Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN: 9781947172609
Author: OpenStax
Publisher: OpenStax College
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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 i
$
Product
20,000
Period
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Transcribed Image Text: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 i $ Product 20,000 Period
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Principles of Accounting Volume 2
Accounting
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax College