50.1K

Verified Solution

Link Copied!

/s1a 2.07 Classifying Costs incurred by several businesses. Classity each of the follo The following is a list of 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. wing costs as product costs Costs Classification Product costs-factory overhead cost Period costs-selling expense Product costs-factory overhead cost Product costs-factory overhead cost Product costs-factory overhead cost 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 i. Protective glasses for factory machine operators Period costs-administrative expense Product costs-factory overhead cost Product costs-direct materials cost Period costs-selling expense Product costs-factory overhead cost Period costs-selling expense Product costs-direct materials cost k. Sales commissions I. Cost of hogs for meat processor m. Cost of telephone operators for a toll-free hotline to help customers operate products n. Hard drives for a microcomputer manufacturer Period costs-selling expense Product costs-direct materials cost Product costs-direct materials cost o. Lumber used by furniture manufacturer p. Wages of a machine operator on the production line Product costs-direct labor cost c-activity Service,.activity.1 530812 453634&dn_ ?., P1 Page 1 of 2

Answer & Explanation Solved by verified expert

See Answer