I need help filling in the blanks
Georgia Pacific, a manufacturer, incurs the following...
I need help filling in the blanks
Georgia Pacific, a manufacturer, incurs the following costs. (1) Classify each cost as either a product direct or indirect or a period cost. If a product cost, identify it as direct materials, direct labor, or factory overhead, and then as a prime and/or conversion cost. (2) Classify each product cost as either a direct cost or an indirect cost using the product as the cost object.
Cost by Traceability
Period or Product
Direct material, Direct labor, or Factory Overhead
Prime or Conversion
1. Factory utilities
Product-Direct
Overhead
Conversion
2. Advertising
Period cost
3. Amortization of patents on factory machine
Product-Direct
Conversion
4. State and federal income taxes
Period cost
5. Office supplies used
Period cost
6. Insurance on factory building
Product-Indirect
Conversion
7. Wages to assembly workers
Product-Indirect
Direct labor
Prime
Answers: 3
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