acc 560 managerial accounting 494867

Homework Chapter 01  Exercise 1-5 Ikerd Company is a manufacturer of personal computers. Various costs and expenses associated with its operations are as follows. The company intends to classify these costs and expenses into the following categories: (a) direct materials, (b) direct labor, (c) manufacturing overhead, and (d) period costs. For each item, indicate the cost category to which it belongs. Item Category 1-Property taxes on the factory building. 2-Production superintendents’ salaries. 3-Memory boards and chips used in assembling computers. 4-Depreciation on the factory equipment. 5-Salaries for assembly-line quality control inspectors. 6-Sales commissions paid to sell personal computers.- 7-Electrical components used in assembling computers 8-Wages of workers assembling personal computers. 9-Soldering materials used on factory assembly lines. 10-Salaries for the night security guards for the factory building. Exercise 1-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $45,600 at December 31. Compute cost of goods manufactured. Exercise 1-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense…