Homework Answers
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Answer) option B materials used directly in the manufacturing process of the product Factory overhead costs cannot be identified directly with the volume of production whereas materials used direct is a direct cost which can be identified with the units produced and hence is Direct materials and not indirect materials(overhead cost) |
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QUESTION 2 Which of the following is not a factory overhead cost? a. property tax on...
Which of the following is not a factory overhead cost? all of the above insurance on...
Which of the following is not a factory overhead cost? all of the above insurance on the office building supervisors salaries depreciation on factory equipment
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct...
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct labor c. Manufacturing overhead. Write the appropriate letter in the space provided. A Factory machinery lubricants B. Depreciation on manufacturing building D. Wood used in manufacturing furniture C. Assembly line worker's wages Salaries for the night security guards for the factory building Glue, nails and other small parts used in production Insurance on factory machines Factory supervisor's salaries Metal used in manufacturing process -...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classiñed as indirect materials. 3....
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $88,200 Power and light 2,610 Indirect materials 26,100 Total variable overhead cost $116,910 Fixed overhead cost: Supervisory salaries $40,920 Depreciation of plant and equipment 25,720 Insurance...
Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for...
Factory Overhead Cost Variance Report
Tannin Products Inc. prepared the following factory overhead
cost budget for the Trim Department for July of the current year,
during which it expected to use 14,000 hours for production:
Variable overhead costs:
Indirect factory labor
$47,600
Power and light
10,360
Indirect materials
15,400
Total variable overhead cost
$73,360
Fixed overhead costs:
Supervisory salaries
$56,430
Depreciation of plant and equipment
14,850
Insurance and property taxes
27,720
Total fixed overhead cost
99,000
Total factory overhead cost...
15) Which of the following costs is not included in factory overhead? A) Direct materials. B)...
15) Which of the following costs is not included in factory overhead? A) Direct materials. B) Indirect labor. C) Payroll taxes on the wages of factory supervisors. D) Manufacturing supplies used. E) Depreciation of manufacturing equipment. D-3
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press...
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 15,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $121,500 Power and light 6,450 Indirect materials 43,500 Total variable overhead cost $171,450 Fixed overhead cost: Supervisory salaries $60,010 Depreciation of plant and equipment 37,720 Insurance and property taxes 24,000 Total fixed overhead cost 121,730 Total factory...
Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for...
Factory Overhead Cost Variance Report Tannin Products Inc. prepared the following factory overhead cost budget for the Trim Department for July of the current year, during which it expected to use 12,000 hours for production: Variable overhead costs: Indirect factory labor $28,800 Power and light 8,880 Indirect materials 13,200 Total variable overhead cost $ 50,880 Fixed overhead costs: Supervisory salaries $46,510 Depreciation of plant and equipment 12,240 Insurance and property taxes 22,850 Total fixed overhead cost 81,600 Total factory overhead...
I. Match: Determine whether each of the following is classified as a. Direct Materials b. Direct labor c. Manufacturing overhead. Write the appropriate letter in the space provided. A Factory machinery lubricants B. Depreciation on manufacturing building D. Wood used in manufacturing furniture C. Assembly line worker's wages Salaries for the night security guards for the factory building Glue, nails and other small parts used in production Insurance on factory machines Factory supervisor's salaries Metal used in manufacturing process -...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
Finished Goods Inventory Manufacturing Overhead Operating Overhead Prepaid Insurance Prepaid Property Taxes Property Tax Payable Raw Materials Inventory Salaries and Wages Payable Sales Revenue Service Contracts in Process Service Salaries and Wages Supplies Utilities Payable Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classiñed as indirect materials. 3....
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected Department for October of the current year, during which it expected to require 9,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $88,200 Power and light 2,610 Indirect materials 26,100 Total variable overhead cost $116,910 Fixed overhead cost: Supervisory salaries $40,920 Depreciation of plant and equipment 25,720 Insurance...
Factory Overhead Cost Variance Report
Tannin Products Inc. prepared the following factory overhead
cost budget for the Trim Department for July of the current year,
during which it expected to use 14,000 hours for production:
Variable overhead costs:
Indirect factory labor
$47,600
Power and light
10,360
Indirect materials
15,400
Total variable overhead cost
$73,360
Fixed overhead costs:
Supervisory salaries
$56,430
Depreciation of plant and equipment
14,850
Insurance and property taxes
27,720
Total fixed overhead cost
99,000
Total factory overhead cost...
15) Which of the following costs is not included in factory overhead? A) Direct materials. B) Indirect labor. C) Payroll taxes on the wages of factory supervisors. D) Manufacturing supplies used. E) Depreciation of manufacturing equipment. D-3
Flexible Overhead Budget Leno Manufacturing Company prepared the following factory overhead cost budget for the Press Department for October of the current year, during which it expected to require 15,000 hours of productive capacity in the department: Variable overhead cost: Indirect factory labor $121,500 Power and light 6,450 Indirect materials 43,500 Total variable overhead cost $171,450 Fixed overhead cost: Supervisory salaries $60,010 Depreciation of plant and equipment 37,720 Insurance and property taxes 24,000 Total fixed overhead cost 121,730 Total factory...
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