1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sineoko [7]
2 years ago
11

Marv's Furniture and Fixtures produces seats for movie theaters. Listed below are selected cost items for the seat production. C

lassify each cost as either fixed or variable, and either a product or a period cost:
1. Fabric for seats.
2. Assembly labor.
3. Factory property taxes.
4. Accounting staff salaries.
5. Sales office rent.
6. Sales manager's salary.
7. Depreciation on factory equipment.
8. Sales commissions.
Business
1 answer:
MatroZZZ [7]2 years ago
5 0

Answer:

Fixed cost is the one which remains fixed and doesn't changes within a range of level of activity changes which includes Factory property taxes (doesn't changes with furniture manufacturing), accounting staff salaries (doesn't changes with furniture manufacturing), sales office rent (doesn't changes with furniture manufacturing), Sales manager salary and Depreciation on factory equipment.

On the other hand, the variable cost changes with the change in the level of activity and this includes fabric for seats (greater usage for greater amount of seats), assembly labor and sales commissions paid.

Period cost is the cost that is associated with the passage of time and increases with the passage of time and is not dependent on level of activity.

This includes Factory property taxes, accounting staff salaries, sales office rent, Sales manager salary and Depreciation on factory equipment.

Product cost is the cost that is associated with costs that are directly linked with manufacturing of the product. This includes all the variable overheads, specific fixed cost and variable costs. The examples include Fabric for seats and Assembly labor.

You might be interested in
Which of the following is an example of discrimination in the workplace? refusing to hire a person because another person is bet
zzz [600]
Refusing to hire a minority. It is illegal to discriminate based on race, gender, etc. The other options are valid reasons to choose not to hire someone
6 0
3 years ago
Zen Arcade paid the weekly payroll on January 2 by debiting Salaries and Wages Expense for $47,000. The accountant preparing the
Travka [436]

Answer:

The correct entry is to reverse the entry on December 3rd

Dr Salaries and Wages expenses of $27,000

Cr Salaries and Wages payable of $27,000

Explanation:

During the time of the accrued entry, which is on December 31st

the company registered

Dr Salaries and Wages PAYABLE of $27,000

Cr Salaries and Wages EXPENSES of $27,000

It was just an accrued entry to be able to identify the expenses to the balance sheet, but currently on the original expenses on January 3rd, the entry is reverse, then the real or main expenses is recorded in the balance sheet.

Dr Cash of $47,000

Cr Salaries and Wages EXPENSES of $47,000

7 0
3 years ago
Heya, guys! I got banned yesterday, but now I'm back! It's good to be back, hahahaha!
erastovalidia [21]
The answer is 72 lol
6 0
3 years ago
Read 2 more answers
The ___________ must be the basis for a project cost estimate if you plan to create a cost baseline and use earned value managem
kogti [31]

The work breakdown structure must be the basis for a project cost estimate if you plan to create a cost baseline and use earned value management as part of monitoring and controlling costs.

Work can be made more manageable and approachable by using a common productivity strategy called task breaking. The Work Breakdown Structure (WBS), one of the most significant projects management papers, is the tool that applies this technique to projects. It does it on its own, integrating scope, cost, and schedule baselines to guarantee project plans are in sync.

The Work Breakdown Structure is a "deliverable-oriented hierarchical decomposition of the work to be completed by the project team," according to the PMI Project Management Book of Knowledge (PMBOK). WBS can be divided into two categories: deliverable-based and phase-based. The deliverable-based strategy is the most popular and preferred method. The Elements listed in the first Level of the WBS are the primary distinction between the two methodologies.

Learn more about project costs here brainly.com/question/15518327

#SPJ4

3 0
1 year ago
62. In the MARKET GROWTH stage of the product life cycle: A. competing products become almost the same in the minds of potential
OleMash [197]

Answer:

d

Explanation:

this is where the product is marketed and continues to pick up customers who will use the product repeatedly and refer others for its usage

3 0
3 years ago
Other questions:
  • The financial statements of the Skysong, Inc. reports net sales of $372000 and accounts receivable of $60000 and $31200 at the b
    6·1 answer
  • A 2001 harris poll of 1011 randomly selected american adults found that 25% were cigarette smokers. a sample of the same size in
    5·1 answer
  • Shelli's Ski Super has sales of $670, net fixed assets of $210, total assets of $305, and current assets of $25. What is the tot
    10·1 answer
  • Your credit limit is $1,000 what is the max you should ever owe on this card?
    11·2 answers
  • When the amount for land is 36,000 and the amount paid for expenses is 10,000, the balance of total asset is
    7·1 answer
  • Government's role is to create and enforce laws that:
    5·1 answer
  • Ana Co. uses the allowance method to account for bad debts. At the end of the period, Ana's unadjusted trial balance shows an ac
    13·1 answer
  • The process of asset transformation refers to the conversion of:_______
    6·1 answer
  • Company Name: XXX XXX Coffee Co
    10·1 answer
  • 100 POINTS MICROECONOMICS
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!