Manufacturing overhead:
A. includes all fixed costs.
B. includes the costs of shipping finished goods to customers.
C. can be either a variable cost or a fixed cost.
D. includes all factory labor costs.
The Answer is “(c) - Can be either a variable cost or a fixed cost”
- Manufacturing overhead consists of all the indirect expenses incurred during the manufacturing of a product. It Included Indirect Materials, Indirect Labor, Indirect Costs, Etc.
-These manufacturing overhead costs cannot be directly charged to a specific product or services.
-Hence, The Manufacturing overhead could be either a variable cost or a fixed cost
Manufacturing overhead: A. includes all fixed costs. B. includes the costs of shipping finished goods to...
A Schedule of Cost of Goods Manufactured includes all of the following costs: direct labor used work in process inventory finished goods inventory actual factory overhead factory overhead applied direct materials used
Cost of Goods Sold (using GAAP rules) includes the following classifications: a. variable raw material costs. b. variable direct labor costs. c. variable manufacturing overhead costs. d. fixed manufacturing overhead costs. e. all of the above.
Under variable costing, the units in the beginning Finished Goods Inventory contain fixed manufacturing overhead costs. a) True b) False
The following table includes costs incurred by Bridgeport Manufacturing. Required: For each of the following costs: 1. classify the each cost item as either product or period costs, and 2. identify whether the costs should be categorized as direct materials (DM), direct labor (DL), manufacturing overhead (MOH), selling (S), or general & administrative (GA). BRIDGEPORT MANUFACTURING COSTS Requirement (1) Requirement (2) Direct materials (DM), Direct labor (DL), Manufacturing Product or Period Overhead (MOH). costs Selling (S), or General & Administrative...
Explanation not necessary Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and fixed manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and all variable manufacturing overhead D. direct material, direct labor, and manufacturing overhead During production, how are the costs in process costing accumulated? A to cost of goods sold B. to each individual department C. to each individual product D. to manufacturing overhead In...
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...
The cost of goods sold: Select one: O a. includes all manufacturing costs incurred during the income statement period. O b. includes both the fixed and the variable costs of producing the items included in revenue. O c. includes period costs only. O d. is equal to the variable cost per unit multiplied by the number of units sold. e. is equal to the fixed costs of production for the time period.
Which of the following costs are NOT included in finished goods inventory? a. Factory overhead b. Direct labor c. Direct materials d. Company president's salary
Please answer all the question!! Thanks a lot! At Allen Company, manufacturing overhead is applied based on direct labor hours. Overhead was estimated to be $540,000 and direct labor hours were estimated to be 360,000. Actual direct labor hours and actual direct labor costs for the year amounted to 400,000 hours and $700,000. In addition, Allen Company incurred the following actual costs during the year: * Administrative expenses, $100,000 • Depreciation expense on fixed assets, $500,000 (80% of the depreciation...
QUESTION 15 Advertising Costs are an example of: O 1. Fixed Manufacturing Cost O 2. Prime Cost O 3. Variable Product Cost O 4. Fixed Selling Cost QUESTION 5 Wood used in the manufacture of furniture is an example of O 1. Variable and direct cost O 2. Fixed and direct Cost O 3. Variable and indirect cost O 4. Fixed and indirect cost QUESTION3 The following costs are budgeted for Ghana Corporation for next year: Total variable co Total...