In a one (1) page response, consider a company that is in the business of producing canned fruits for grocery stores. (It is not in the business of growing the fruit.) In a one (1) page response, list the items that would likely be included as this company's direct materials, direct labor, indirect materials, and other overhead.

Instruction: Identify the following: 1. The amount which represents cost incurred to produce goods which are not yet completed. 2. The cost of services of employees who work directly on the product. _3. The cost of goods already completed and held for sale. 4. Yet-to-be-used materials. 5. Non-manufacturing costs incurred by a manufacturing firm in its operations. _6. Alternatively called Factory Overhead or simply Overhead. 7. Direct Materials plus direct labor plus factory overhead. 8. Goods acquired for production but not yet requisitioned to be put into process. 9. Prime Costs plus Conversion Costs. 10. Direct Labor plus Factory Burden.\ 11. The basic document to accumulate the cost of each order. 12. System that collects the actual amounts of product costs. 13. System that is often used by furniture manufacturers who produces variety of products, because such producers need to keep track of each specific order to ensure correct assignment of costs. 14. Rate used in accumulation of…

Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a.  Plant manager salary for the Iowa City, Iowa, plant   b.  Maintenance supplies   c.  Salary of process engineers   d.  Wages paid to Packaging Department employees in the Bear River City, Utah, paper products plant   e.  Scents and fragrances used in making soaps and detergents   f.  Wages of production line employees at the Pineville, Louisiana, soap and detergent plant   g.  Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant   h.  Packaging materials   i.  Resins for body wash products   j.  Depreciation on the Auburn, Maine, manufacturing plant

Classify the following costs of this new product as direct materials, direct labor, manufacturing overhead, selling, or administrative 1. President's salary. 2. Packages used to hold the skin wipes. 3. Cleaning materials used to clean the skin wipe packages. 4. Wages of workers who package the product. 5. Cost of advertising the product. 6. The salary of the supervisor of the workers who package the product. 7. Cost accountant's salary (the accountant works in the factory). 8. Cost of a market research survey. 9. Sales commissions paid as a percent of sales. 10. Depreciation of administrative office building. Problem B Classify the costs listed in the previous problem as either product costs or period costs.