Please help me When accounting for a manufacturer why is direct labor and indirect labor not...
Please help me
When accounting for a manufacturer why is direct labor and indirect labor not expensed immediately when incurred (Wages Expense or Salary Expense)?
Homework Answers
| When wages and salaries are incured, they are, |
| generally, debited to a Factory payroll account. |
| Subsequently, the wages and salaries are |
| traced to jobs in case of direct labor and to |
| overhead cost pools in the case of indirect labor. |
| After so tracing, the wages and salaries are expensed |
| into WIP [direct labor] and Factory overhead [indirect |
| labor]. In Job costing the labor costs are posted to |
| the individual Job Sheets also. |
| Expensing is not done in the first instance as details |
| may have to be worked out later. |
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Please help me
When accounting for a manufacturer why is direct labor and
indirect labor not...
Direct labor and direct materials are
Direct labor and direct materials areSelect one:a. product costs and expensed when the goods are soldb. product costs and expensed when incurredc. period costs and expensed when incurredd. period costs and expensed when the goods are sold
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product...
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead,...
Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead, $12,410. A total of 1,915 units were produced at a per-unit cost of Oa. $1,915 Ob $45.960 Oc. $33,550 Od $24 Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc: period costs and expensed when the goods are sold Od product costs and expensed when the goods are sold
please help me with this Exercise 14-6 Cost classification LO C3 Tesla a vehicle manufacturer, incurs...
please help me with this
Exercise 14-6 Cost classification LO C3 Tesla a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a product cost. Identify it as direct materials, direct labor or factory overhead, and then as a prime and/or conversion cost (2) Classify each product cost as either a direct cost or an indirect cost using the product as the cost object (Leave no cell blank if there...
Ruiz Engineering Contractors Incurred service salaries and wages of $41,800 ($34,400 direct and $7,400 indirect) on...
Ruiz Engineering Contractors Incurred service salaries and
wages of $41,800 ($34,400 direct and $7,400 indirect) on an
engineering project. The company applies overhead at a rate of 22%
of direct labor.
Record the entries to assign service salaries and wages and to
apply overhead.
m/courses/4920/assignments/79895?module_item_id-190679 Question 1 View Policies Current Attempt in Progress Ruiz Engineering Contractors incurred service salaries and wages of $41,800 ($34,400 direct and $7.400 indirect) on an engineering project. The company applies overhead at a rate of...
neep help please Exercise 1-1 Identifying Direct and Indirect Costs [LO1-1] Northwest Hospital is a full-service...
neep help please
Exercise 1-1 Identifying Direct and Indirect Costs [LO1-1] Northwest Hospital is a full-service hospital that provides everything from major surgery and emergency room care to outpatient clinics. Required: For each of the following costs incurred at Northwest Hospital, indicate whether it would most likely be a direct cost or an indirect cost of the specified cost object. Direct Cost/indirect Cost Cost Cost Object Direct Cost Ex. Catered food served to patients A particular patient The pediatric department...
11. During October, Dorinirl Corporation incurred $65,500 of direct labor costs and $5,100 of indirect labor...
11. During October, Dorinirl Corporation incurred $65,500 of direct labor costs and $5,100 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500...
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500 Direct Materials Used 62,000 Factory Utilities 760 Factory Janitorial Costs 3,400 Manufacturing Equipment Depreciation 3,300 Delivery Vehicle Depreciation 3,500 Administrative Wages and Salaries 21,000 Calculate Moreau Manufacturing's total product costs. O A. $152,500 B. $584,200 OC. $159,960 OD. $107,000
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation...
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation on office equipment C. CEO's salary D. factory supervisor's salary E. None of the above. Which of the following correctly describes the accounting for indirect labor costs? Select one: A. Indirect labor costs are expensed as incurred. B. Indirect labor costs are period costs and are expensed when the manufactured product is sold. C. Indirect labor costs are product costs and are expensed as...
Question Help Granger Cards is a manufacturer of greeting cards. Classify its costs by matching the...
Question Help Granger Cards is a manufacturer of greeting cards. Classify its costs by matching the costs to the terms. a. Artists' wages L b . Wages of materials warehouse workers 1. Direct materials 2. Direct labor 3. Indirect materials 4. Indirect labor 5. Other manufacturing overhead C c . Paper d. Depreciation on manufacturing equipment e. Manufacturing plant manager's salary f. Property taxes on manufacturing plant g. Glue for envelopes
Calculator Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc. period costs and expensed when the goods are sold Od. product costs and expensed when the goods are sold
Calculator When Job 117 was completed, direct materials totaled $13,328; direct labor, $20,222; and factory overhead, $12,410. A total of 1,915 units were produced at a per-unit cost of Oa. $1,915 Ob $45.960 Oc. $33,550 Od $24 Direct labor and direct materials are Oa. period costs and expensed when incurred Ob. product costs and expensed when incurred Oc: period costs and expensed when the goods are sold Od product costs and expensed when the goods are sold
please help me with this
Exercise 14-6 Cost classification LO C3 Tesla a vehicle manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a product cost. Identify it as direct materials, direct labor or factory overhead, and then as a prime and/or conversion cost (2) Classify each product cost as either a direct cost or an indirect cost using the product as the cost object (Leave no cell blank if there...
Ruiz Engineering Contractors Incurred service salaries and
wages of $41,800 ($34,400 direct and $7,400 indirect) on an
engineering project. The company applies overhead at a rate of 22%
of direct labor.
Record the entries to assign service salaries and wages and to
apply overhead.
m/courses/4920/assignments/79895?module_item_id-190679 Question 1 View Policies Current Attempt in Progress Ruiz Engineering Contractors incurred service salaries and wages of $41,800 ($34,400 direct and $7.400 indirect) on an engineering project. The company applies overhead at a rate of...
neep help please
Exercise 1-1 Identifying Direct and Indirect Costs [LO1-1] Northwest Hospital is a full-service hospital that provides everything from major surgery and emergency room care to outpatient clinics. Required: For each of the following costs incurred at Northwest Hospital, indicate whether it would most likely be a direct cost or an indirect cost of the specified cost object. Direct Cost/indirect Cost Cost Cost Object Direct Cost Ex. Catered food served to patients A particular patient The pediatric department...
Advertising Costs $9,700 Indirect Labor 38,000 CEO's Salary 550,000 Direct Labor 45,000 Indirect Materials Used 7,500 Direct Materials Used 62,000 Factory Utilities 760 Factory Janitorial Costs 3,400 Manufacturing Equipment Depreciation 3,300 Delivery Vehicle Depreciation 3,500 Administrative Wages and Salaries 21,000 Calculate Moreau Manufacturing's total product costs. O A. $152,500 B. $584,200 OC. $159,960 OD. $107,000
Which of the following is a product cost? Select one: A. delivery van depreciation B. depreciation on office equipment C. CEO's salary D. factory supervisor's salary E. None of the above. Which of the following correctly describes the accounting for indirect labor costs? Select one: A. Indirect labor costs are expensed as incurred. B. Indirect labor costs are period costs and are expensed when the manufactured product is sold. C. Indirect labor costs are product costs and are expensed as...
Question Help Granger Cards is a manufacturer of greeting cards. Classify its costs by matching the costs to the terms. a. Artists' wages L b . Wages of materials warehouse workers 1. Direct materials 2. Direct labor 3. Indirect materials 4. Indirect labor 5. Other manufacturing overhead C c . Paper d. Depreciation on manufacturing equipment e. Manufacturing plant manager's salary f. Property taxes on manufacturing plant g. Glue for envelopes
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