Reflective Simulation: Please indicate for each of the following items whether i

Question

Reflective Simulation: Please indicate for each of the following items whether it falls under direct material direct labor, or factory overhead. 1. If it is a direct material, put "yes" under direct material and "No" under direct labor 2. Tell whether each item belongs to product cost or period cost. If it is a product cost, 3. Indicate whether each item is a variable cost or fixed cost. If it is a variable cost, put and factory overhead and so on and so forth put "yes" under Product cost and "No" under Period cost and vice versa. "yes" under Variable cost and "No" under Fixed cost and vice versa. Just follow the example I gave you below: Direct DirectFactory Product Peried tems Fixed Cos Material Laber Overhead Cost Cost Cost ample: Fabrics to make a shirt es No No es No es No to make a table in a shirt s wages actory manager's salary s salary actory rent EO's salary to executive's secretary indows in a house

Explanation / Answer

ITEMS DM DL FO VC FC PROD C PERI C Fabrics to make a shirt Y N N Y N Y N Wood to make a table Y N N Y N Y N Threads in a shirt Y N N Y N Y N Assembler's wages N Y N Y N Y N Factory manager's salary' N N Y N Y N Y Sales man's salary N N N N Y N Y Sales man's commission N N N N Y Y N Factory rent N N Y N Y N Y CEO's salary N N N N Y N Y Salary to executive's secretary N N N N Y N Y Windows in a house N N N N N N N

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