True
explanation
MOH includes all manufacturing costs other than direct materials and direct labor.Manufacturing overhead costs includes rent on factory facilities , factory insurance , factory water and lighting , factory supervisors salaries , depreciation on factory building etc.
MOH includes all manufacturing costs other than direct materials and direct labor. True False
The manufacturing overhead budget lists all costs of production other than direct materials and direct labor. True or False
manufacturing overhead is a term used to describe all manufacturing costs other than direct materials and direct labor true or false
The selling and administrative expense budget lists all costs of production other than direct materials and direct labor. True Or False
Product costs include direct materials, direct labor, and selling costs. True False Period costs are all costs that are not product costs, such as office supplies. True False A cost object is any item such as products, customers, departments, regions, and so on, for which costs are measured and assigned. True False The valve chain is the set of activities that increase the value of an organization's product and services. True False Direct costs can be economically and easily traced...
QUESTION 6 Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as a. miscellaneous expense b.product costs c. period cost d. factory overhead cost
1-The sum of all manufacturing costs except for direct materials and direct labor is called manufacturing overhead. a) True b) False 2- If the fixed cost per unit is $15 and the variable cost per unit is $0.5, and the units produced are 10,000 units. Then what is the total cost if the units produced are 20,000? a)$160,000 b)$150,000 c)$310,000 d)$155,000 3- Conversion cost equals product cost less direct materials cost. a) True b) False 4- During the month of...
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....
For financial accounting purposes, product costs include direct materials, direct labor, and manufacturing overhead. True or False
1. Classify each cost as direct materials (DM), direct labor (DL), manufacturing overhead (MOH), or a period cost for a shoe manufacturer. Leather Utility bill for the manufacturing plant Depreciation expense on accounting dept. copier Wages of production line employees Wages of sales employees Shoe laces Plant supervisor Depreciation expense on sewing machines DM DM DM DM DM DM DM DM DL DL DL DL DL MOH Period Cost MOH Period Cost MOH Period Cost MOH Period Cost MOH Period...
Direct materials Direct labor 560,000 105,000 70,000 455,000 Variable MOH Fixed MOH $ 1,190,000 Total manufacturing cost for 70,000 units (Click the icon to view the outsourcing decision analysis.) InteliSystems manufactures an optical switch that it uses in its final product. InteliSystems incurred the following manufacturing costs when it produced 70,000 units last year: (Click the icon to view the manufacturing costs.) Another company has offered to sell InteliSystems the switch for $8.50 per unit. If InteliSystems buys the switch...