Fontanez Week 1 Assignment

Topics: Costs, Variable cost, Cost Pages: 4 (477 words) Published: August 3, 2015
DeVry University
ACCT346 Weekly Assignment
Week 1

Directions: Your assignment this week is to answer the four questions below. Please note that Question 4 contains multiple

1. Identify whether each of the items below is a Product Cost or Period Cost: (1/2 point each, total 5 points) Factory insurance
Interest on bank loan
Eggs, salt, water used for baking
Depreciation on bake ovens
Paper wrappers for bread
Delivery truck costs
Advertising costs
Factory supervisor salaries
Sales Commissions
Flour used in baking bread
2. Identify whether each of the items below is a Direct Cost or Indirect Cost: (1/2 point each, total 5 points) Factory insurance
Baker's wages
Eggs used for baking
Depreciation on bake ovens
Paper wrappers for bread
Cleaning materials for bake ovens
Utilities used in factory
Factory supervisor salaries
Small amount of salt used
Flour used in baking bread
3. Identify whether each of the below is a Fixed Cost or Variable Cost: (1/2 point each, total 5 points) Shipping costs for bread
Cost of fuel for delivery truck
Factory rent
Factory insurance
Maintenance on delivery truck
Sales commissions
Hourly wages paid to baker's assistant
Oven depreciation
Cost of fruit for cake topping
Factory utilities

4. Classify each as direct material, direct labor, indirect labor, indirect labor, other manufacturing overhead or period cost, and then answer the 5 questions below:

An airline manufacturer incurred the following costs last month (in thousands of dollars): a. Depreciation on forklifts ........................................................................... b. Property tax on corporate marketing office ............................................. c. Cost of warranty repairs ............................................................................ d. Factory janitors’ wages ............................................................................. e. Cost of designing new plant layout...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Fontanez Week 2 Assignment Essay
  • Assignment 1 Becoming an effective Leader Essay
  • Week 1 Assignment 1 Essay
  • Assignment 1 Week 1 Research Paper
  • ENG 220 Assignment Week 1 Essay
  • Week 1 Assignment LEG500 Essay
  • LAW421 Week 1 Assignment Essay
  • Week 1 Assignment Essay

Become a StudyMode Member

Sign Up - It's Free