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Which costing system would be most appropriate for zzz socks

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Reference no: EM132500982

Just arrived at the Sydney International Airport is a new vending machine that dispenses travel socks. This is a vending machine from ZZZ Socks Ltd. The socks have patterns on them such as the Australian flag, koalas, kangaroos, there are regular socks and flight-compression socks. The airport traveller can purchase the socks by using a credit card, the person chooses the socks they want to buy using a keypad, and the socks are then dispensed out into a tray at the bottom of the machine. ZZZ Socks Ltd also sells its socks through retailers, in its own retail stores around Australia, via vending machines, and also through a monthly subscription service.

Question 1: What costs would ZZZ Socks Ltd incur related to its sock vending machine located at the Sydney International airport? Assume that ZZZ Socks Ltd rents the vending machine from a vending service on a 12 monthly basis. list as many costs as you can.

Question 2: Now classify each of the costs you listed for part (a) as direct or indirect, assuming that the vending machine is the cost object.

Question 3: Which costing system would be most appropriate for ZZZ Socks Ltd: Job costing or Process costing. Provide a reason for your choice of costing system.

Reference no: EM132500982

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