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Direct & indirect cost classification, fixed & Variable cost classification.
Whippany manufacturing wants to estimate costs for each product they produce at its Troy plant. The Troy plant produces three products at this plant, and runs two flexible assembly lines. Each assembly line can produce all three products.
Required:
a) Classify each of the following costs as either direct or indirect for each product
b) Classify each of the following costs as either fixed or variable with respect to the number of units produced of each product.
Direct
Indirect
Fixed
Variable
Assembly line labor wages
______
Plant manager's wages
Depreciation on the assembly line equipment
Component parts for the product
Wages of security personnel for the factory
Compute the amount of fixed manufacturing overhead that will be included in ending inventory under full costing and reconcile it to the difference between incomes computed under variable and full costing.
Evaluate the price and usage variances for direct labor and direct material and compute the material variances
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