Question

The following is a list of costs incurred by several different businesses. a) The cost of...

The following is a list of costs incurred by several different businesses.

a) The cost of cotton used in the production of shirts.

b) Maintenance costs for factory equipment.

c) The annual salary for the three factory managers.

d) Depreciation on marketing equipment.

e) Cost of Wages for the laborers hired to bottle beer in the brewery plant.

f) Telephone charges of the CEO’s office.

g) Depreciation of tools used in production.

h) Rent on the head office building.

i) Shipping charges for goods shipped to customers.

j) Cost of painting the factory cafeteria.

Required: For each of the costs listed above complete the chart below by placing an X in the appropriate space

Product

Cost

Period

Cost

Behavior

Cost Item

Direct Materials

Direct Labour

Mfg O/H

Selling

Admin

Var

Fixed

a

b

c

d

e

f

g

h

i

j
Business   Accounting   
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Product Cost Period Cost Behavior
Cost Item Direct Materials Direct Labor Mfg O/H Selling Admin Variable Fixed
a) The cost of cotton used in the production of shirts. Yes Yes
b) Maintenance costs for factory equipment. Yes Yes
c) The annual salary for the three factory managers. Yes Yes
d) Depreciation on marketing equipment. Yes Yes
e) Cost of Wages for the laborers hired to bottle beer in the brewery plant. Yes Yes
f) Telephone charges of the CEO’s office. Yes Yes
g) Depreciation of tools used in production. Yes Yes
h) Rent on the head office building. Yes Yes
i) Shipping charges for goods shipped to customers. Yes Yes
j) Cost of painting the factory cafeteria. Yes Yes
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