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The costs that follow were extracted from the accounting records of various different manufacturers:
1. Weekly wages of an equipment maintenance worker 2. Marketing costs of a soft drink bottler 3. Cost of sheet metal in a Honda automobile 4. Cost of president's subscription to Fortune magazine 5. Monthly operating costs of pollution control equipment used in a steel mill 6. Weekly wages of a seamstress employed by a jeans maker 7. Cost of compact discs (CDs) for newly recorded releases of Rush, Billy Joel, and Bryan Adams
a. Determine which of these costs are product costs and which are period costs.
b. For the product costs only, determine those that are easily traced to the finished product and those that are not.
Baseball Products manufactures a single product with the following full unit costs at a volume of 2,000 units: Direct materials $ 900 Direct labor 360 Manufacturing overhead* 6
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During 2014, Victoria’s Fashion had beginning inventory of $480,000, ending inventory of $560,000, and cost of goods sold of $2,200,000. Compute the inventory turnover and days’ in
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