehicle b.sales commissions c.depreciation of factory equipment and machines d.direct materials usedThe following is part of Production Overheads a. Office Salary b. Depreciation of Office AC c. Depreciation of Machine d. Salesman SalaryDetermine whether each of the following costs should be classified as product costs or period costs. (i) Frames and tires used in manufacturing bicycles.(ii) Wages paid to production workers.(iii) Insurance on factory equipment and machinery.(iv) Depreciation on office equipment.(v) Salary to painting supervisor