The cost of direct materials is classified as a:
Conversion cost | Prime cost | |
A) | No | No |
B) | Yes | No |
C) | No | Yes |
D) | Yes | Yes |
Choice D
Choice A
Choice C
Choice B
Prime cost=Direct materials+Direct labor
whereas
Conversion cost=Direct labor+Manufacturing overhead
Hence cost of direct materials is classified as a Prime cost
Hence the correct option is:
Choice C
The cost of direct materials is classified as a: Conversion cost Prime cost A) No No...
the cost of direct materials are classified as: Coversion Manufacturing Prime Cost Cost Cost A) Yes. Yes. Yes B) No. No. No C). Yes. Yes. No D) No. Yes. Yes
The cost of carrots used in the production of carrot soup are classified as: Conversion Cost Prime Cost Product Cost Choice A No Yes Yes Choice B Yes No Choice C Yes Choice D Yes No Yes No Yes Yes Variable Cost No No Yes Yes O A. Choice A OB. Choice D O C. Choice B OD. Choice C
Direct materials are a: a) Manufacturing cost? O Yes O No b) Prime cost? Yes O No c) Conversion cost? Yes No
2.Which of the following costs is both a prime cost and a conversion cost? direct materials direct labor manufacturing overhead administrative costs
The cost of direct materials cost is classified as a Period cost Product cost A) Yes :1) |No C) Yes Yes RJC) No Yes |No )No OOption A Option B Option O Option D
Which of the following would be classified as a prime cost? O A. cost of direct materials used B. salary of sales personnel O C. depreciation on factory equipment OD. depreciation on office furniture
The cost of direct materials is classified as a: Product cost Yes Period cost Yes No Yes No NO No Yes O Option O Option D O Option A O Option B
The cost of direct materials is classified as a: Product cost Yes Period cost Yes No Yes No NO No Yes O Option O Option D O Option A O Option B
Prime Cost and Conversion Cost Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $24,000 were put into production. Direct labor of $28,000 (10 workers x 100 hours x $28 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 4,400 hockey sticks. 1. Calculate the total prime cost for last week. 2. Calculate the per-unit prime cost. Round your answer to the nearest cent....
1. Which of the following costs are conversion costs? a. direct materials cost and factory overhead cost b. direct labor cost and factory overhead cost c. factory overhead cost d. direct materials cost and direct labor cost 2. Given the following data: Work in process, beginning $14,000 Work in process, ending 20,000 Direct labor costs 4,000 Cost of goods manufactured 8,000 Factory overhead 8,000 Direct materials used is a. $2,000 b. $4,000 c. $14,000 d. $8,000 3. Prime...