(a) Specify whether each cost is a product cost or a period cost. (b) For any costs that were determined to be product costs, identify whether the cost is a direct cost or an indirect cost and whether it is a prime cost and/or a conversion cost. (If cost is a period cost select "NA" in "Direct or Indirect" and "Prime or Conversion" columns.) Cost description Wages for hourly factory workers Social media marketing Canvas material Thread for sewing the bags Executive salaries Factory supervisor salaries Depreciation on factory assets Wages and commission to salespeople Utility costs for the factory Amount $45,000 13,000 32,500 1,000 87,000 63,500 39,000 45,000 9,300 Product or Period > > Direct or Indirect Prime or Conversion

(a) Specify whether each cost is a product cost or a period cost. (b) For any costs that were determined to be product costs, identify whether the cost is a direct cost or an indirect cost and whether it is a prime cost and/or a conversion cost. (If cost is a period cost select "NA" in "Direct or Indirect" and "Prime or Conversion" columns.) Cost description Wages for hourly factory workers Social media marketing Canvas material Thread for sewing the bags Executive salaries Factory supervisor salaries Depreciation on factory assets Wages and commission to salespeople Utility costs for the factory Amount $45,000 13,000 32,500 1,000 87,000 63,500 39,000 45,000 9,300 Product or Period > > Direct or Indirect Prime or Conversion

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 5E: From the choices presented in parentheses, choose the appropriate term for completing each of the...

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