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To classify Costs associated with manufacturing firms, merchandising firms or service firms as (1)product or period costs; (2) Variable or fixed costs and (3) further classifying product costs into direct materials, direct labor, manufacturing overhead.
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.
Examine the strengths and weaknesses of the Form 10-K information and disclosures in terms of whether they give relevant and reliable information to investors.
Purpose a budgeted income statement for 2009 and Should mega change the selling price?
Determine how reasonable it is to consider that the inflow of foreign investment into Australia would have been restricted if Australia, throughout the decision of the Financial Reporting Council, had not made the decision to adopt IFRS from 2005.
Is variable costing appropriate in a capital-intensive environment where robotic equipment performs most of the conversion of raw materials to a final product such as in a BMW plant?
describe and explain the contrasts between the demographic characteristics of the core and periphery of the global system?
What is Miguel's taxable income? How much gross income is recognized by each beneficiary?
Analyze the financial statements and assess whether the financial performance has improved or declined year-over-year.
The following special journal is taken from a merchandising company that uses the perpetual inventory system: What is the name of the journal shown above?
calculation of full charges variable costs market price amp negotiated price to be treated as transfer price.one year
A taxpayer suffers a casualty loss on personal use property for which he has insurance coverage. However, to avoid a premium adjustment, the taxpayer fails to make a timely claim. In this situation is the full deduction for the casualty, after th..
Effect of different type of lease transaction in balance sheet and Make any necessary simplifying assumptions as we did in class.
classify and report the cash flow operations.for each of the following items indicate whether it would be classified
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