Charles has provided some of the costs he expects to incur as follows. Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake.
Charles has provided some of the costs he expects to incur as follows. Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake.
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter6: Process Cost Accounting—additional Procedures; Accounting For Joint Products And By-products
Section: Chapter Questions
Problem 13Q: What advantage does the FIFO cost method have over the average cost method relative to providing...
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Question
Charles has provided some of the costs he expects to incur as follows. Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake.
Cost
|
Product
|
Period
|
Direct
|
Direct
|
Factory
|
Selling
|
Administrative
|
Direct
|
Indirect
|
Prime
|
Conversion
|
|
---|---|---|---|---|---|---|---|---|---|---|---|---|
Cost
|
Materials
|
Labor
|
|
Expense
|
Expense
|
Cost
|
Cost
|
Cost
|
Cost
|
|||
Eggs used to make cheesecakes |
|
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Baker’s wages |
|
|
|
|
|
|
|
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Delivery driver wages |
|
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Depreciation of office computers |
|
|
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|
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|
|
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Power to run the cheesecake ovens |
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President’s salary |
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Sales commissions |
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Factory supervisor salary |
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