Acct 346 Weekly Assignment Week 1

ACCT 346 Weekly Assignment Week 1
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ACCT 346 Weekly Assignment Week 1


Directions: For this assignment, assume that we’re analyzing a large factory operation that produces and markets fine baked goods to many supermarket chains. Your
assignment this week is to insert all of the answers in the empty cells below, and note that a few items have already been filled in just to get you started on each section.
1. Identify whether each of the items below is a Product Cost or Period Cost: (1/2 point each, total 5 points)
Factory insurance
Company president’s salary
Eggs, salt, water used for baking
Depreciation expense on bake ovens
Paper wrappers for bread
Factory lease
Advertising costs
Factory supervisor salaries
Sales commissions
Flour used in baking bread
Product
2. Identify whether each of the items below is a Direct Cost or Indirect Cost: (1/2 point each, total 5 points)
Factory insurance
Baker’s wages
Eggs used for baking
Depreciation expense on bake ovens
Paper wrappers for bread
Cleaning materials for bake ovens
Utilities used in factory
Factory supervisor salaries
Lubricant for factory equipment
Flour used in baking bread
Indirect
3. Identify whether each of the items below is a Fixed Cost or Variable Cost: (1/2 point each, total 5 points)
Shipping costs for bread
Cost of fuel for delivery truck fleet
Factory rent
Factory insurance
Maintenance on delivery trucks
Sales commissions
Wages paid to part-time (hourly) baker’s assistant
Oven depreciation
Cost of fruit for cake topping
Factory utilities
Question 4 General Instructions: For this baking operation, you’ll
need to first classify each expense below as direct material, direct
labor, indirect material, indirect labor, other manufacturing overhead
or period cost, and then answer the calculation questions in Parts 4b
– 4e.
Variable
4a. Amounts given below are in thousands of dollars....