ACCT 346 Week 1 Homework (graded) | DownloadTo Score An A

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DeVry University ACCT346 Weekly Assignment Week 1 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 Directions: Your assignment this week is to answer the four questions below. Please note that Question 4 contains multiple parts. Please show your work for full credit on Questions 4b - 4e. 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 .......................................................... f. Machine operators’ health insurance ....................................................... g. Airplane seats ........................................................................................... h. Depreciation on administrative offices ..................................................... i. Assembly workers’ wages ......................................................................... j. Plant utilities ............................................................................................. k. Production supervisors’ salaries ................................................................ l. Jet engines ................................................................................................ m. Machine lubricants .................................................................................... Then, answer the below questions: 4b. How much are total manufacturing overhead costs? (5 points) 4c. How much are total inventoriable product costs? (5 points) 4d. How much are total prime costs? (5 points) 4e. How much are total conversion costs? (5 points) [Show More]

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