Cost Classification-manufacturing,merchandising,service
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The following are costs associated with manufacturing firms, merchandising firms, or service firms:
a. Miscellaneous materials used in production
b. Salesperson's commission in a real estate firm
c. Administrator's salaries for a furniture wholesaler
d. Administrator's salaries for a furniture manufacturer
e. freight costs associated with acquiring inventories for a grocery store
f. Office manager's salary in a doctor's office
g. Utilities for the corporate offices of a toy manufacturer
h. Line supervisor's salary for a clothing manufacturing firm
i. Training seminar for sales staff of a service firm
j. Fuel used in a trucking firm
k. Paper used at a printing business
l. Oil for a machinery at a plastics manufacturing firm
m. Food used at a restaurant
n. Windshields used for a car manufacturer
Classify the costs as (1) product or period; (2)variable or fixed; and (3) for those that are product costs, as direct materials, direct labor, or manufacturing overhead. Write 'not applicable (N/A)' if a category doesn't apply.
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Solution Summary
This solution is comprised of classifying the costs as (1) product or period; (2)variable or fixed; and (3) for those that are product costs, as direct materials, direct labor, or manufacturing overhead for manufacturing firms, merchandising firms, or service firms.
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Cost Classification
The following are costs associated with manufacturing firms, merchandising firms, or service firms:
a. Miscellaneous materials used in production
b. Salesperson's commission in a real estate firm
c. Administrator's salaries for a furniture wholesaler
d. Administrator's salaries for a furniture manufacturer
e. Freight costs associated with acquiring inventories for a grocery store
f. Office manager's salary in a doctor's office
g. Utilities for the corporate offices of a toy manufacturer
h. Line supervisor's salary ...
Purchase this Solution
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