For each item shown below, classify it as a product cost or a period cost, by placing an X in the appropriate column. For each item that is a product cost, also indicate whether it is a direct cost or an indirect cost with respect to a unit of finished product. ?Product or period cost?Direct or indirect cost?Cost itemProductPeriodDirectIndirect Administrative salaries???? Direct labor???? Advertising???? Property tax on the factory???? Factory maintenance???? Direct materials???? Depreciation on factory equipment???? Interest expense???? Factory supplies????
What will be an ideal response?
| ? | Product or period cost? | Direct or indirect cost? | ||
| Cost item | Product | Period | Direct | Indirect |
| Administrative salaries | ? | X | ? | ? |
| Direct labor | X | ? | X | ? |
| Advertising | ? | X | ? | ? |
| Property tax on the factory | X | ? | ? | X |
| Factory maintenance | X | ? | ? | X |
| Direct materials | X | ? | X | ? |
| Depreciation on factory equipment | X | ? | ? | X |
| Interest expense | ? | X | ? | ? |
| Factory supplies | X | ? | ? | X |
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A company has $104,000 in outstanding accounts receivable and it uses the allowance method to account for uncollectible accounts. Experience suggests that 5% of outstanding receivables are uncollectible. The current balance (before adjustments) in the allowance for doubtful accounts is a(n) $940 credit. The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense for:
A. $5153 B. $5247 C. $6140 D. $5200 E. $4260
The basic document for keeping track of all costs in a job order costing system is a
A) job order cost card. B) labor time card. C) process cost report. D) materials requisition form.
Cogdill Corporation manufactures numerous products, one of which is called Epsilon78. The company has provided the following data about this product: Unit sales (a) 170,000 Selling price per unit$19.00 Variable cost per unit$15.00 Traceable fixed expense$580,000 ?Assume that the total traceable fixed expense does not change. If Cogdill increases the price of Epsilon78 to $19.76, what percentage change in unit sales would provide the same net operating income as is currently being earned at a price of $19.00? (Your answer should be rounded to the nearest 0.1%.)
A. ?28.3% B. ?14.7% C. ?16.0% D. ?5.0%
If the standard deviation is 3.4, the Z value is 1.95, and the expected date of completion is 38 months, then the due date for project completion is ______.
a. 44.63 months b. 62.78 months c. 32.55 months d. 24.50 months