To view this notification widget you need to have JavaScript enabled. This notification widget was easily created with NotifySnack.

Additional Information

Site Information

 Loading... Please wait...

ACCT 346 ACCT/346 ACCT346 Week 1 Homework Assignment

$14.99

Product Description

ACCT 346 ACCT/346 ACCT346 Week 1 Homework Assignment

Note that there are 5 PARTS spread over 3 PAGES for this homework assignment.

 

Part 1: Assume we’re operating a company that produces and sells baked goods to retail outlets. The company’s infrastructure consists of a leased factory (production) facility where all of the baking is done, and there are sales and administrative offices located in a separate building leased at another location. Identify whether each of the following expense items for this company would be categorized as a PRODUCT COST or a PERIOD COST by placing an “X” in the appropriate box for each item. Note that each type of expense is either a product cost or a period cost, but not both. The first item has already been completed for you.

Part 2: For the same company and scenario described in Part 1 above, identify whether each of the following expense items for this company would be categorized as a DIRECT COST or an INDIRECT COST by placing an “X” in the appropriate box for each item. Note that each type of expense is either a direct cost or an indirect cost, but not both. The first item has already been completed for you.

Part 3: For the same company and scenario described in Part 1 above, identify whether each of the following expense items for this company would be categorized as a VARIABLE COST or a FIXED COST by placing an “X” in the appropriate box for each item. While a couple of these items might arguably be considered “mixed” costs based on the situation, please just choose either variable cost or fixed cost for each. The first item has already been completed for you.

Part 4: For the same company and scenario described in Part 1 above, categorize each expense below as direct material, direct labor, indirect material, indirect labor, other manufacturing overhead or a period cost by placing an “X” in the appropriate box for each item. Once again, note that only one selection will apply to each item. The first item has already been completed for you.

Part 5: If we were to calculate each of the four cost category groupings shown in the first column below (e.g., total manufacturing overhead), which of the various expense items listed across the top of the table would need to be included? Place an “X” in each expense item that would need to be included in calculating the sum for each separate cost category shown, and be aware it’s likely that more than one expense item will apply in each calculation. Note that we are not actually calculating any values, but are instead simply showing the components for each aggregated cost category listed. The first cost category (total manufacturing overhead) has already been completed for you.

Find Similar Products by Category

Click the button below to add the ACCT 346 ACCT/346 ACCT346 Week 1 Homework Assignment to your wish list.