Presented below is a list of costs and expenses usually incurred by Barnum Corporation, a manufacturer of furniture, in its factory. Classify the below items into the following categories: (a) direct materials, (b) direct labor, and (c) manufacturing overhead.     Item   Category 1.   Salaries for assembly line inspectors.   select a category                                                            2.   Insurance on factory machines.   select a category                                                            3.   Property taxes on the factory building.   select a category                                                            4.   Factory repairs.   select a category                                                            5.   Upholstery used in manufacturing furniture.   select a category                                                            6.   Wages paid to assembly line workers.   select a category                                                            7.   Factory machinery depreciation.   select a category                                                            8.   Glue, nails, paint, and other small parts used in production.   select a category                                                            9.   Factory supervisors’ salaries.   select a category                                                            10.   Wood used in manufacturing furniture.   select a category

Determine whether each of the following costs should be classified as product costs or period costs. Depreciation on office equipment. Salary to painting supervisor. Wages paid to production workers. Insurance on office equipment and machinery. Materials purchased.

Gala Company is a manufacturer of laptop computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: direct materials, direct labor, manufacturing overhead, and period costs. For each item, indicate the cost category to which it belongs. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Property taxes on the factory building. Production superintendents' salaries. Memory boards and chips used in assembling computers. Depreciation on the factory equipment. Salaries for quality control inspectors. Sales commissions paid to sell laptop computers. Electrical components used in assembling computers. Wages of workers assembling laptop computers. Soldering materials used on factory assembly lines. Salaries for the night security guards for the factory building. Category

Classic manufacturing costing system uses a​ three-part classification of direct​ materials, direct manufacturing​ labor, and manufacturing overhead costs. The following items​ (in millions) pertain to Classic Corporation.   Requirement Prepare an income statement and a supporting schedule of cost of goods manufactured.   Begin by preparing the supporting schedule of cost of goods manufactured​ (in millions). Start with the direct materials and direct labor​ costs, then indirect manufacturing​ costs, and complete the schedule by calculating cost of goods manufactured.    For Specific Date Work-in-process inventory, January 1, 2020 $12 Direct materials inventory, December 31, 2020 8 Finished-goods inventory, December 31, 2020 11 Accounts payable, December 31, 2020 20 Accounts receivable, January 1, 2020 59 Work-in-process inventory, December 31, 2020 1 Finished-goods inventory, January 1, 2020 46 Accounts receivable, December 31,…