Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat 1. Plastic for casing-$20,000 2. Wages of assembly workers-$89,000 3. Property taxes on factory-$6,000 4. Office accounting salaries-$39,000 5. Drum stands-$35,000 6. Rent cost of office for accountants-$48,000 7. Office management salaries-$210,000 8. Annual fee for factory maintenance-$16,000 9. Sales commissions-$21,000 10. Factory machinery depreciation, straight-line-$41,000 Costs Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9 Sales commissions 10 Factory machinery depreciation, straight-line $ Product 20,000 Period
Listed here are the costs associated with the production of 1,000 drum sets manufactured by TrueBeat 1. Plastic for casing-$20,000 2. Wages of assembly workers-$89,000 3. Property taxes on factory-$6,000 4. Office accounting salaries-$39,000 5. Drum stands-$35,000 6. Rent cost of office for accountants-$48,000 7. Office management salaries-$210,000 8. Annual fee for factory maintenance-$16,000 9. Sales commissions-$21,000 10. Factory machinery depreciation, straight-line-$41,000 Costs Required: 1. Classify each cost and its amount as either product or period. The first cost is completed as an example. Costs 1. Plastic for casing 2. Wages of assembly workers 3. Property taxes on factory 4. Office accounting salaries 5. Drum stands 6. Rent cost of office for accountants 7. Office management salaries 8. Annual fee for factory maintenance 9 Sales commissions 10 Factory machinery depreciation, straight-line $ Product 20,000 Period
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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