Question

Classify each of the following independent costs as a product or period costs and whether they...

Classify each of the following independent costs as a product or period costs and whether they are variable cost or fixed cost:

  1. Depreciation using the units of production method on packaging equipment.
  2. Sheet aluminum used in making airplanes.
  3. Wages of assembly line workers.
  4. Salaries of plant security guards.
  5. Insurance for employees on the automotive assembly line.
  6. Straight-line Depreciation on the corporate office building.
  7. Factory heating costs.
  8. Adverting costs incurred by Adams Cable Company.
  9. Wages of finished goods quality inspectors at a breakfast cereal processor.
  10. President’s Salary of a wheat mill.

Homework Answers

Answer #1

Classification of costs

Product costs Period Costs Variable Fixed
Depreciation on packaging equipment Yes Yes
Sheet aluminum Yes Yes
Wages of assembly line workers Yes Yes
Salaries of plant security guards yes Yes
Insurance for employees for automobile assembly line Yes Yes
SLM depreciation on office building Yes Yes
Factory heating costs yes Yes
Advertising costs Yes Yes
Wages of finished goods quality inspectors Yes Yes
President salary Yes Yes
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