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ACCA 310 CHAP 1 COST SHEET ASSIGNMENT 1. Complete the following chart by placing an “X” under the applicable column headings. Classify each cost as a fixed cost or a variable cost and as either a direct or indirect product cost or a period cost. Item Cost Behavior Product Costs Period Cost Fixed Variable Direct Indirect Glue used in furniture X X Cost of workers sanding a product X X Wages of factory custodian X X Grapes used in jelly X X Rent of factory equipment X X Factory insurance X X Controller's salary X X Factory washroom supplies X X Sugar in candy products X X Wages of a machinist X X Office supplies used X X 2. Identify the document needed to support each of the following activities in a manufacturing organization: _Purchase Order _________ a. Placing an order for direct materials with a supplier ___Time Card _______ b. Recording direct labor time at the beginning and end of each work shift _Materials Requisitions _________ c. Issuing direct materials into production _Job Order Cost Card _________ d. Recording the costs of a specific job requiring direct
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  • Fall '15

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