For the following thirteen (13) items, place an "X" in the appropriate column to indicate whether...

For the following thirteen (13) items, place an "X" in the appropriate column to indicate whether the cost is a product cost (specify which type of product cost: direct materials, direct labor or manufacturing overhead) or period cost and then whether the cost is Variable or Fixed. (Hint: each line should have two "X"s)

		Product Cost			Period Cost	Variable or Fixed
		Direct Materials	Direct Labor	Manufacturing Overhead	Period Cost	Variable	Fixed
1	Advertising
2	Assembly department employee wages
3	CEO's salary
4	Cost of shipping goods to customers
5	Depreciation on assembly plant
6	Depreciation on executive building
7	Factory maintenance supplies
8	Glass used in automobiles
9	Plant manager's salary
10	Property taxes on assembly plant
11	Salary of marketing executive
12	Steel used in automobiles
13	Tires installed on automobiles

Expert Solution

1	Advertising	Period Cost		Variable
2	Assembly department employee wages	Product Cost	Direct Labor	Variable
3	CEO's salary	Period Cost		Fixed
4	Cost of shipping goods to customers	Period Cost		Variable
5	Depreciation on assembly plant	Product Cost	Manufacturing Overhead	Fixed
6	Depreciation on executive building	Period Cost		Fixed
7	Factory maintenance supplies	Product Cost	Manufacturing Overhead	Variable
8	Glass used in automobiles	Product Cost	Direct Materials	Variable
9	Plant manager's salary	Product Cost	Manufacturing Overhead	Fixed
10	Property taxes on assembly plant	Product Cost	Manufacturing Overhead	Fixed
11	Salary of marketing executive	Period Cost		Fixed
12	Steel used in automobiles	Product Cost		Variable
13	Tires installed on automobiles	Product Cost	Direct Materials	Variable

ekkarill92 answered 3 years ago

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