Posted: June 15th, 2022

DeVry Chicago ACCT 346 ACCT346 Week 1 Homework Assignment

ACCT346 Week 1 Homework AssignmentNote that there are 5 PARTS unfold over three PAGES for this homework task.Half 1: Assume we’re working an organization that produces and sells baked items to stores.The company’s infrastructure consists of a leased manufacturing facility (manufacturing) facility the place all of thebaking is finished, and there are gross sales and administrative places of work situated in a separate buildingleased at one other location. Determine whether or not every of the next expense gadgets for thiscompany can be categorized as a PRODUCT COST or a PERIOD COST by inserting an “X” in theappropriate field for every merchandise. Word that every kind of expense is both a product value or aperiod value, however not each. The primary merchandise has already been accomplished for you.Expense ItemFactory insuranceCompany president’s salaryBakers’ wagesDepreciation expense on bake ovensFactory utilitiesFactory leaseAdvertising costsFactory supervisors’ salariesSales commissionsFlour utilized in baking breadPRODUCT COSTXXXXXXPERIOD COSTXXXPart 2: For a similar firm and state of affairs described in Half 1 above, establish whether or not every ofthe following expense gadgets for this firm can be categorized as a DIRECT COST or anINDIRECT COST by inserting an “X” within the applicable field for every merchandise. Word that every kind ofexpense is both a direct value or an oblique value, however not each. The primary merchandise has already beencompleted for you.Expense ItemFactory insuranceBakers’ wagesEggs used for bakingDepreciation expense on bake ovensFactory leaseCleaning supplies for bake ovensFactory utilitiesFactory supervisors’ salariesLubricant for manufacturing facility equipmentFlour utilized in baking breadDIRECT COSTXXXXINDIRECT COSTXXXXXXPart three: For a similar firm and state of affairs described in Half 1 above, establish whether or not every ofthe following expense gadgets for this firm can be categorized as a VARIABLE COST or aFIXED COST by inserting an “X” within the applicable field for every merchandise. Whereas a few these itemsmight arguably be thought of “mixed” prices based mostly on the state of affairs, please simply select eithervariable value or fastened value for every. The primary merchandise has already been accomplished for you.Expense ItemFlour utilized in baking breadFactory supervisors’ salaries(word that these workers are SALARIED)Manufacturing facility leaseFactory insuranceFactory exterior garden care upkeep contractSales commissionsBakers’ wages(word that these workers are PART-TIME HOURLY)Depreciation expense on bake ovens(assume annual straight-line depreciation is utilized)Promoting prices(assume these bills are budgeted yearly)Manufacturing facility utilities(this can be a difficult one…simply give it your greatest shot)VARIABLE COSTXFIXED COSTPart four: For a similar firm and state of affairs described in Half 1 above, categorize every expensebelow as direct materials, direct labor, oblique materials, oblique labor, different manufacturingoverhead or a interval value by inserting an “X” within the applicable field for every merchandise. As soon as once more,word that just one choice will apply to every merchandise. The primary merchandise has already been completedfor you.Expense ItemFlour utilized in baking breadFactory supervisors’ salariesFactory leaseFactory insuranceFactory custodians’ wagesSales commissionsBakers’ wagesDepreciation expense on bakeovensCompany president’s salaryFactory utilitiesAccounting division salariesDepreciation expense onadministrative workplace equipmentLubricant for manufacturing facility equipmentDirectMaterialXDirectLaborIndirectMaterialIndirectLaborOtherManufacturingOverheadPeriodCostsPart 5: If we have been to calculate every of the 4 value class groupings proven within the firstcolumn under (e.g., complete manufacturing overhead), which of the varied expense gadgets listedacross the highest of the desk would must be included? Place an “X” in every expense merchandise thatwould must be included in calculating the sum for every separate value class proven, and beaware it’s seemingly that multiple expense merchandise will apply in every calculation. Word that we arenot really calculating any values, however are as a substitute merely exhibiting the elements for eachaggregated value class listed. The primary value class (complete manufacturing overhead) hasalready been accomplished for you.Value CategoryTotal manufacturing overheadTotal product costsTotal prime costsTotal conversion costsDirectMaterialDirectLaborIndirectMaterialIndirectLaborXXOtherManufacturingOverheadXPeriodCosts

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