Homework Answers
Part 1)
The correct answer is
D) factory supervisor salary
Explanation
Product cost refers to the cost which is related to manufacturing of product and it includes direct material + direct labour + manufacturing overheads. Factory supervisor salary is part of manufacturing overheads , so it is a product costs.
Part 2)
D) Indirect labor costs are inventoried product costs and expensed when the manufactured product are sold.
Explanation
Indirect cost is part of manufacturing overheads cost which is a product cost and these cost are expensed only when the manufactured product are sold.
Add Answer to:
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34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
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Which of the following is not a product cost: Select one: A. Direct Materials B. Indirect...
Which of the following is not a product cost: Select one: A. Direct Materials B. Indirect Labor o C. Depreciation of the office building D. Factory Maintenance
(A) Determine the total amount of manufacturing overhead: $_________ (B) Knight Company reports the following costs...
(A) Determine the total amount of manufacturing
overhead: $_________
(B)
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Question 8 The following costs were incurred by a manufacturing company Materials used in product Depreciation...
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class differ (LO2) $16,000 E14.7 National Express reports the followi National Express reports the following costs...
class differ (LO2) $16,000 E14.7 National Express reports the followi National Express reports the following costs and expenses in June 2017 for its delivery service. Indirect materials $ 6,400 Drivers' salaries Depreciation on delivery equipment 4,600 11,200 Advertising Dispatcher's salary 300 5,000 Delivery equipment repairs Property taxes on office building 870 Office supplies 650 CEO's salary 990 12,000 Office utilities Gas and oil for delivery trucks 2,200 Repairs on office equipment 180 Instructions Determine the total amount of (a) delivery...
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Which of the following would not be considered a product cost? Multiple Choice Direct material costs....
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Which of the following is not a product cost: Select one: A. Direct Materials B. Indirect Labor o C. Depreciation of the office building D. Factory Maintenance
(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...
The following information provides the amount of cost incurred in March for the cost items indicated. During March, 4,000 units of the firm's single product were manufactured Raw materials Factory depreciation expense Direct labor Production supervisor's salary Computer rental expense Maintenance supplies used $20,800 40,500 49,600 5,000 3,100 600 Required: a. How much cost would you expect to be incurred for each of these items during April when 5,600 units of the product are planned for production? (Do not round...
Question 8 The following costs were incurred by a manufacturing company Materials used in product Depreciation on plant $120,100 6,280 870 Property taxes on plant Labour costs Factory supplies used Advertising expense Factory insurance Factory supervisor's salary of assembly-line workers 2,500 4,950 21,250 50,050 Work in process inventory was $5,700 at January 1 and $6,600 at December 31. Finished goods inventory was $30,900 at January 1 and $29,600 at December 31 Calculate cost of goods manufactured Cost of goods ma...
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