to classify costs associated with manufacturing


To classify Costs associated with manufacturing firms, merchandising firms or service firms as (1)product or period costs; (2) Variable or fixed costs and (3) further classifying product costs into direct materials, direct labor, manufacturing overhead.

The following are costs associated with manufacturing firms, merchandising firms, or service firms:
1. Miscellaneous materials used in production 
2. Salesperson's commission in a real estate firm 
3. Administrators' salaries for a furniture wholesaler 
4. Administrators' salaries for a furniture manufacturer 
5. Freight costs associated with acquiring inventories for a grocery store 
6. Office manager's salary in a doctor's office 
7. Utilities for the corporate offices of a toy manufacturer 
8. Line supervisor's salary for a clothing manufacturing firm 
9. Training seminar for sales staff of a service firm 
10. Fuel used in a trucking firm 
11. Paper used at a printing business 
12. Oil for machinery at a plastics manufacturing firm 
13. Food used at a restaurant 
14. Windshields used for a car manufacturer

Classify the costs as (1) product or period; (2) variable or fixed; and (3) for those that are product costs, as direct materials, direct labor, or manufacturing overhead. Write "not applicable (N/A)" if a category doesn't apply.

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Financial Accounting: to classify costs associated with manufacturing
Reference No:- TGS0451782

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