Answer - The Correct answer is A) Direct Labour Cost.
Product costs are the costs Incurred by an Organisation for manufacturing a Product.
Product costs include Labour, Raw material , Consumables etc
Which of the following is a product cost? O Direct labor cost 0 Opportunity cost Selling...
4) Product (or manufacturing) costs consists of a) Direct materials, direct labor, and selling costs b) Direct materials, direct labor, manufacturing overhead, and operating expenses c) Administrative cost and conversion cost d) Selling and administrative costs
Which of the following statements is false? a) a misclassification of a direct labor cost as an indirect labor cost will understate the total manufacturing cost b) a misclassification of a period cost as a product cost will overstate the unit cost of a product a c) a misclassification of a selling expense as a general and administrative expense will have no effect on the operating income d) a misclassification of a factory overhead cost as an operating cost will...
Assuming that direct labor is a variable cost, product costs under variable costing include only: direct materials and direct labor direct materials, direct labor and variable manufacturing overhead direct materials, direct labor, variable manufacturing overhead, and variable selling and administrative expenses direct materials, variable manufacturing overhead, and variable selling and administrative expenses
Which of the following is a period cost? A. direct labor cost B. direct materials cost C. manufacturing overhead D. administrative cost
The following costs were incurred in May. Direct materials Direct labor Manufacturing overhead Selling expenses Administrative expense $39,100 $30,400 $18,000 $14,500 $34,700 01:03:56 Prime costs during the month totaled: Multiple Choice 0 O $69.500 0 $48.400 0 $36.700 0 $27500
Elfalan Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 45,000 units per month is as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling & administrative expense Fixed selling & administrative expense Per Unit $45.18 $ 8.60 $ 1.60 $18.30 $ 2.80 $13.00 The normal selling price of the product is $96.10 per unit. An order has been received from...
Cost per Period Cost per Unit $7.35 $4.30 $1.60 Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense $26,000 $0.80 $0.90 $ 6,000 If 6,500 units are sold, the total variable cost is closest to: Multiple Choice 0 $106.925 O $128.375 O $97,175 0 $86,125
QUESTION 20 Which of the following should be classified as production costs? Direct materials and selling costs. Direct labor and administrative costs. Manufacturing overhead and selling and administrative costs. Direct materials, direct labor, and selling and administrative costs. Direct materials, direct labor, and manufacturing overhead.
Are guards at the factory classified as: Selling Cost, Overhead Cost or Administrative Cost? Is direct material classified as: Selling Cost or Manufacturing Cost or Administrative Cost? Is Shop Foreman's Salary identified as indirect labor or direct labor or none of these?
Eley Corporation produces a single product. The cost of producing and selling a single unit of this product at the company's normal activity level of 40,000 units per month is as follows Direct meterials Direct labor Varlable manufacturing overhead Fixed manufacturing overhead Varlable selling& administrative expense Fixed selling & adminlstrative expense 581 $ 16.1 $ 1.3 $ 25.6 $ 17 $ 17.3 The normal selling price of the product is $125.8 per unit. An order has been received from an...