6. Which of the following companies has all costs along the value chain accounte
ID: 2437248 • Letter: 6
Question
6. Which of the following companies has all costs along the value chain accounted for as period costs? A. B. C. D. Manufacturing Corporation Merchandising Service Corporation None of the above 7. Which of the following is a period cost? A. B. C. D. Direct materials Advertising Salaries of plant supervisors Wages of production line employees 8. Given the following July financial information for Classic Toy Manufacturing Company, what amount of cost of goods sold would be reported by Classic Toy for the month of July? $25,000 Cost of goods manufactured Beginning finished goods inventory Ending finished goods inventory General and administrative expenses Selling expenses 4,000 6,000 3,000 2,000 A. $23,000 B. $25,000 C. $26,000 D. $28,000 9. Which of the following is a NOT a variable cost for a plant that manufactures iPods? A. B. C. D. Plastic used to make the cases Employee wages for assembly Straight line depreciation of warehouse building Computer chip used in each iPod 10. Far Fly Golf Ball Company's manufacturing costs for September are: * Materials cost: $20,000 Labor cost: $15,500 Overhead: $5,500 If plant employees manufactured 50,000 golf balls during the month of September, what is the cost (rounded) per golf ball? $1.22 $0.82 A. C. $0.71 B. D. $0.40Explanation / Answer
6. Service corporation has all cost along the value chain accounted for period cost
7. Advertising is part of period cost as all the other costs are part of product cost
8.
9. Staraight line depreciation is fixed cost
10.
Cost of goods manufactured 25000 Add Beginning finished goods inventory 4000 Cost of goods available for sale 29000 Less Ending finished goods inventory 6000 Cost of goods sold 23000Related Questions
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