Homework Answers
Solution:
The Correct answer is Factory heating and lighting Costs.
Manufacturing factory overheads are product costs, which are direcly or indirectly relates to production , this is indirect product cost , the rest of the costs are period costs , not at all related to production or manufacturing .
Factory heating and lighting cost is a manufacturing overhead cost.
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Which of the following is an example of a manufacturing overhead cost? Multiple Choice CEO's salary...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process...
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
Which of the following costs should be recorded as an expense? Multiple Choice Depreciation of manufacturing...
Which of the following costs should be recorded as an expense? Multiple Choice Depreciation of manufacturing equipment Salary of administrative employee All of these are expenses. o oo Insurance for the factory building
16. The cost of a manufactured product generally consists of which of the following costs? a...
16. The cost of a manufactured product generally consists of which of the following costs? a direct materials cost and factory overhead cost only b. direct labor cost and factory overhead cost only c. direct labor cost, direct materials cost, and factory overhead cost d. direct materials cost and direct labor cost only 17. Materials must have which two qualities in order to be classified as direct materials? a. They must be classified as both prime costs and conversion costs. b....
Which of the following is NOT a period cost? Multiple Choice 0 Cost of a seminar...
Which of the following is NOT a period cost?Multiple ChoiceCost of a seminar concerning tax law updates that was attended by the company's controller.Insurance on a company showroom where customers can view new products.Depreciation of factory maintenance equipment.Salary of a clerk who handles customer billing.For financial reporting purposes, the total amount of product costs incurred to make 5,000 units is closest to:Multiple Choice$ 70,750$ 10,000$ 65,750$ 55,750
Which of the following would not be considered a product cost? Multiple Choice Direct material costs....
Which of the following would not be considered a product cost? Multiple Choice Direct material costs. Factory supervisor's salary. Direct labor costs. Budget accountant's salary. Manufacturing overhead costs.
Which of the following would be considered a discretionary fixed cost? Multiple Choice Rent on the...
Which of the following would be considered a discretionary fixed cost? Multiple Choice Rent on the building. Insurance on the building. Depreciation on the building. Maintenance on the building.
D. $0.40 Example 45: Classify each of the following as either period or product. If a...
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
(A) Determine the total amount of manufacturing overhead: $_________ (B) Knight Company reports the following costs...
(A) Determine the total amount of manufacturing
overhead: $_________
(B)
Knight Company reports the following costs and expenses in May. $16,500 14,250 Direct labor Sales salaries $70,000 50,800 4,000 3,100 Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 52,700 85,700 142,700 8,600 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,000 2,220 16,800 3,060 National Express reports the following costs...
Which statement regarding the Manufacturing Overhead Cost is incorrect? 12 Multiple Choice 00:30:21 It consists of...
Which statement regarding the Manufacturing Overhead Cost is incorrect? 12 Multiple Choice 00:30:21 It consists of both fixed and variable costs It consists of only manufacturing costs. It is a direct cost to the products produced by a manufacturing company it includes Indirect materials and indirect labor costs Heat, water, and power consumed in the factory are examples of the manufacturing overhead cost.
Determine the amount of manufacturing overhead given the following informations: Depreciation on a factory building $2,600...
Determine the amount of manufacturing overhead given the following informations: Depreciation on a factory building $2,600 Telephone expense in factory office $950 Telephone expense in sales showroom $1,050 Factory foreman's salary $5,200 Maintenance costs for the factory $1,000 Maintenance costs for the sales showroom $880 A. $9,750 B. $7,750 C. $10,430 D. $11,080
20. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. factory overhead cost b. miscellaneous expense c. product costs d. period cost 21. Which of the following is an example of a factory overhead cost? a. repair and maintenance cost on the administrative building b. factory heating and lighting cost e. insurance premiums on salespersons' automobiles d. president's salary 22. Prime costs are a direct materials and factory overhead b....
Which of the following costs should be recorded as an expense? Multiple Choice Depreciation of manufacturing equipment Salary of administrative employee All of these are expenses. o oo Insurance for the factory building
16. The cost of a manufactured product generally consists of which of the following costs? a direct materials cost and factory overhead cost only b. direct labor cost and factory overhead cost only c. direct labor cost, direct materials cost, and factory overhead cost d. direct materials cost and direct labor cost only 17. Materials must have which two qualities in order to be classified as direct materials? a. They must be classified as both prime costs and conversion costs. b....
D. $0.40 Example 45: Classify each of the following as either period or product. If a cost is a period cost, indicate whether it would be a selling or an administrative cost. If a cost is a product cost, indicate whether it is direct or indirect. Item Period Cost Product Cost Selling Administrative Direct Indirect Rent on a sales office Direct materials Sales commissions Rent on a factory building Secretarial salaries for the sales force Assembly line worker wages Product...
(A) Determine the total amount of manufacturing
overhead: $_________
(B)
Knight Company reports the following costs and expenses in May. $16,500 14,250 Direct labor Sales salaries $70,000 50,800 4,000 3,100 Factory utilities Depreciation on factory equipment Depreciation on delivery trucks Indirect factory labor Indirect materials Direct materials used Factory manager's salary 52,700 85,700 142,700 8,600 Property taxes on factory building Repairs to office equipment Factory repairs Advertising Office supplies used 2,000 2,220 16,800 3,060 National Express reports the following costs...
Which statement regarding the Manufacturing Overhead Cost is incorrect? 12 Multiple Choice 00:30:21 It consists of both fixed and variable costs It consists of only manufacturing costs. It is a direct cost to the products produced by a manufacturing company it includes Indirect materials and indirect labor costs Heat, water, and power consumed in the factory are examples of the manufacturing overhead cost.
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