Manufacturing overhead includes all of the following except: select from the below answers -wages paid for...
Manufacturing overhead includes all of the following except: select from the below answers
-wages paid for forklift operators moving direct materials.
-depreciation on salesroom fixtures.
-real estate taxes on factory buildings.
-utilities for factory buildings.
Homework Answers
There are two types of cost : Product cost and prime cost
But in production we used three type of cost like direct material, direct labor and manufacturing overhead
When any cost which is used in manufacturing process but not directly then it would be manufacturing overhead. In other words all indirect cost in manufacturing process are called manufacturing overhead.
So Wages paid for forklift operators moving direct material, real estate taxes on factory building and utilities for factory building are indirect manufacturing cost so all are manufacturing overhead
But depreciation on salesroom fixtures are not manufacturing overhead
So answer is b) Depreciation on salesroom fixtures
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Manufacturing overhead includes all of the following except:
select from the below answers
-wages paid for...
24. Factory overhead costs normally include all of the following except: A. Indirect labor costs. B....
24. Factory overhead costs normally include all of the following except: A. Indirect labor costs. B. Indirect material costs. C. Selling costs. D. Factory machinery oil. E. Factory rent. 25. An opportunity cost is: A. An uncontrollable cost. B. A cost of potential benefit lost. C. A change in the cost of a component. D. A direct cost. E. A sunk cost. 26. Which of the following costs is not included in factory overhead? A. Payroll taxes on the wages...
Select the correct statement below: Multiple Choice Manufacturing overhead includes all costs associated with running the...
Select the correct statement below: Multiple Choice Manufacturing overhead includes all costs associated with running the business, including factory costs. Manufacturing costs are expensed on the income statement when the associated products are sold. None of the answers are correct. Manufacturing costs are capitalized and depreciated using the straight-line method over the useful life. All Manufacturing costs are captured in the Manufacturing Overhead account as a debit.
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...
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....
The following information is available for Wonderway, Inc., for 2018: Factory rent Company advertising Wages paid...
The following information is available for Wonderway, Inc., for 2018: Factory rent Company advertising Wages paid to laborers Depreciation for president's vehicle Indirect production labor Utilities for factory Production supervisor's salary President's salary Direct materials used Sales commissions Factory insurance Depreciation on factory equipment $ 29,600 19,400 83,900 8,160 1,940 30, 600 30,900 61,000 34,900 7,620 13,000 26,700 Required: 1. Calculate the direct labor cost for Wonderway. 2. Calculate the manufacturing overhead cost for Wonderway. 3. Calculate the prime cost...
Select the correct statement below regarding Manufacturing Overhead: Multiple Choice Manufacturing overhead is an expense account...
Select the correct statement below regarding Manufacturing Overhead: Multiple Choice Manufacturing overhead is an expense account for all factory costs that are neither direct materials or direct labor. Manufacturing overhead is always an estimated cost. Manufacturing overhead is a clearing account and is neither shown on the balance sheet or Income statement in published financial statements. Manufacturing overhead is an Inventory account that is shown on the balance sheet.
Yates Manufacturing Company incurs the following manufacturing costs and expenses during the month of May. 1....
Yates Manufacturing Company incurs the following manufacturing costs and expenses during the month of May. 1. Assembly line wages 2. Raw materials used directly in product 3. Depreciation on office equipment 4. Property taxes on factory building 5. Rent on factory building 6. Sales commissions 7. Depreciation on factory equipment 8. Factory utilities 9. Wages for factory maintenance workers 10. Advertising 11. Indirect materials used in production 12. Factory manager's salary Complete the following matrix by placing an X mark...
Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for...
Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,140 1,070 31,000 2,180 580 870 3,520 135 5,040 4,170 225 1,210 1,100 2,130 8,200 2. Determine the total cost for each of the following: a. Direct Materials b. Direct Labor Manufacturing Overhead d. Prime Cost e. Conversion Cost f. Total...
The following information is available for Wonderway, Inc., for 2015: Factory rent Company advertising Wages paid...
The following information is available for Wonderway, Inc., for 2015: Factory rent Company advertising Wages paid tolaborers Depreciation for president's vehicle Indirect production labor Utilities for factory Production supervisors salary President's salary Direct materials used Sales commissions Factory insurance Depreciation on factory equipment 28,200 20,200 84,800 8,050 1,880 32,000 30,600 61,500 35,200 7,580 14,000 27,600 Required: 1. Calculate the direct labor cost for Wonderway. Direct Labor Cost 2. Calculate the manufacturing overhead cost for Wonderway. anufacturing Overhead 3. Calculate the...
$ 3,030 1,030 30,200 2,050 585 815 Factory rent Company advertising Wages paid to assembly workers...
$ 3,030 1,030 30,200 2,050 585 815 Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters 3,500 150 5,090 4,060 270 1,220 1,060 2,080 7,750 2. Determine the total cost for each of the following: b. Direct Materials Direct Labor Manufacturing Overhead Prime Cost d. Conversion Cost Total Product Cost
24. Factory overhead costs normally include all of the following except: A. Indirect labor costs. B. Indirect material costs. C. Selling costs. D. Factory machinery oil. E. Factory rent. 25. An opportunity cost is: A. An uncontrollable cost. B. A cost of potential benefit lost. C. A change in the cost of a component. D. A direct cost. E. A sunk cost. 26. Which of the following costs is not included in factory overhead? A. Payroll taxes on the wages...
Select the correct statement below: Multiple Choice Manufacturing overhead includes all costs associated with running the business, including factory costs. Manufacturing costs are expensed on the income statement when the associated products are sold. None of the answers are correct. Manufacturing costs are capitalized and depreciated using the straight-line method over the useful life. All Manufacturing costs are captured in the Manufacturing Overhead account as a debit.
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...
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....
The following information is available for Wonderway, Inc., for 2018: Factory rent Company advertising Wages paid to laborers Depreciation for president's vehicle Indirect production labor Utilities for factory Production supervisor's salary President's salary Direct materials used Sales commissions Factory insurance Depreciation on factory equipment $ 29,600 19,400 83,900 8,160 1,940 30, 600 30,900 61,000 34,900 7,620 13,000 26,700 Required: 1. Calculate the direct labor cost for Wonderway. 2. Calculate the manufacturing overhead cost for Wonderway. 3. Calculate the prime cost...
Select the correct statement below regarding Manufacturing Overhead: Multiple Choice Manufacturing overhead is an expense account for all factory costs that are neither direct materials or direct labor. Manufacturing overhead is always an estimated cost. Manufacturing overhead is a clearing account and is neither shown on the balance sheet or Income statement in published financial statements. Manufacturing overhead is an Inventory account that is shown on the balance sheet.
Yates Manufacturing Company incurs the following manufacturing costs and expenses during the month of May. 1. Assembly line wages 2. Raw materials used directly in product 3. Depreciation on office equipment 4. Property taxes on factory building 5. Rent on factory building 6. Sales commissions 7. Depreciation on factory equipment 8. Factory utilities 9. Wages for factory maintenance workers 10. Advertising 11. Indirect materials used in production 12. Factory manager's salary Complete the following matrix by placing an X mark...
Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,140 1,070 31,000 2,180 580 870 3,520 135 5,040 4,170 225 1,210 1,100 2,130 8,200 2. Determine the total cost for each of the following: a. Direct Materials b. Direct Labor Manufacturing Overhead d. Prime Cost e. Conversion Cost f. Total...
The following information is available for Wonderway, Inc., for 2015: Factory rent Company advertising Wages paid tolaborers Depreciation for president's vehicle Indirect production labor Utilities for factory Production supervisors salary President's salary Direct materials used Sales commissions Factory insurance Depreciation on factory equipment 28,200 20,200 84,800 8,050 1,880 32,000 30,600 61,500 35,200 7,580 14,000 27,600 Required: 1. Calculate the direct labor cost for Wonderway. Direct Labor Cost 2. Calculate the manufacturing overhead cost for Wonderway. anufacturing Overhead 3. Calculate the...
$ 3,030 1,030 30,200 2,050 585 815 Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters 3,500 150 5,090 4,060 270 1,220 1,060 2,080 7,750 2. Determine the total cost for each of the following: b. Direct Materials Direct Labor Manufacturing Overhead Prime Cost d. Conversion Cost Total Product Cost
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