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il63 [147K]
3 years ago
13

For each item listed below, indicate in the space to the right whether the item would be considered a product cost or a period c

ost for a manufacturing company. 1. Factory supervisory salaries 2. Sales commissions 3. Income tax expense 4. Indirect materials used 5. Indirect labor 6. Office salaries expense 7. Property taxes on factory building 8. Sales manager's salary 9. Factory wages expense 10. Direct materials used
Business
1 answer:
Katena32 [7]3 years ago
3 0

Answer:

1. Factory supervisory salaries  <u><em>Production Cost</em></u> Factory Overhead

2. Sales commissions Period Cost Selling expense

3. Income tax expense Period Cost tax expense

4. Indirect materials used <u><em>Production Cost</em></u> Factory Overhead

5. Indirect labor <u><em>Production Cost </em></u>Factory Overhead

6. Office salaries expense Period Cost Administrative expense

7. Property taxes on factory building <em><u>Production Cost</u></em><em> </em>Factory Overhead

8. Sales manager's salary Period Cost Selling expense

9. Factory wages expense <em><u>Production Cost </u></em>Direct Labor

10. Direct materials used   <em><u>Production Cost</u></em> Direct Materials

Explanation:

A period cost is any cost that cannot be capitalized into prepaid expenses, inventory, or fixed assets

Period cost goes straight to expense account

While

Production Cost do capitalizes through Inventory and later recognize as cost of goods sold.

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2 years ago
Gross profit is equal to:
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3 years ago
Suppose the Federal Reserve sets the reserve requirement at 20%, banks hold no excess reserves, and no additional currency is he
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The money multiplier is 5. And the total money supply increase by $2,000 million if the Federal Reserve increases reserves by $400 million.

Given,

The Federal Reserve sets the reserve requirement at 20%.

Banks hold no excess reserves, and no additional currency is held.

  • The money multiplier displays the amplitude of the change in the money supply as a result of the addition of new reserves to the banking system.
  • Banks use the money they are not obligated to retain in reserve to make loans, and the borrowed money shows up on other customers' deposit accounts.
  • In macroeconomics, the money multiplier is significant because it controls the money supply, which influences interest rates.
  • Because it affects monetary policy and the stability of the banking industry, it is also significant in the banking industry.

The money multiplier formula can be used to calculate the total amount of new deposits or money created.

Money multiplier = 1/reserve ratio

                            = 1/0.20

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change in Total money supply = Money multiplier × change in reserves

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Hence, The money multiplier is 5. And the total money supply increase by $2,000 million if the Federal Reserve increases reserves by $400 million.

Learn more about Federal Reserve Bank:

brainly.com/question/999538

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