Concept – Factory Costs
Managerial Accounting
Garrison, Noreen, and Brewer
17th Edition
What is the category of the following factory costs: supplies, taxes, insurance, security and janitor?
What is the category of the following factory costs: supplies, taxes, insurance, security and janitor?
Factory costs such as supplies, supervisors, taxes, insurance, and janitor are classified as what
Some factory materials, such as saw blades, cleaning supplies, etc, which are not part of the finished products are
Fantastic Furniture makes sofas. The material used to make a sofa is
Many fast-food restaurants compete on lean business methods. Match activities for a fast-food restaurant with the lean business concept.
What do you call the fixed costs that are not easily changed and lead a company to a multi-year decision?
What are the fixed costs that (1) can be excluded without great harm to the goals of a company and (2) cannot be removed or changed?
Based on Apple’s iPhone, identify costs as either direct materials, direct labor, factory overhead, selling , or administrative expenses. (Screen, supervisor, workers, executive, glue, uniforms, wages retail, depreciation)
Soccer Balls: Identify as fixed, variable, direct, indirect. (leather, security, coolants, wages, thread, tax, depreciation)
For each of the following accounts for a manufacturing company, select in the column indicating that it appears on the balance sheet, the income statement, the schedule of cost of goods manufactured. (accounts rec, etc.)