Problem 2-45 Cost Classifications (LO 2-5,2-8, 2-9) Cape Cod Shirt Shop manufactures T-shirts and decorates them with cu

[answerhappygod]

Problem 2 45 Cost Classifications Lo 2 5 2 8 2 9 Cape Cod Shirt Shop Manufactures T Shirts And Decorates Them With Cu 1 (97.08 KiB) Viewed 46 times

I keep trying o submit and i am missing the full answer
Problem 2-45 Cost Classifications (LO 2-5,2-8, 2-9) Cape Cod Shirt Shop manufactures T-shirts and decorates them with custom designs for retail sale on the premises. Several costs incurred by the company are listed below. For each cost, indicate which of the following classifications best describe the cost. More than one classification may apply to the same cost Item. For purposes of classifying costs as fixed or variable, assess cost behavior relative to the output quantity of finished T-shirts. (If your answer is "No" leave the cells blank.) Period or Product? Administrative? Selling? Manufacturing Research and Development? Direct material, Direct labor, or Manufacturing overhead? Direct material Direct labor Yes Yes Yes Product Product Period Product Product Product Period Product Yes Yes Manufacturing overhead Manufacturing overhead Direct labor Yes [ Yes Yes Manufacturing overhead Variable or Cost Items Fixed? ? 1. Cost of fabric used in T-shirts - Variable 2. Wages of shirtmakers. . Variable 3 3. Cost of new sign in front of retail T-shirt shop Fixed 4. Wages of the employee who repairs the firm's sewing machines. Fixed 5. Cost of electricity used in the sewing department. Variable 6. Wages of T-shirt designers and painters. Variable 7. Wages of sales personnel. Fixed 8. Depreciation on sewing machines. Fixed Rent on the building. Part of the building's first floor is used to make and 9. 9 paint T-shirts. Part of it is used for the retail sales shop. The second floor is used for administrative offices and storage of raw material and finished Fixed goods. 10. Cost of daily advertisements in local media. Fixed 11. , T Wages of designers who experiment with new fabrics, paints, and T-shirt designs. Fixed 12. Cost of hiring a pilot to fly along the beach pulling a banner advertising Fixed the shop 13. Salary of the owner's secretary Fixed 14. Cost of repairing the gas furnace. Fixed 15. Cost of insurance for the production employees Fixed Both Period and Product Yes Yes Yes Manufacturing overticad Period Yes Period Yes Period Yes Yes Period Both Period and Product Product Yes Yes Yes Yes Manufacturing overhead Manufacturing overhead