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Classification of cost in to variable, fixed, period, product, direct and indirect.
The following are costs associated with manufacturing firms, merchandising firms, or service firms:
1. Miscellaneous materials used in production 2. Salesperson's commission in a real estate firm 3. Administrators' salaries for a furniture wholesaler 4. Administrators' salaries for a furniture manufacturer 5. Freight costs associated with acquiring inventories for a grocery store 6. Office manager's salary in a doctor's office 7. Utilities for the corporate offices of a toy manufacturer 8. Line supervisor's salary for a clothing manufacturing firm 9. Training seminar for sales staff of a service firm 10. Fuel used in a trucking firm 11. Paper used at a printing business 12. Oil for machinery at a plastics manufacturing firm 13. Food used at a restaurant 14. 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.
Explain the numerous business entities that Mercer Mechanics could have formed to conduct business. Debate the strategic considerations involved in each choice of entity. What are the compensations and drawbacks of each
Classification of items - Classify each of the above accounts as an asset (A), liability (L), stockholders' equity (SE), revenue (R), or expense (E) item.
Evaluate for each plan the earnings per share of common stock, assuming that the income before bond interest and income tax is $2,000,000.
Provide recommendations and justifications of which depreciation method(s) are appropriate in this case. Explain how the choice of depreciation method affects reported profits.
In Moore Company's flexible budget graph, the fixed cost line and the total budgeted cost line intersect the vertical axis at $90,150. The total budgeted cost line is $392,550 at an activity level of 60,480 direct labor hours. Compute total budget..
Using the high-low method, determine an estimate of total maintenance cost for a month in which production is expected to be 45,000 units.
Illustrate what is the factory overhead rate for Factory 1 (dollar amount per machine hr), Factory 2 (dollar amount per direct labor hr),balances of the factory accounts for each factory as of November 30.
It purchased goods for $380,000 and had beginning inventory of $70,000. A count of its ending inventory determined that goods on hand was $50,000. Illustrate what was its cost of goods sold?
What are the major risk factors and as the controller and a management accountant, what is your responsibility to this project?
Adjusted current earnings: $10,000, 17,000, 5,000. Find what are the ACE adjustments for each of the three years?
Panther co. had a warranty liability of $350,000 at the beginning of 2011, and $310,000 at the end of 2011. Warranty expense is based on 4% of sales, which were $50 million for the year. What were the warranty expenditures for 2011?
the account balance was transferred to a bank paying 10%, and annual deposits of $6,000 were made at the end of each year from the seventh through the tenth years. What was account balance at the end of the tenth year?
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