Homework Answers
Correct Answer:
Option(a) or Touch labour cost is the correct answer because the direct labor cost includes wages paid to the employees that are physically handle the product. They are working on assembly line.
Incorrect answers:
Option (b) Wages of workers on the production floor is an incorrect answer because this not the direct labor cost but it is factory cost.
Option (c) Hourly rate workers on the shop floor is an incorrect answer because these expenses are related to showroom expenses and not the direct cost expenses.
Option (d) Piece rate workers on the shop floor is an incorrect answer because this not the direct cost expenses.but it is related to the showroom expenses.
So correct answer is option (a) Touch labor cost
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11. Direct labor costs include: a. Touch labor costs b. Wages of workers on the production...
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...
Q1) Labor resources include: a)unskilled workers but not skilled workers. b)coffee breaks. c)skilled workers but not...
Q1) Labor resources include: a)unskilled workers but not skilled workers. b)coffee breaks. c)skilled workers but not unskilled workers. d)a robot. e)education and training of workers. Q2)An economy's resources: are limited in quantity. consist of land, labor, capital, and money. are unlimited when we use the latest technology. are unrelated to its standard of living. are always efficiently utilized. Q3) The difference between what can be produced and consumed without specialization and trade and with specialization and trade is called: Q4)A...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of a factory superviso ine workers A)|No B) Yes C) No D) Yes No Yes Yes No OOption A Option B Option O Option D
The following data relate to the direct materials and direct labor costs for the production of...
The following data relate to the direct materials and direct labor costs for the production of 10,000 units of product: Direct Materials Actual: 77,000 pounds at $1.82 $ 140,140 Standard: 75,000 pounds at $1.80 135,000 Direct Labor Actual: 42,500 hours at $19.75 $ 839,375 Standard: 42,000 hours at $20.00 840,000 Determine the: (a) price variance (b) quantity variance (c) DM cost variance (d) rate variance (e) time variance (f) DL cost variance
Anwser all multiple choice Multiple Choice (3 points each) 0 costs include all of the following event A wages of...
Anwser all multiple choice
Multiple Choice (3 points each) 0 costs include all of the following event A wages of production workers B. depreciation on factory equipment C. factory utilities D. direct materials purchased 10) Which of the following is not considered a product cost? A direct materials B. direct labor C. indirect materials D. selling expense 11) Fixed costs are expenses that A. vary in response to changes in activity level B. remain constant on a per-unit basis C....
11. During October, Dorinirl Corporation incurred $65,500 of direct labor costs and $5,100 of indirect labor...
11. During October, Dorinirl Corporation incurred $65,500 of direct labor costs and $5,100 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
2 Direct material Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods...
2 Direct material Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods inventory at year-en Indirect labor: wages Production supervisor's sala Service department costs Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production Administrative costs $2,300,800 97,060 116,000 515,000 115,000 2.5 points 42 47,800 100,a00 95,900 31,000 9,000 55,000 40,000 50,000 15,000 5,000 10,000 ees Rental of office space for sales personnel Sales...
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 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...
Production in Units3,000 Production Costs Direct materials Direct labor Utilities Property taxes Indirect labor Supervisory salaries...
Production in Units3,000 Production Costs Direct materials Direct labor Utilities Property taxes Indirect labor Supervisory salaries 1,900 Maintenance Depreciation S 7,500 18,000 2,100 1,000 4,500 1,100 2,400 Instructions (o) Identify the above costs as variable fixed. or mixed (b) Calculate the expected costs when production is 5,000 units.
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...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of a factory superviso ine workers A)|No B) Yes C) No D) Yes No Yes Yes No OOption A Option B Option O Option D
Anwser all multiple choice
Multiple Choice (3 points each) 0 costs include all of the following event A wages of production workers B. depreciation on factory equipment C. factory utilities D. direct materials purchased 10) Which of the following is not considered a product cost? A direct materials B. direct labor C. indirect materials D. selling expense 11) Fixed costs are expenses that A. vary in response to changes in activity level B. remain constant on a per-unit basis C....
2 Direct material Advertising expense Depreciation on factory building Direct labor: wages Cost of finished goods inventory at year-en Indirect labor: wages Production supervisor's sala Service department costs Direct labor: fringe benefits Indirect labor: fringe benefits Fringe benefits for production supervisor Total overtime premiums paid Cost of idle time: production Administrative costs $2,300,800 97,060 116,000 515,000 115,000 2.5 points 42 47,800 100,a00 95,900 31,000 9,000 55,000 40,000 50,000 15,000 5,000 10,000 ees Rental of office space for sales personnel Sales...
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 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...
Production in Units3,000 Production Costs Direct materials Direct labor Utilities Property taxes Indirect labor Supervisory salaries 1,900 Maintenance Depreciation S 7,500 18,000 2,100 1,000 4,500 1,100 2,400 Instructions (o) Identify the above costs as variable fixed. or mixed (b) Calculate the expected costs when production is 5,000 units.
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