Construction Accounting And Financial Management (4th Edition)
4th Edition
ISBN: 9780135232873
Author: Steven J. Peterson MBA PE
Publisher: PEARSON
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Chapter 6, Problem 16P
Determine the general
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Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification and explanation of these costs. Write NA if not applicable.
Costs
Manufacturing (M) or Non-Manufacturing (NM)
Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH)
General and Administrative (GA) or Marketing and Selling (MS)
j. Salaries of plant supervisor
k. Interest on bank loan
l. Property tax on the production plant
Which of the following is not a period cost?
Group of answer choices
Sales commissions.
Public relations costs.
The salary of a company's chief financial officer (CFO).
Legal costs.
Wages of assembly-line workers.
The salary paid to the president of a company would be classified on the income statement as a(n):
Multiple Choice
direct labor cost.
O selling expense.
administrative expense.
manufacturing overhead cost.
Chapter 6 Solutions
Construction Accounting And Financial Management (4th Edition)
Ch. 6 - When calculating a ratio with numbers from the...Ch. 6 - How does the method of depreciation affect...Ch. 6 - How does retention affect the financial ratios?...Ch. 6 - Prob. 4PCh. 6 - Prob. 5PCh. 6 - Determine the current liabilities to net worth...Ch. 6 - Determine the debt to equity ratio for the...Ch. 6 - Prob. 8PCh. 6 - Determine the current assets to total assets ratio...Ch. 6 - Prob. 10P
Ch. 6 - Determine the average age of accounts payable and...Ch. 6 - Determine the assets to revenues ratio for the...Ch. 6 - Prob. 13PCh. 6 - Prob. 14PCh. 6 - Determine the gross profit margin for the...Ch. 6 - Determine the general overhead ratio for the...Ch. 6 - Prob. 17PCh. 6 - Prob. 18PCh. 6 - Determine the pretax return on equity and...Ch. 6 - Determine the degree of fixed asset newness for...Ch. 6 - Prob. 21PCh. 6 - Prob. 22PCh. 6 - Prob. 23PCh. 6 - Prob. 24PCh. 6 - Prob. 25PCh. 6 - Prob. 26PCh. 6 - Prob. 27PCh. 6 - Determine the average age of accounts payable and...Ch. 6 - Prob. 29PCh. 6 - Prob. 30PCh. 6 - Determine the accounts payable to revenues ratio...Ch. 6 - Determine the gross profit margin for the...Ch. 6 - Determine the general overhead ratio for the...Ch. 6 - Prob. 34PCh. 6 - Determine the pretax return on assets and...Ch. 6 - Determine the pretax return on equity and...Ch. 6 - Prob. 37PCh. 6 - Determine the months in backlog using the work on...Ch. 6 - Determine the months in backlog using the work on...Ch. 6 - The construction company in Figures 2-2 and 2-3...Ch. 6 - Prob. 43CP
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- How can I get the total direct labor hours and costs for a business?arrow_forwardThe activity base for service industries is most likely to be _________________. A. machine hours B. administrative salaries C. direct labor cost D. direct labor hoursarrow_forwardIn the context of a real-life company, an identification and discussion of the different types of costsassociated with its operations ?arrow_forward
- Which of the following is a product cost? A) Sales commissions B) CEO's salary C) Delivery van depreciation D) Depreciation on production equipmentarrow_forwardDetermine whether each of the following costs should be classified as product costs or period costs. Depreciation on office equipment. Salary to painting supervisor. Wages paid to production workers. Insurance on office equipment and machinery. Materials purchased.arrow_forwardWhich income statement is most appropriate for a manufacturing businessarrow_forward
- Below is a table showing the various costs incurred by various companies. In each column, indicate the proper classification of these costs. Write NA if not applicable. Cost Manufacturing/Product (M) or Non-Manufacturing/Period (NM) Direct Materials (DM), Direct Labor (DL) or Factory Overhead (FOH) General and Administrative (GA) or Marketing and Selling (MS) m. Commissions paid to sales personnel n. Salaries of the executive staff o. Car leases for sales agents p. Electricity to run machineries in a lumber yard q. Food for company banquet r. Sugar in a bakeshoparrow_forwardIdentify whether the following items should be included in Direct Materials (DM), Direct Labor (DL), Manufacturing Overhead (MO) or Period Costs (PC) (a) Assembly line wages (b) Raw materials used directly in product (c) Depreciation on office equipment (d) Property taxes on factory building (e) Rent on factory building (f) Sales commissions (g) Depreciation on factory equipment (h) Factory utilities (i) Wages for factory maintenance workers 0) Advertising (k) Indirect materials used in production (1) Factory manager's salaryarrow_forwardHow would sales salaries be classified for a manufacturing company? Group of answer choices product cost - administrative overhead product cost - factory overhead period cost - administrative expense period cost - selling expensearrow_forward
- A manufacturing company reports cost of goods manufactured as a(n) current asset on the balance sheet. component of the raw materials inventory on the balance sheet. administrative expense on the income statement. component in the calculation of cost of goods sold on the income statementarrow_forwardHow do you prepare an income statement/calculate the operating income in managerial accounting?arrow_forwardFor 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 equipmentarrow_forward
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