Homework Answers
Correct Option B i.e. Indirect Material
Reason: Indirect material is a part of factory overhead. And as we know factory overhead are not entered in job order cost sheet on actual basis rather overhead applied is entered using some overhead rate.
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Job order cost sheets accumulate all of the following costs except for: factory overhead applied indirect...
Process and job order cost systems are similar in all of the following ways except a....
Process and job order cost systems are similar in all of the following ways except a. both accumulate product costs-direct materials, direct labor, and factory overhead b. both use job order cost cards c. both allocate product costs to units produced O d. both maintain perpetual inventories
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...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $173,810. Estimated direct labor cost was $441,210 for 19,100 hours. Actual costs for the most recent month are summarized here: Total Cost $44,122 Item Description Direct labor (1,910 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $169,260. Estimated direct labor cost was $453,180 for 18,200 hours. Actual costs for the most recent month are summarized here: Total Cost $ 45,319 Item Description Direct labor (1,820 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $171,990. Estimated direct labor cost was $455,490 for 18,900 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,890 hours) $ 45,550 Indirect costs Indirect labor 2,550 Indirect materials 3,360 Factory rent 3,390 Factory supervision 4,850 Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $177,510. Estimated direct labor cost was $435,540 for 18,300 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,830 hours) $ 43,555 Indirect costs Indirect labor 2,420 Indirect materials 3,420 Factory rent 3,390 Factory supervision 4,770 Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $175,570. Estimated direct labor cost was $448,880 for 18,100 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,810 hours) $ 44,889 Indirect costs Indirect labor 2,590 Indirect materials 3,420 Factory rent 3,240 Factory supervision 4,750 Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $173,880. Estimated direct labor cost was $438,480 for 18,900 hours. Actual costs for the most recent month are summarized here: Total Cost $43,849 Item Description Direct labor (1,890 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory...
Labels Actual factory overhead Depreciation of equipment Direct labor used Direct materials used Factory overhead applied...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $175,570. Estimated direct labor cost was $448,880 for 18,100 hours. Actual costs for the most recent month are summarized here: Item Description Total Cost Direct labor (1,810 hours) $ 44,889 Indirect costs Indirect labor 2,590 Indirect materials 3,420 Factory rent 3,240 Factory supervision 4,750 Factory...
Process and job order cost systems are similar in all of the following ways except a. both accumulate product costs-direct materials, direct labor, and factory overhead b. both use job order cost cards c. both allocate product costs to units produced O d. both maintain perpetual inventories
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...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $173,810. Estimated direct labor cost was $441,210 for 19,100 hours. Actual costs for the most recent month are summarized here: Total Cost $44,122 Item Description Direct labor (1,910 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $169,260. Estimated direct labor cost was $453,180 for 18,200 hours. Actual costs for the most recent month are summarized here: Total Cost $ 45,319 Item Description Direct labor (1,820 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work...
Verizox Company uses a job order cost system with manufacturing overhead applied to products based on direct labor hours. At the beginning of the most recent year, the company estimated its manufacturing overhead cost at $173,880. Estimated direct labor cost was $438,480 for 18,900 hours. Actual costs for the most recent month are summarized here: Total Cost $43,849 Item Description Direct labor (1,890 hours) Indirect costs Indirect labor Indirect materials Factory rent Factory supervision Factory depreciation Factory janitorial work Factory...
Labels
Actual factory overhead
Depreciation of equipment
Direct labor used
Direct materials used
Factory overhead applied
Factory rent
Factory utilities
Indirect labor
Indirect materials
Required information (The following information applies to the questions displayed below. Marcelino Co.'s March 31 inventory of raw materials is $84,000. Raw materials purchases in April are $550,000, and factory payroll cost in April is $382,000. Overhead costs incurred in April are: indirect materials, $58,000; indirect labor, $27,000; factory rent, $39,000; factory utilities, $24,000; and factory...
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