Obj. 2 EX 16-2 Classifying costs as materials, labor, or factory overhead Indicate whether the following costs of Procter & Gamble (PG), a maker of consumer prod- ucts, would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant b. Packaging materials C. Maintenance supplies d. Licensing payments for use of Disney characters on children's products e. Paper used in bath tissue f. Salary for process engineers g. Chemicals for body wash products h. Plant manager salary for the lowa City, lowa, plant i. Scents and fragrances used in making soaps and detergents j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant

Obj. 2 EX 16-2 Classifying costs as materials, labor, or factory overhead Indicate whether the following costs of Procter & Gamble (PG), a maker of consumer prod- ucts, would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant b. Packaging materials C. Maintenance supplies d. Licensing payments for use of Disney characters on children's products e. Paper used in bath tissue f. Salary for process engineers g. Chemicals for body wash products h. Plant manager salary for the lowa City, lowa, plant i. Scents and fragrances used in making soaps and detergents j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Indicate whether each cost is: A. Fixed or Variable b. Selling, General/Administrative, or Manufacturing
Please do not give solution in image format thanku
Question 13 Direct material costs are recorded: O Indirectly to Goods in Process account. O Indirectly to a Finished Goods account. O Directly to a Goods in Process account. O Directly to a Finished Goods account. O Directly to a Cost of Goods Sold account. Question 14 The purchase of raw materials on account in a process costing system is record O Debit to Purchases and credit to Cash. Debit to Purchases and a credit to Accounts Payable. Debit to Raw Materials Inventory and a credit to Accounts Payable.
Which of the following costs is best classified as a fixed cost with respect to volume of activity? (See your Chapter 20 notes, page 5) Direct labor Electricity used to heat, light, and cool a factory Cleaning supplies used in an automobile assembly plant Straight-line depreciation expense of a machine used in a factory Total cost of salaries paid to quality inspectors in a manufacturing plant Tires used in an automobile manufacturing plant
:14 es Howell Corporation's activity-based costing system has three activity cost pools-Machining, Setting Up, and Other. The company's overhead costs, which consist of equipment depreciation and indirect labor, are allocated to the cost pools in proportion to the activity cost pools' consumption of resources. Equipment depreciation (total) Indirect labor (total) Distribution of Resource Consumption Across Activity Cost Pools Setting Up 0.30 0.10 Equipment depreciation Indirect labor Product S4 Product CO Total Costs in the Machining cost pool are assigned to products based on machine-hours (MHS) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. Sales (total) Direct materials (total) Direct labor (total) $ 33,800 $ 7,950 MHS 8,900 6,300 15,200 Required A Machining 0.30 0.30 Additional data concerning the company's products appears below: Product S4 Product Co $ 88,100 $ 75,500 $…
Maglie Company manufactures two video game consoles: handheld and home. The handheld consoles are smaller and less expens than the home consoles. The company only recently began producing the home model. Since the introduction of the new product. profits have been steadily declining. Management believes that the accounting system is not accurately allocating costs to products particularly because sales of the new product have been increasing Management has asked you to investigate the cost allocation problem. You find that manufacturing overhead is currently assigned to products based on their direct labor costs. For your investigation, you have data from last year. Manufacturing overhead was $1,366,000 based on production of 340.000 handheld consoles and 89,000 home consoles. Direct labor and direct materials costs were as follows. Direct labor Materials Handheld $1,294, 500 790,000 Cost Driver Number of production runs Quality tests performed Shipping orders processed Total overhead…
29 Which of the following is not a factory overhead item? Group of answer choices Factory utilities Factory depreciation and supplies Production line labor Maintenance department of a factory
SUBJECT: P ACC Q1B PLAESE ANSWER ASAP
Please do not give salutations in image format thankuh
Info in images
Please do not give solution in image format thanku
Case N ° 3The industrial company Arica S.A. It treats a raw material A and a raw material B in Workshop 1. At the exit of this workshop a semi-finished or intermediate product is obtained that goes to the warehouse. This semi-finished product is treated again in Workshop 2, and when it leaves the finished products X and Y that enter the warehouse are produced. Regarding its economic organization, the company is divided into the following activity centers (two auxiliary and four main), which allow control over indirect costs: Administration, Energy, Purchasing, Workshop 1, Workshop 2 and Sales. I. Data common to general accounting and cost accounting: The data that constitute the starting situation of Cost Accounting are: a) Opening stocks: - Raw material A (12,000 kg): ¢ 25,200- Raw material B (36,000 kg): ¢ 95,400- Semi-finished product: nothing;- Product X (2,860 units): ¢ 33,088- Product Y (45 units): ¢ 950 b) Purchases of the period: - Raw material A: 24,000 kg at ¢ 2.10 per kg;-…