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3 years ago

Indicate for each of the following costs whether it is a product cost or a period cost.

Business

1 answer:

MAVERICK [17]3 years ago

5 0

Answer and Explanation:

The classification of the following cost i.e. either product cost or period cost is

1. Period cost as it deals with the operating expense

2 Product cost as it directly linked with the product

3 Product cost as it directly linked with the product

4 Product cost as it directly linked with the product

5 Product cost as it directly linked with the product

6 Product cost as it directly linked with the product

7 Product cost as it directly linked with the product

8 period cost as it does not directly linked with the product

9 Product cost as it directly linked with the product

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2 years ago

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Old School Publishing Inc. began printing operations on January 1. Jobs 301 and 302 were completed during the month, and all cos

Juli2301 [7.4K]

Answer:

WIP inventory 68,000 debit

Factory Overhead 8000 debit

Raw Materials Inventory 76,000 credit

WIP inventory 55.000 debit

Factory Overhead 12,400 debit

Factory Payroll payable 77,400 credit

WIP inventory 31,250 debit

Factory overhead 31,250 credit

Finished Goods Inventory 73,750 debit

WIP inventory 73,750 credit

Explanation:

Direct Materials used:

10,000 + 20,000 + 24,000 + 14,000 = 68,000

Direct Labor used:

8,000 + 17,000 + 18,000 + 12,000 = 55,000

Overhead Applied:

6,000 + 12,750 + 13,500 + 9,000 = 31,250

Overhead rate:

6,000 / 8,000 = 0.75

12,750 / 17,000 = 0.75

Finished goods:

24,000 + 49,750 = 73,750

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3 years ago

During fiscal 2016, mattel had sales of $5,456,650, total expenses of $5,138,628 and gross profit of $2,554,391. What was mattel

liberstina [14]

Calculation of Cost of Sales for Mattel for the year 2016:

It is given that Mattel had sales of $5,456,650, and gross profit of $5,456,650for the year 2016. The cost of sales can be calculated with the help of following formula:

Cost of Sales = Sales – Gross Profit

Cost of Sales = 5,456,650-5,456,650

Cost of Sales = 2,902,259

Hence the Cost of Sales is 2,902,259 ($ in thousands).

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3 years ago

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Answer

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3 years ago

Taking into account recent technological developments what technical advances do you think are possible in the next twenty years

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Answer:

1. Automation and robotics

2. Hyperloop and autonomous vehicles

3. Smart drones

4. Virtual reality learning

5. Space vacation (tourism)

Explanation:

1. Automation and robotics: This will continue to transform the manufacturing sector in various ways with use of Internet of Things (IoT), learning though data collection and analysis, there will be a general increase in robotic integration.

2. Hyperloop and autonomous vehicles: pneumatic tube that uses a series of linear induction motors and compressors to propel vehicles at super fast speeds. Hyperloop’s technology will be the future of long distance travel in the world. Also, autonomous vehicle technology will become a safer alternative to human driving.

3. Smart drones: The use of drones for delivering parcels, Medicine, Pizza, and all types of goods is receiving large investment from Google, Amazon, Walmart and so on. Drones will be the future of delivering items in future.

4. Virtual reality classrooms and meetings: This is a technological advancement that will provide an engaging and immersive experience in learning and other virtual meetups without leaving ones current environment.

5. Space vacation (tourism): This will give opportunity to the members of the public to buy tickets(return tickets) to travel to the space and probably stay for a given period. With the help of companies like Spacex, Orbital Technologies etc, space tourism is becoming a realistic target.

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3 years ago