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Devry ACCT 346 All Weeks Homework Assignments – Latest 2015
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Devry ACCT 346 All Weeks Homework Assignments – Latest 2015
WEEK 1 TO 7
Question
ACCT346 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...