Which of the following is NOT a period cost? Cost of a seminar concerning tax law updates that was attended by the company's controller. Depreciation of factory maintenance equipment Insurance on a company showroom where customers can view new products. Salary of a clerk who handles customer billing.
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Q: which one of the following is not an example of a committed fixed cost
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Cost is the amount of expenditure related to the item such as products, customers, activities, departments, and so on. Costs are bifurcated into two various categories including fixed costs, variable costs, mixed costs, period costs, product costs, and so on.
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- Which of the following is NOT a period cost? Multiple Choice O Depreciation of photocopiers in the office. Salary of the accounts payable clerk Insurance on a company showroom where customers can view new products. Salary of the plant supervisor.Which of the following would most likely be a period cost? Depreciation on factory lunchroom furniture. Salary of telephone receptionist in the sales office. Salary of a security guard for the factory parking lot. Computer chips used by a computer manufacturer.1. Which of the following is not a component of factory overhead? a. Payroll taxes share of the employer b. Payroll taxes share of the employee-laborer c. Indirect labor d. Supervision 2. Which of the following is not a component of factory overhead? Utilities expense b. Depreciation expense c. Accumulated depreciation d. Food purchases by cafeteria service department a. 3. Which of the following is part of a regular year-end adjustment to factory overhead? a. Indirect materials b. Factory supplies c. Loss from reprocessing defective units. d. Deprecation 4. What account is credited at year-end adjusting entry for insurance premiums under the so-called "asset method" of accounting? а. Cash b. Prepaid Insurance c. Factory Overhead Control d. Applied Factory Overhead 5. What account is debited at year-end adjusting entry for insurance premiums under the so-called "expense method" of accounting? a. Applied Factory Overhead b, Factory Overhead Control c. Prepaid Insurance d. Insurance…
- Which one of the following is an example of a period cost? A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer. Workers' compensation insurance on factory workers' wages allocated to the factory. A box cost associated with computers. A manager's salary for work that is done in the corporate head office.Which one of the following is not an example of a discretionary cost. The salary of the chlef financial officer ob The cost of annual end of year celebration Oc The salary of the marketing manager d. None of the given answers e. The cost of employee training program S PAGE WindowsWhich one of the following is an example of a committed cost? O a. The salary of the marketing manager O b. None of the given answers С. The cost of employee training program O d. The salary of the chief operating officer e. The cost of annual end of year celebration
- Classify each of the following costs as manufacturing or non manufacturing: 1. Factory rental 2. Interest on bank overdraft 3. Depreciation on warehouse equipment 4. Salary and bonus for the chief accountant 5. Wages of security guards in factory 6. Advertising 7. Property taxes on corporate headquarters building 8. Gas and electricity for the factory 9. Carriage on purchase of raw materials 10. Operators of product help lines for customersWhich one of the following is an example of a committed cost? a. The cost of annual end of year celebration а. b. None of the given answers С. The salary of the chief operating officer d. The cost of employee training program * e. The salary of the marketing managerFollowing items belong to the revenue, expenditure, human resources/payroll, production, or financing cycle. Classify each item based on the cycle it belongs to. a. Pay pay-as-you-earn (PAYE) payroll taxes b. Send material requisition to inventory c. Issue stock to investors d. Borrow money from the bank to purchase a new factory e. Complete receiving report f. Appoint replacement purchasing clerk g. Measure employee performance using a performance management system h. Choose suitable supplier of raw materials i. Ensure employees are up to date with the latest tax provisions j. Record personal and tax information for new employees
- Which one of the following is an example of a committed cost? a. The salary of the marketing manager O b. The salary of the chief operating officer O c. None of the given answers O d. The cost of employee training program O e. The cost of annual end of year celebrationIn a manufacturing company, which of the following will affect gross profit?a. A change in the depreciation policy applied to production equipmentb. Insurance paid on delivery vehiclesc. Reduction in the overdraft interest rated. Cost of training finance staff on the use of an accounting packageQuestion 4 Various cast associated with the operation of factories are given below: Electricity to run production cost, Rent on factory building Cloth used to make drapes. Production supervisor salary. Wages of labourers assembling a product. Depreciation on air purification equipment used to make furniture. Factory janitorial salaries Tomatoes used in canning fruits. Lubricants for production equipment. Sugar used in soft drink production. Property tax on the factory. Wages for workers painting cars. Depreciation on canteen equipment. Insurance on building used in bakıng bread for sale. Cost of brakes used in manufacturing automobile. 3 6. 9 10 11 12 13 14 15 Required: Classify each cost as either variable or fixed with respect to the number of units produced and sold. Also indicate whether each cost is either product cost or period cost. (Fill X in the table given in the answer sheet). a) " The variable cost per unit varies with output, whereas the fixed cost per unit in constant".…