Homework Answers
13) the rent paid for the building where the table is assebled
the rent paid for the bulding is an indirect cost for manufacturing a wood and glass table .this cost of rent cannot be traceable to manufacturing cost
the cost of wood in the table is directly attributable cost which is a direct material cost
the cost of glass in the table is also a direct material cost
the amount of wages paid to the persons assembling the table is a direct labor cost
14) it is used when different and unique products are produced.
Job order costing is used when many different products with different features are produced during a particular period. This process allows companies to allocate all of the costs incurred in a business, whether direct or indirect to jobs. it can be used in both service and manufacturing industries.
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5 pts Question 13 Which of the following would be considered an indirect cost of manufacturing...
Need help with question 17 & 18! c. Direct materials and direct manufacturing labor are included...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
Consider Zippy Motors' operations again. Which of the following would NOT be considered an indirect product...
Consider Zippy Motors' operations again. Which of the following would NOT be considered an indirect product cost in Zippy's operations? The cost of lubricant used in assembly tools. The wages paid to employees who clean and maintain production facility equipment. The sales commissions paid to Zippy's retail sales agents. The cost of electricity and water in each of Zippy's production facilities. All of the above would be considered indirect product costs.
5) Which of the following would NOT be a cost that could be directly traced to...
5) Which of the following would NOT be a cost that could be directly traced to a custom piece of furniture based upon physical observation? a) The wood and upholstery materials that are in the final plece. bl.The depreciation on factory equipment. Sl.The.labor of the wacket assembling the piece. at furniture d) The labor of the woodworker who finishes the wood of the piece. Answer: _(2 points) 6) Which of the following items would NOT be classified as part of...
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing...
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing firms make a tangible product. They need to determine product costs for both inventory valuation and the calculation of cost of goods sold. The cost of inventory appears on the , and the cost of goods sold appears on the . (Wholesale or retail firms purchase a product that is already manufactured. The cost of such products, which are tangible, are carried at that...
XYZ Company uses job-order costing and has assembled the following cost data for the production and...
XYZ Company uses job-order costing and has assembled the following cost data for the production and assembly of item X: = (Click the icon to view the cost data.) Based on the above cost data, the manufacturing overhead for item X is: O A. $750 underallocated. O B. $2,750 underallocated. O C. $2,750 overallocated. O D. $750 overallocated. Cost Data X Direct manufacturing labor wages $ Direct material used Indirect manufacturing labor Utilities 38,000 75,000 4,400 390 510 9,000 5,700...
Which of the following statements is false regarding job-order costing?
Which of the following statements is false regarding job-order costing? Multiple Choice It is used for manufacturing companies, but not service companies. It can be used to calculate a job's unit product cost. It accumulates each job's costs on a job cost sheet. It is used in situations where many different products, each with unique features, are produced each period.In the Excel, or spreadsheet, approach to recording financial transactions, cash paid to creditors is recorded as a decrease in the Cash column and as a...
12 pts o term will be used more Question 4 [ Choose ] Product Cost Indirect...
12 pts o term will be used more Question 4 [ Choose ] Product Cost Indirect Cost Match the following phrases and term Income Statement Accounting Variable Cost than once. Direct Cost Period Cost Tax Accounting a method for keeping track of large v Process Costing amounts of homogenous units during the Job Order Costing manufacturing process. Purchase Order Labor Ticket a cost that does not increase proportionall Financial Accounting with increases in volume over the relevant Materials Requisition range....
Which of the following would be considered a period cost for a manufacturing company? O A....
Which of the following would be considered a period cost for a manufacturing company? O A. indirect materials O B. direct labor O C. sales salaries OD. factory utilities Cick to select your answer MacBoo esc FI DDD F3 ODD 54 ta $ %
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling,...
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 16 intricate personalized frames, and Job 325, an order of 4 standard personalized frames. The controller wants you to compare overhead alocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
Need help with question 17 & 18!
c. Direct materials and direct manufacturing labor are included in total manufacturing costs. d. Manufacturing overhead costs incurred is used to determine total manufacturing costs. 4-17 Sturdy Manufacturing Co. assembled the following cost data for job order 823: Direct manufacturing labor $80,000 Indirect manufacturing labor 12,000 Equipment depreciation 1,000 Other indirect manufacturing costs 1,500 Direct materials 95,000 Indirect materials 4,000 Manufacturing overhead overapplied 2,000 What are the total manufacturing costs for job order...
Consider Zippy Motors' operations again. Which of the following would NOT be considered an indirect product cost in Zippy's operations? The cost of lubricant used in assembly tools. The wages paid to employees who clean and maintain production facility equipment. The sales commissions paid to Zippy's retail sales agents. The cost of electricity and water in each of Zippy's production facilities. All of the above would be considered indirect product costs.
5) Which of the following would NOT be a cost that could be directly traced to a custom piece of furniture based upon physical observation? a) The wood and upholstery materials that are in the final plece. bl.The depreciation on factory equipment. Sl.The.labor of the wacket assembling the piece. at furniture d) The labor of the woodworker who finishes the wood of the piece. Answer: _(2 points) 6) Which of the following items would NOT be classified as part of...
Manufacturing and Service Firms In general, firms can be divided into manufacturing and service firms. Manufacturing firms make a tangible product. They need to determine product costs for both inventory valuation and the calculation of cost of goods sold. The cost of inventory appears on the , and the cost of goods sold appears on the . (Wholesale or retail firms purchase a product that is already manufactured. The cost of such products, which are tangible, are carried at that...
XYZ Company uses job-order costing and has assembled the following cost data for the production and assembly of item X: = (Click the icon to view the cost data.) Based on the above cost data, the manufacturing overhead for item X is: O A. $750 underallocated. O B. $2,750 underallocated. O C. $2,750 overallocated. O D. $750 overallocated. Cost Data X Direct manufacturing labor wages $ Direct material used Indirect manufacturing labor Utilities 38,000 75,000 4,400 390 510 9,000 5,700...
12 pts o term will be used more Question 4 [ Choose ] Product Cost Indirect Cost Match the following phrases and term Income Statement Accounting Variable Cost than once. Direct Cost Period Cost Tax Accounting a method for keeping track of large v Process Costing amounts of homogenous units during the Job Order Costing manufacturing process. Purchase Order Labor Ticket a cost that does not increase proportionall Financial Accounting with increases in volume over the relevant Materials Requisition range....
Which of the following would be considered a period cost for a manufacturing company? O A. indirect materials O B. direct labor O C. sales salaries OD. factory utilities Cick to select your answer MacBoo esc FI DDD F3 ODD 54 ta $ %
The job costing system at Shelby's Custom Framing has five indirect cost pools (purchasing, material handling, machine maintenance, product inspection, and packaging). The company is in the process of bidding on two jobs; Job 215, an order of 16 intricate personalized frames, and Job 325, an order of 4 standard personalized frames. The controller wants you to compare overhead alocated under the current simple job-costing system and a newly designed activity-based job-costing system. Total budgeted costs in each indirect cost...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
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