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  • Cost Management

    Transféré par

    Saurabh Choudhary
    22 vues7 pages
    This document contains sample problems and exercises on classifying costs as product costs or period costs, and classifying costs as manufacturing costs, non-manufacturing costs, direct costs, or indirect costs. It includes a schedule of cost of goods manufactured for San Fernando Fashions Company for the year ended December 31, 20x2, as well as tables listing various costs and identifying which category they fall into. The document aims to help with understanding different types of costs and how to properly classify them.

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    Cost

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    This document contains sample problems and exercises on classifying costs as product costs or period costs, and classifying costs as manufacturing costs, non-manufacturing costs, direct costs, or indirect costs. It includes a schedule of cost of goods manufactured for San Fernando Fashions Company for the year ended December 31, 20x2, as well as tables listing various costs and identifying which category they fall into. The document aims to help with understanding different types of costs and how to properly classify them.

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    © All Rights Reserved
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    22 vues7 pages

    Cost Management

    Transféré par

    Saurabh Choudhary
    This document contains sample problems and exercises on classifying costs as product costs or period costs, and classifying costs as manufacturing costs, non-manufacturing costs, direct costs, or indirect costs. It includes a schedule of cost of goods manufactured for San Fernando Fashions Company for the year ended December 31, 20x2, as well as tables listing various costs and identifying which category they fall into. The document aims to help with understanding different types of costs and how to properly classify them.

    Droits d'auteur :

    © All Rights Reserved
    Téléchargez comme PPT, PDF, TXT ou lisez en ligne sur Scribd
    Signaler comme contenu inapproprié
    sur 7

    Cost Management

    PGP, 2013-14
    Session 1
    Introduction - Assignments

    Problem 2-43 (p105)

    San Fernando Fashions Company


    Schedule of Cost of Goods Manufactured
    For the Year Ended December 31, 20x2

    Problem 2-43 continued

    SAN FERNANDO FASHIONS COMPANY


    SCHEDULE OF COST OF GOODS SOLD
    FOR THE YEAR ENDED DECEMBER 31, 20X2

    Problem 2- 41 (page 104)

    Extra Exercise - Product Cost, Period Cost

    Product Costs or Period Costs ?

    Product
    Cost

    Period
    Cost

    Depreciation on salespersons cars

    Rent on equipment used in the factory

    Lubricants used for maintenance of machines

    Salaries of finished goods warehouse personnel

    Soap and paper towels used by factory workers at the end of a shift

    Factory supervisors salaries

    Heat, water, and power consumed in the factory

    Materials used for boxing products for shipment overseas (units are not normally
    boxed)

    Advertising costs

    10

    Workers compensation insurance on factory employees

    11

    Depreciation on chairs and tables in the factory lunchroom

    12

    The wages of the receptionist in the administrative offices

    13

    Lease cost of the corporate jet used by the company's executives

    14

    Rent on rooms at a Florida resort for holding the annual sales conference

    15

    Attractively designed box for packaging the companys productbreakfast cereal

    X
    5

    ExtraExerciseonCOSTClassification

    Variable
    Non-manufacturing
    or Fixed
    Cost
    (V or F) Selling
    Administrative

    1.Depreciation,executivejet.

    2.Costsofshippingfinishedgoodsto
    customers.

    3.Woodusedinmanufacturingfurniture.

    4.Salesmanagerssalary
    5.Electricityusedinmanufacturing
    furniture.
    6.Salaryofthesecretarytothecompany
    president.

    7.Aerosolattachmentplacedonaspraycan
    producedbythecompany.

    Manufacturing
    Cost
    Direct

    Indirect

    x
    x
    x
    x

    8.Billingcosts.
    9.Packingsuppliesforshippingproducts
    overseas.

    10.Sandusedinmanufacturingconcrete.

    11.Supervisorssalary,factory.

    12.Executivelifeinsurance.

    13.Salescommissions.

    14.Fringebenefits,assembly-lineworkers.

    15.Advertisingcosts.

    16.Propertytaxesonfinishedgoods
    warehouses.

    17.Lubricantsforproductionequipment.

    x
    x
    x
    x
    x

    Thank You

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