Classifying Costs The following is a list of costs incurred by several businesses. Classify each of the following costs as product costs or period costs. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs Classification a.  Salary of quality control supervisor   b.  Packing supplies for products sold. These supplies are a very small portion of the total cost of the product.   c.  Factory operating supplies   d.  Depreciation of factory equipment   e.  Hourly wages of warehouse laborers   f.  Wages of company controller’s secretary   g.  Maintenance and repair costs for factory equipment   h.  Paper used by commercial printer   i.  Entertainment expenses for sales representatives   j.  Protective glasses for factory machine operators   k.  Sales commissions   l.  Cost of hogs for meat processor   m.  Cost of…

1 For each of the following costs, identify the cost behavior as variable, mixed, or fixed: 1. Wages of assembly line workers 2. President's salary. 3. Plant utilities, 4. Sales force commissions 5. Shipping costs 6. Factory rent. 7. Research and development expenses 8. Property taxes 9. Advertising. 10. Supplies used in production

Problem 1Classify the following as to Fixed, Variable or Mixed Cost1. Factory Rent2. Wages of workers paid based on units produced3. Cost Accountant Salary4. Depreciation based on output5. Salary of Factory supervisor6. Basic Salary plus sales commission of salesman7. Paper in manufacturing of books8. Factory Insurance9. Monthly Depreciation of Building10. Bottle used in packaging