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Which one of the following items is typically an example of an indirect cost of a...
1. If the cost object is an airplane, classify each cost as one of the following:...
1.
If the cost object is an airplane, classify each cost as one of
the following: direct material (DM), direct labour (DL),
indirect labour (IL), indirect materials (IM), other
manufacturing overhead (other MOH), or period cost. What is the
total for each type of cost?
2.
Calculate total manufacturing overhead costs.
3.
Calculate total inventoriable product costs.
4.
Calculate total prime costs.
5.
Calculate total conversion costs.
6.
Calculate total period costs.
An aircraft manufacturer incurred the following costs last...
QUESTION 15 Advertising Costs are an example of: O 1. Fixed Manufacturing Cost O 2. Prime...
QUESTION 15 Advertising Costs are an example of: O 1. Fixed Manufacturing Cost O 2. Prime Cost O 3. Variable Product Cost O 4. Fixed Selling Cost QUESTION 5 Wood used in the manufacture of furniture is an example of O 1. Variable and direct cost O 2. Fixed and direct Cost O 3. Variable and indirect cost O 4. Fixed and indirect cost QUESTION3 The following costs are budgeted for Ghana Corporation for next year: Total variable co Total...
1. Which of the following is an example of a possible cost object? a. a product...
1. Which of the following is an example of a possible cost object? a. a product b. a customer c. a department d. All of these could be possible cost objects. 2. Which of the following is a product cost? a. advertising expenditures b. insurance on the office buildings c. depreciation of the salesmen's cars d. depreciation of the production facilities 3. The wages of a production equipment operator would be classified as a. direct materials. b. direct labour c....
2-33 Inventoriable versus period costs. The following items appear as cost of a manufacturing company: A....
2-33 Inventoriable versus period costs. The following items appear as cost of a manufacturing company: A. Depreciation on plant and equipment B. Depreciation on delivery vans C. Insurance on plant and building D. Marketing manager's salary E. Raw materials E Manufacturing overheads G. Electricity bill for the residential quarters H. Production staff wages 1. Identify the following as either an inventoriable product cost or a period cost. 2. Using the following information, compute the cost of goods manufactured: 3. Direct...
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500...
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500 Direct Materials Used 62,000 Factory Utilities 760 Factory Janitorial Costs 3,400 Manufacturing Equipment Depreciation 3,300 Delivery Vehicle Depreciation 3,500 Administrative Wages and Salaries 21,000 Calculate Moreau Manufacturing's total product costs. O A. $152,500 B. $584,200 OC. $159,960 OD. $107,000
c. Chantilly Lace Company manufactured 200,000 units in 2019 and reported the following costs: Indirect manufacturing...
c. Chantilly Lace Company manufactured 200,000 units in 2019 and reported the following costs: Indirect manufacturing labour Supplies Heat, light & electricity Depreciation-plant Depreciation equipment Direct materials, 1/1/19 Finished goods, 1/1/19 Finished goods, 31/12/19 Work-in-process, 1/1/19 Work-in-process, 31/12/19 Leasing costs-plant Direct material purchase Direct materials, 31/12/19 Direct labour $ 270,000.00 $ 67,000.00 S 63,500.00 $ 25,884.00 $ 34,621.00 $ 78,423.00 $ 255,643.00 $ 245,789.00 $ 213,456.00 $ 218,796.00 $ 24,100.00 $ 236,548.00 $ 89,655.00 $ 357,890.00 - Calculate the (i)...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect labor 7,300 4,700 5,900 Direct labor 10,500 4,200 Factory rent Factory utilities Sales salaries expense Office salaries expense 1,200 15,600 8,900 1,200 Indirect materials Product costs are Oa. $29,200 Ob. $24,500 Oc. $35,000 Od. $30,300 AssignmentMain.do?invoker=&takeAssignmentSessionLocator=8inprogress=false Calculator Which of the following is not a characteristic of a job order costing system? Oa. It is best suited for industries that manufacture custom goods. Ob. It...
1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost?
1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost? A) Depreciation of factory equipment. B) Wages of salespersons C) Wages of machine operators D) Wages of machine operators2. The advertising costs incurred by Pepsi to air its commercials during the hockey season can best be described as A) Fixed cost B) Variable cost C) Prime cost D) Conversion cost 3. How would the wages of factory maintenance personnel usually be classified? A) Direct labour and manufacturing overhead B) Indirect labour and manufacturing overhead C) Direct...
(A) Classify each of the following cost as product cost or period cost and indicate whether...
(A) Classify each of the following cost as product cost or period cost and indicate whether the cost is a variable or fixed cost, direct cost or indirect cost Product /Period Fixed Variable Indirect Direct/ a Direct materials b Depreciation on corporate jet for sales force c Lubricants for factory machinery d Sales commissions at 5% of sales e Factory Insurance f Product brochures g Factory utilities h President's salary i Employer paid health insurance premium on direct labor personnel...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
1.
If the cost object is an airplane, classify each cost as one of
the following: direct material (DM), direct labour (DL),
indirect labour (IL), indirect materials (IM), other
manufacturing overhead (other MOH), or period cost. What is the
total for each type of cost?
2.
Calculate total manufacturing overhead costs.
3.
Calculate total inventoriable product costs.
4.
Calculate total prime costs.
5.
Calculate total conversion costs.
6.
Calculate total period costs.
An aircraft manufacturer incurred the following costs last...
QUESTION 15 Advertising Costs are an example of: O 1. Fixed Manufacturing Cost O 2. Prime Cost O 3. Variable Product Cost O 4. Fixed Selling Cost QUESTION 5 Wood used in the manufacture of furniture is an example of O 1. Variable and direct cost O 2. Fixed and direct Cost O 3. Variable and indirect cost O 4. Fixed and indirect cost QUESTION3 The following costs are budgeted for Ghana Corporation for next year: Total variable co Total...
1. Which of the following is an example of a possible cost object? a. a product b. a customer c. a department d. All of these could be possible cost objects. 2. Which of the following is a product cost? a. advertising expenditures b. insurance on the office buildings c. depreciation of the salesmen's cars d. depreciation of the production facilities 3. The wages of a production equipment operator would be classified as a. direct materials. b. direct labour c....
2-33 Inventoriable versus period costs. The following items appear as cost of a manufacturing company: A. Depreciation on plant and equipment B. Depreciation on delivery vans C. Insurance on plant and building D. Marketing manager's salary E. Raw materials E Manufacturing overheads G. Electricity bill for the residential quarters H. Production staff wages 1. Identify the following as either an inventoriable product cost or a period cost. 2. Using the following information, compute the cost of goods manufactured: 3. Direct...
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500 Direct Materials Used 62,000 Factory Utilities 760 Factory Janitorial Costs 3,400 Manufacturing Equipment Depreciation 3,300 Delivery Vehicle Depreciation 3,500 Administrative Wages and Salaries 21,000 Calculate Moreau Manufacturing's total product costs. O A. $152,500 B. $584,200 OC. $159,960 OD. $107,000
c. Chantilly Lace Company manufactured 200,000 units in 2019 and reported the following costs: Indirect manufacturing labour Supplies Heat, light & electricity Depreciation-plant Depreciation equipment Direct materials, 1/1/19 Finished goods, 1/1/19 Finished goods, 31/12/19 Work-in-process, 1/1/19 Work-in-process, 31/12/19 Leasing costs-plant Direct material purchase Direct materials, 31/12/19 Direct labour $ 270,000.00 $ 67,000.00 S 63,500.00 $ 25,884.00 $ 34,621.00 $ 78,423.00 $ 255,643.00 $ 245,789.00 $ 213,456.00 $ 218,796.00 $ 24,100.00 $ 236,548.00 $ 89,655.00 $ 357,890.00 - Calculate the (i)...
Darwin Company reports the following information: Sales $76,500 Direct materials used Depreciation on factory equipment Indirect labor 7,300 4,700 5,900 Direct labor 10,500 4,200 Factory rent Factory utilities Sales salaries expense Office salaries expense 1,200 15,600 8,900 1,200 Indirect materials Product costs are Oa. $29,200 Ob. $24,500 Oc. $35,000 Od. $30,300 AssignmentMain.do?invoker=&takeAssignmentSessionLocator=8inprogress=false Calculator Which of the following is not a characteristic of a job order costing system? Oa. It is best suited for industries that manufacture custom goods. Ob. It...
1. For a manufacturing company, which of the following is an example of a period cost rather than a product cost? A) Depreciation of factory equipment. B) Wages of salespersons C) Wages of machine operators D) Wages of machine operators2. The advertising costs incurred by Pepsi to air its commercials during the hockey season can best be described as A) Fixed cost B) Variable cost C) Prime cost D) Conversion cost 3. How would the wages of factory maintenance personnel usually be classified? A) Direct labour and manufacturing overhead B) Indirect labour and manufacturing overhead C) Direct...
(A) Classify each of the following cost as product cost or period cost and indicate whether the cost is a variable or fixed cost, direct cost or indirect cost Product /Period Fixed Variable Indirect Direct/ a Direct materials b Depreciation on corporate jet for sales force c Lubricants for factory machinery d Sales commissions at 5% of sales e Factory Insurance f Product brochures g Factory utilities h President's salary i Employer paid health insurance premium on direct labor personnel...
2-28 Computing cost of goods manufactured and cost of goods sold. The following are account be NINTRODUCTION TO COST TERMS AND PURPOSES R 200 800 ances relating to 2019 (in thousands): Property tax on plant building Marketing, distribution, and customer-service costs Finished goods inventory, January 1, 2019 Plant utilities Work-in-process inventory, December 31, 2019 Depreciation of plant building General and administrative costs (nonplant) Direct materials used $ 4,200 44,400 37,400 20,400 32,200 14,700 51,600 106,800 44,800 14,700 19,200 25,000 38,400...
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