Homework Answers
The correct answer is "D" : Not essential costs to manufacturing a product
Reason : First of all let's understand what do we mean by "Non-Value added activities" : A non-value added is basically an activity or an action which is carried out which does not increases the perceived value or worth of the product to the customer. Every business tries to eliminate such costs which also helps in cost reduction.
Any activity carried out for manufacturing a product can never be a non-value added activity as if it is required to manufacture the product, it means that it adds value for the customer. Hence any activity/costs incurred which is not essential for manufacturing a product will be non-value added activity.
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Question 17 Non value added activities are a. Direct material only b. Direct labor only c....
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c)...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c) Direct labor & overhead d) Direct material & indirect material e) Direct Labor & period costs Units Use the following to answer questions # 2.3.4 The information below was obtained from the records of the first processing department of Christine Corporation for the month of July. The company uses the weighted average method in its process costing system. Labor and Overhead Percent Completed Work...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c)...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c) Direct labor & overhead d) Direct material & indirect material e) Direct labor & period costs Use the following to answer questions. 2.3.4 The information below was obtained from the records of the first processine derment of Christine Corporation for the month of July. The company uses the weighted-average method in its process costing system Labor and Overhead Ulnits Percent Completed Work in process...
Need help with question 17 & 18! c. Direct materials and direct manufacturing labor are included...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
OD QUESTION 16 Under variable costing, a unit of product includes which costs? A. direct material,...
OD QUESTION 16 Under variable costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and fixed manufacturing overhead D. direct material, direct labor, and all variable manufacturing overhead
Explanation not necessary Under absorption costing, a unit of product includes which costs? A. direct material, dir...
Explanation not necessary Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and fixed manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and all variable manufacturing overhead D. direct material, direct labor, and manufacturing overhead During production, how are the costs in process costing accumulated? A to cost of goods sold B. to each individual department C. to each individual product D. to manufacturing overhead In...
1., Which of the following statements is(are) true about non value added activities? Non value added activities are oft...
1., Which of the following statements is(are) true about non value added activities? Non value added activities are often unnecessary and dispensable Non value added activities maybe necessary but are being performed in an inefficient and improvable manner Non value added activities can be eliminated without deterioration of product quality, performance or perceived value A, b, and c A and b 2. Which of the following is least likely to be classified as a facility level activity in an activity-based...
QUESTION 12 Manufacturing costs include direct materials and direct labor only. direct materials and manufacturing overhead...
QUESTION 12 Manufacturing costs include direct materials and direct labor only. direct materials and manufacturing overhead only. direct labor and manufacturing overhead only. direct materials, direct labor, and manufacturing overhead.
Value- and Non-Value Added Cost Reporting Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products,...
Value- and Non-Value Added Cost Reporting Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 2014 (actual price per unit of the activity driver is assumed to be equal to the standard price): Activity Activity Driver SQ AQ SP Receiving Receiving orders 13,600 28,500 $24 Assembly Labor hours 117,000 142,500 1 7...
Conversion costs consist of a. direct materials costs and direct labor costs. b. direct labor costs...
Conversion costs consist of a. direct materials costs and direct labor costs. b. direct labor costs and overhead costs. c. direct materials costs and overhead costs. d. direct labor costs and indirect labor costs. The three elements of product costs are a. direct materials, work in process, and overhead. b. direct materials, work in process, and finished goods. c. direct materials, direct labor, and overhead. d. direct materials, direct labor, and period costs. 7. Which of the following costs is...
Value- and Non-Value-Added Cost Reporting Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and...
Value- and Non-Value-Added Cost Reporting Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 20x1 (actual price per unit of the activity driver is assumed to be equal to the standard price): Activity Activity Driver SQ AQ SP Receiving Receiving orders 12,000 18,000 $21 Assembly Labor hours 75,000 90,000 15 Expediting Orders...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c) Direct labor & overhead d) Direct material & indirect material e) Direct Labor & period costs Units Use the following to answer questions # 2.3.4 The information below was obtained from the records of the first processing department of Christine Corporation for the month of July. The company uses the weighted average method in its process costing system. Labor and Overhead Percent Completed Work...
Conversion costs consist of a) Direct material & direct labor b) Direct material & overhead c) Direct labor & overhead d) Direct material & indirect material e) Direct labor & period costs Use the following to answer questions. 2.3.4 The information below was obtained from the records of the first processine derment of Christine Corporation for the month of July. The company uses the weighted-average method in its process costing system Labor and Overhead Ulnits Percent Completed Work in process...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
OD QUESTION 16 Under variable costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and fixed manufacturing overhead D. direct material, direct labor, and all variable manufacturing overhead
Explanation not necessary Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and fixed manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and all variable manufacturing overhead D. direct material, direct labor, and manufacturing overhead During production, how are the costs in process costing accumulated? A to cost of goods sold B. to each individual department C. to each individual product D. to manufacturing overhead In...
QUESTION 12 Manufacturing costs include direct materials and direct labor only. direct materials and manufacturing overhead only. direct labor and manufacturing overhead only. direct materials, direct labor, and manufacturing overhead.
Value- and Non-Value Added Cost Reporting Cicleta Manufacturing has four activities: receiving materials, assembly, expediting products, and storing goods. Receiving and assembly are necessary activities; expediting and storing goods are unnecessary. The following data pertain to the four activities for the year ending 2014 (actual price per unit of the activity driver is assumed to be equal to the standard price): Activity Activity Driver SQ AQ SP Receiving Receiving orders 13,600 28,500 $24 Assembly Labor hours 117,000 142,500 1 7...
Conversion costs consist of a. direct materials costs and direct labor costs. b. direct labor costs and overhead costs. c. direct materials costs and overhead costs. d. direct labor costs and indirect labor costs. The three elements of product costs are a. direct materials, work in process, and overhead. b. direct materials, work in process, and finished goods. c. direct materials, direct labor, and overhead. d. direct materials, direct labor, and period costs. 7. Which of the following costs is...
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