Product or period cost and direct or indirect cost

Assignment Help Financial Accounting
Reference no: EM13746431

For each item shown below, indicate whether it is a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit of finished product. Product or Period Cost? Direct or Indirect Cost? Cost Item Product Period Direct Indirect Administrative salaries Direct labor Advertising Property tax on the factory Factory maintenance Direct materials Depreciation on factory equipment Interest expense Factory supplies

Reference no: EM13746431

Questions Cloud

Financial statement accuracy : "Financial Statement Accuracy" Identify the key steps in the closing process that provide the most opportunity to make mistakes in processing account transactions. Make atleast (2) recommendations for improving the accuracy and reliability of the inf..
Discuss the ethical dilemma faced by jim fielding : Horizon Corporation manufactures personal computers. The company began operations in 2002 and reported profits for the years 2004 through 2009. Due primarily to increased competition and price slashing in the industry, 2010's income statement reporte..
Support capital budgeting decisions : In your initial post, identify and recommend at least 1 credible Web site that discusses the process of calculating the models most commonly used to support capital budgeting decisions, and address at least 3 of the following topics:
Stockholders equity section : On April 21, 2014, Alligator Corporation received a charter granting the right to issue 100,000 shares of $100 par value, 6% cumulative and nonparticipating preferred stock, and 1,000,000 shares of $1 par value common stock. It then Apr. 28 Issued 10..
Product or period cost and direct or indirect cost : For each item shown below, indicate whether it is a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit o..
Exponential smoothing to forecast equipment : A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecast to be 88 percent of capacity; actual usage was 89.6 percent of capacity. A smoothing constant (Alpha) of .2 is used.
Discuss the changing role of women in the family : Discuss the changing role of women in the family. In what ways did the role of women in society change during this period? Did the role of women in the family change at all? If so, how?
Question regarding the edelman engineering : Edelman Engineering is considering including two pieces of equipment, a truck and an overhead pulley system, in this year's capital budget.
Uses a job order cost accounting system : FACTS: Samer Corp. uses a job order cost accounting system. The following is selected information pertaining to costs applied to jobs during the year. Jobs still in process at the end of the year: $167,000, which includes $65,000 direct labor costs. ..

Reviews

Write a Review

Financial Accounting Questions & Answers

  Accounting for changes and error corrections pack companys

accounting for changes and error corrections pack companys net incomes for the past three years are presented

  Budgets for the months of october and november

Participation in the budgeting process is often hailed as a motivator for improved performance outcomes, however, some authors have suggested that forced participation may fail to empower or motivate employees and may even result in a diminution i..

  Accounting treatment for errors and corrections

Accounting treatment for errors and corrections - Income Statement and the stockholder's equity section of the Balance Sheet using the symbol (O/S) for overstated, (U/S) for understated, and (N/E) for no effect.

  Illustrate what are the adjusting journal entries

The new patent will protect the value of the old one only for a 4 year period. Illustrate what are the adjusting journal entries

  Identify general business tax credit

Identify General Business tax credit and discuss its current treatment. Then, argue whether or not it should be allowed as a credit.

  Preparing the bank reconciliation statementprepare bank

preparing the bank reconciliation statement.prepare bank reconciliation as of 31 oct from the followinga the oct 31

  This project should be completed using excel with formulas

this project should be completed using excel with formulas and linked data. the parameters of the project are below1.

  What is the market value of the npvgo

Looking on yahoo finance I observe a PE ratio of 15. I believe the correct discount rate is 10 percent. What is the market value of the NPVGO?

  Calculation of missing information used in accounts

calculation of missing information used in accounts equation.1. at the beginning of the year new wave companys

  Illustrate what standards apply

Write a 700- to 1,050-word paper explaining economic issues that bring concern to pricing your services and products. What ethical challenges will you face in hiring non-CPAs? Illustrate what standards apply?

  Method for nonresidential property

So as to repair the garage after the fire Mr. Warden spent $7,795. The repairs are deliberated to be an improvement to the property, which before the casualty, was being denigrated under the MARCS method for nonresidential property. The total of d..

  Illustrate what is the total recorded cost of the automatic

The cost of repairing the component is $2,250. Illustrate what is the total recorded cost of the automatic score keeping equipment?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd