Homework Answers
Answer: Both Depreciation on Production Equipment and Indirect Labor
All the Direct Product cost is Directly Traced to the specific Units, but he Manufacturing overheads are the indirect cost incurred and not possible to Traced to Specific Unit. Depreciation on Production Equipment and Indirect Labor both are Overheads so not Directly Traced to the Specific Unit.
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Manufacturing costs that cannot be traced to specific units of product in a cost-effective manner include:...
Manufacturing costs are costs that related to the manufacture your products but CANNOT be traced directly...
Manufacturing costs are costs that related to the manufacture your products but CANNOT be traced directly to the unit product. As I always said, it included all the costs that related to the factory that incurred in producing the products. Eventhough manufacturing overhead cannot be traced directly to the unit product, why it is still important to be included in the total production cost? Please share your idea here.
Costs that can be easily traced to a specific department are called: direct costs. indirect costs....
Costs that can be easily traced to a specific department are called: direct costs. indirect costs. product costs. manufacturing costs. processing costs.
16) Assigning manufacturing overhead to a specific job is complicated by all of the below except:...
16) Assigning manufacturing overhead to a specific job is complicated by all of the below except: A) Manufacturing overhead is an indirect cost that is either impossible or difficult to trace to a particular job. B) Manufacturing overhead is incurred only to support some jobs. C) Manufacturing overhead consists of both variable and fixed costs. D) The average cost of actual fixed manufacturing overhead expenses will vary depending on how many units are produced in a period. 17) Which of...
27. Costs that can be traced to a specific cost object are A. opportunity costs. B....
27. Costs that can be traced to a specific cost object are A. opportunity costs. B. direct costs. C. indirect costs. D. irrelevant costs. 28. To earn summer money, Joe could mow lawns in his neighborhood, or he could work at a local grocery store. Which of the following is an opportunity cost of mowing lawns? A. Cash paid for gas to run the lawnmower. B. The time spent mowing the lawns. C. The wages he could have earned working...
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to...
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to production. Ο Can be traced to units of product in the same way that direct materials can Ο Cannot be traced to units of product in the same way that direct labor can. Ο Are period costs. Ο Include only fixed costs. Next
Select the correct definition for the following costs. Direct material costs Direct manufacturing-labor costs Manufacturing overhead...
Select the correct definition for the following costs. Direct material costs Direct manufacturing-labor costs Manufacturing overhead costs Prime costs Conversion costs A. All direct manufacturing costs. B. All manufacturing costs other than direct material costs. C. Compensation of all manufacturing labor that can be traced to the cost object. D. Costs of all materials that can be traced to the cost object. E. All manufacturing costs related to the cost object but cannot be traced to the cost object
17. Manufacturing overhead:* (3 Points) includes all selling costs. is easily traced to jobs. should not...
17. Manufacturing overhead:* (3 Points) includes all selling costs. is easily traced to jobs. should not be assigned to individual jobs because it bears no obvious relationship to them. includes direct materials, indirect materials, indirect labor, and factory depreciation is a pool of indirect production costs that must somehow be attached to each unit manufactured. 18. Electricity costs that were incurred by a company's production processes should be debited to: (3 Points) Cash Work-in-Process Inventory Accounts Payable Manufacturing Overhead Utilities...
E19-6 PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are...
E19-6 PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,000 units. The utilities and maintenance costs are mixed costs. The fixed portions of these costs are $300 and $200, respectively. Production in Units 3,000 Production Costs Direct materials $ 7,500 Direct labor 18,000 Utilities 2.100 Property taxes 1,000 Indirect labor 4,500 Supervisory salaries 1,900 Maintenance 1,100 Depreciation 2,400 Instructions (a) Identify the above costs as variable, fixed,...
Grouper Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown...
Grouper Corporation manufactures a single product. Monthly
production costs incurred in the manufacturing process are shown
below for the production of 3,800 units. The utilities and
maintenance costs are mixed costs. The fixed portions of these
costs are $300 and $200, respectively.
Production in Units
3,800
Production Costs
Direct materials
$9,500
Direct labor
30,400
Utilities
1,820
Property taxes
1,500
Indirect labor
5,700
Supervisory salaries
1,900
Maintenance
1,340
Depreciation
3,500
Identify the above costs as variable, fixed, or mixed.
Cost
Direct...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime cost period cost or conversion cost. If the cost is a prime cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH). (Select "Both Prime and Conversion Costs" if both of the categories apply for a particular item.) Product Costs Prime/Conversion/Period cost MOH DM MOH MOH Period Cost Conversion Cost Prime Cost Conversion Cost Conversion Cost Administrative Salaries...
27. Costs that can be traced to a specific cost object are A. opportunity costs. B. direct costs. C. indirect costs. D. irrelevant costs. 28. To earn summer money, Joe could mow lawns in his neighborhood, or he could work at a local grocery store. Which of the following is an opportunity cost of mowing lawns? A. Cash paid for gas to run the lawnmower. B. The time spent mowing the lawns. C. The wages he could have earned working...
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to production. Ο Can be traced to units of product in the same way that direct materials can Ο Cannot be traced to units of product in the same way that direct labor can. Ο Are period costs. Ο Include only fixed costs. Next
17. Manufacturing overhead:* (3 Points) includes all selling costs. is easily traced to jobs. should not be assigned to individual jobs because it bears no obvious relationship to them. includes direct materials, indirect materials, indirect labor, and factory depreciation is a pool of indirect production costs that must somehow be attached to each unit manufactured. 18. Electricity costs that were incurred by a company's production processes should be debited to: (3 Points) Cash Work-in-Process Inventory Accounts Payable Manufacturing Overhead Utilities...
E19-6 PCB Corporation manufactures a single product. Monthly production costs incurred in the manufacturing process are shown below for the production of 3,000 units. The utilities and maintenance costs are mixed costs. The fixed portions of these costs are $300 and $200, respectively. Production in Units 3,000 Production Costs Direct materials $ 7,500 Direct labor 18,000 Utilities 2.100 Property taxes 1,000 Indirect labor 4,500 Supervisory salaries 1,900 Maintenance 1,100 Depreciation 2,400 Instructions (a) Identify the above costs as variable, fixed,...
Grouper Corporation manufactures a single product. Monthly
production costs incurred in the manufacturing process are shown
below for the production of 3,800 units. The utilities and
maintenance costs are mixed costs. The fixed portions of these
costs are $300 and $200, respectively.
Production in Units
3,800
Production Costs
Direct materials
$9,500
Direct labor
30,400
Utilities
1,820
Property taxes
1,500
Indirect labor
5,700
Supervisory salaries
1,900
Maintenance
1,340
Depreciation
3,500
Identify the above costs as variable, fixed, or mixed.
Cost
Direct...
Pinnacle Manufacturing manufactures custom wheel covers. Identify each of the preceding costs as either a prime cost period cost or conversion cost. If the cost is a prime cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH). (Select "Both Prime and Conversion Costs" if both of the categories apply for a particular item.) Product Costs Prime/Conversion/Period cost MOH DM MOH MOH Period Cost Conversion Cost Prime Cost Conversion Cost Conversion Cost Administrative Salaries...
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