Listed below are product costs for production of footballs. Classify each cost as either variable (V) orfixed (F). Insurance premium on building.
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Listed below are product costs for production of footballs. Classify each cost as either variable (V) or
fixed (F). Insurance premium on building.
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- Insurance expense incurred on a factory building would be treated as a a.period cost b.selling cost c.direct cost d.product costInsurance expense incurred on a factory building would be treated as a Group of answer choices selling cost direct cost period cost product costThe topic is about standerd cost in cost accounting cost: Is it possible to measure the delivery of a service (e.g. a mortgage application) against a set standard? Justify with an example how delivery of service can be measured.
- The cost of fire insurance for a manufacturing plant is generally considered to be a: period cost. variable cost. product cost. prime cost.Identify appropriate cost drivers for these cost pools: A. material cost pool B. machine cost pooi C. painting cost pool D. maintenance cost poolIdentify each of the following costs as either a product cost (PROD) or a period cost (PER). Interest expense.
- В.1 Birdie Limited is a manufacturing company producing a variety of golf clubs. It operates from one factory that is geographically separated from its head office. The components for the clubs are assembled in the assembling department; they are then passed through to the finishing department where they are painted and packed. There are three service cost centres: administration, stores, and manufacturing support. The following costs were collected for the year to 31 May 2021: Department Allocated cost centre overhead costs (£,000) 225 Number of employees 67 Assembling Finishing Administration 60 134 300 89 120 84 Stores 17 Manufacturing support 34 Additional information: The allocated cost centre overhead costs are all considered to be indirect costs as far as specific units are concerned. During the year to 31 May 2021, 208,000 machine hours were worked in the assembling department, and 270,000 direct labour hours in the finishing department. During the year to 31 May 2021, the…Fixed costs include all of the following except: A. Rent B. Salaries C. Wages D. Depreciation expenseDefine cost of equipment.