The property tax on the building that houses the manufacturing facility ofa company is: *A period costAn opportunity costA product costA variable cost

Introduction: Product cost: The cost incurred for creation of a product called as product cost.…

Answered: The property tax on the building that…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 3EA: Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the...

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Please solve this MCQs How would property taxes paid on a factory building be classified in a manufacturing company? Variable, period cost. Fixed, product cost. Fixed, period cost. Variable, product cost.
1. Property taxes on a manufacturing plant is an element of: a. Conversion cost b. Prime cost c. Period cost d. Fixed cost 2. Factory supplies for manufacturing plant are generally a. Prime cost b. Fixed cost c. Period cost d. Variable cost 3. Wages paid to timekeeper in a factory is a a. Prime cost b. Direct Material c. Conversion cost d. Direct labor
Which of the following costs at a manufacturing company would be treated as a product cost under variable costing? Multiple Choice direct material cost property taxes on the factory building sales manager's salary sales commissions
An example of an uncontrollable cost would include all of the following except______. A. real estate taxes charged by the county in which the business operates B. per-gallon cost of fuel for the companys delivery trucks C. hourly rate of pay for the companys purchasing manager D. federal income tax rate paid by the company
How would each of the following costs be classified if units produced is the activity base? a. Salary of factory supervisor ($120,000 per year) b. Straight-line depreciation of plant and equipment c. Property rent of $11,500 per month on plant and equipment
Which of the following costs is most likely to be classifled as a fixed cost? Multiple Cholce Direct materials Sales commissions Direct labor Property taxes Shipping costs
Which one of the following is an example of a period cost? Maintenance on factory machines O Wages of factory workers O Property Tax on Factory O Property tax on Adm. Building
For questions 5-6, please classify the costs of each of the following as variable, fixed, mixed, or step. Sales volume is the cost driver. 5. Real estate taxes A) Variable В) Fixed C) Mixed D) Step Your answer is Explain your answer: 6. Electric power in a factory A) Variable B) Fixed с) Mixed D) Step Your answer is Explain your answer:
Which of the following is a period cost? a. Property taxes on the production facilities. b. The production supervisor's salary. c. Costs to ship the product to the customer. d. Depreciation of the factory equipment.
a. Road Warrior Motor is a company that manufactures and sells cars. Indicate whether each of the following should be considered a product cost or a period cost for the company. If you identify the item as a product cost, also indicate whether it is a direct material cost, direct labor cost, or overhead cost. Write “1” under the correct answer. For example, the answer to item 0 is “product cost” and “overhead cost.” 0. Property taxes on factory building. 1. Cost of buying the metal needed to manufacture cars. 2. Depreciation on the furniture used in the sales showroom. 3. Cost of electricity used in the factories. 4. Salaries of factory workers who manufacture cars. 5. Salaries of factory security guards. 6. Salaries of office workers in the financial department. 7. Depreciation on the warehouse used to store raw materials. 8. Income taxes paid to the government. b. The company manufactured 100 cars in January 2023 and has not sold any of them by the end of January. If the company…
Burnham Industries incurs these costs for the month: A. What Is the prime cost? B. What is the conversion cost?
Which of the following is unlikely to be classified as a fixed cost with respect to the number of units produced and sold? a Property taves on a headquarters building b. Legal department salaries C. Cost of leasing the company's mainframe computer d. Production supplies

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The property tax on the building that houses the manufacturing facility of a company is: * A period cost An opportunity cost A product cost O A variable cost