Acct 346 Devry (Managerial Accounting) Entire Course - 2015

ACCT 346 DEVRY (Managerial Accounting) Entire Course - 2015

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ACCT 346 DEVRY (Managerial Accounting) Entire Course - 2015

ACCT 346 Weekly Assignment

Week 1

Directions: Your assignment this week is to answer the four questions below. Please note that Question 4 contains multiple parts. Please show your work for full credit on Questions 4b - 4e.

1. Identify whether each of the items below is a Product Cost or Period Cost: (1/2 point each, total 5 points)

Factory insurance Product

Interest on bank loan

Eggs, salt, water used for baking

Depreciation on bake ovens

Paper wrappers for bread

Delivery truck costs

Advertising costs

Factory supervisor salaries

Sales Commissions

Flour used in baking bread

2. Identify whether each of the items below is a Direct Cost or Indirect Cost: (1/2 point each, total 5 points)

Factory insurance Indirect

Baker's wages

Eggs used for baking

Depreciation on bake ovens

Paper wrappers for bread

Cleaning materials for bake ovens

Utilities used in factory

Factory supervisor salaries

Small amount of salt used

Flour used in baking bread

3. Identify whether each of the below is a Fixed Cost or Variable Cost: (1/2 point each, total 5 points)

Shipping costs for bread Variable

Cost of fuel for delivery truck

Factory rent

Factory insurance

Maintenance on delivery truck

Sales commissions

Hourly wages paid to baker's assistant

Oven depreciation

Cost of fruit for cake topping

Factory utilities

4. Classify each as direct material, direct labor, indirect labor, indirect labor, other manufacturing overhead or period cost, and then answer the 5 questions below: 4a. Classify each cost (the first one is done for you): (5 points total)

An airline manufacturer incurred the following costs last month (in thousands of...