西方基础会计学过程稿.pptVIP

For Practice: PE 18-3A, PE 18-3B 32 Follow My Example 18-3 18-2 Identify the following costs as a (a) prime cost, (b) conversion cost, or (c) both for a baseball glove manufacturer. _______________ Leather used to make a baseball glove _______________ Coolants for machines that sew baseball gloves _______________ Wages of assembly line employees _______________ Ink used to print a player’s autograph on the baseball glove (a) Prime cost (b) Conversion cost (c) Both (b) Conversion cost Left click mouse for answers. 0 18-2 Product Costs Product costs consist of the three elements of manufacturing cost: direct materials, direct labor, and factory overhead. 0 34 Factory Overhead Direct Materials Direct Labor Product Costs The cost of materials that are an integral part of the product. The cost of labor directly involved in converting material into the product. Manufacturing costs other than direct materials and direct labor. 18-2 0 18-2 Period costs are generally classified into two categories: Period Costs Selling expenses are incurred in marketing the product and delivering the sold product to the customer. Administrative expenses are incurred in the administration of the business. 0 36 18-2 (Continued) 0 37 18-2 (Concluded) 0 38 18-2 Product Costs and Period Costs 0 Example Exercise 18-4 Identify the following costs as a (a) product cost, or (b) period cost for a baseball glove manufacturer. 18-2 39 _______________ Leather used to make a baseball glove _______________ Cost of endorsement from a professional baseball player _______________ Office supplies used at the company headquarters _______________ Ink used to print a player’s autograph on the baseball glove 0 For Practice: PE 18-4A, PE 18-4B 40 Follow My Example 18-4 18-2 Identify the following costs as a (a) product cost, or (b) period cost for a baseball glove manufacturer. (a) Product cost (b) Period cost (b) Period cost (a) Product cost _______________ Leather used to make a b