If the variable costing concept is followed, which of the following costs would be included as...
If the variable costing concept is followed, which of the following costs would be included as part of the cost of product manufactured? (1) Depreciation on plant; (2) Direct labor; (3) Direct materials; (4) Property taxes on plant; (5) Insurance on plant; (6) Electricity purchased to operate machinery.
Homework Answers
Under variable costing, following costs would be included as part of the cost of product manufactured:
- direct labor
- direct material
- electricity purchased to operate machinery
because these the cost which are variable in nature and incur directly in the direction of production.
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If the variable costing concept is followed, which of the following costs would be included as...
Question 1 of 1010.0 Points If the variable costing concept is followed, which of the following...
Question 1 of 1010.0 Points If the variable costing concept is followed, which of the following costs would be included as part of the cost of product manufactured? (1) Depreciation on plant; (2) Direct labor; (3) Direct materials; (4) Property taxes on plant; (5) Insurance on plant; (6) Electricity purchased to operate machinery. A. 1, 2, 3 would be included. B. 2, 3, 5, and 6 would be included. C. Only 2, 3, and 6 would be included. Question...
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for...
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes Oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages $4,000 16,000 4,000 110,000 140,000 520,000 20,000 29,000 19,000 21,000 60,000 210,000 36,000 19,000 Classify the above costs of Santana Corporation into activity cost pools using the following:...
​Under absorption costing, which of the following costs would not be included in finished goods inventory?
Under absorption costing, which of the following costs would not be included in finished goods inventory? direct materials cost variable and fixed factory overhead cost direct labor cost variable and fixed selling and administrative expenses
Which of the following statements is correct using the direct costing concept? A) All manufacturing costs...
Which of the following statements is correct using the direct costing concept? A) All manufacturing costs are considered period costs. B)Only variable manufacturing costs are included in the calculation of cost of goods manufactured while fixed costs are considered period costs. C)All manufacturing costs are included in the calculation of cost of goods manufactured. D)Only fixed costs are included in the calculation of cost of goods manufactured while variable costs are considered period costs.
Exercise 4-6 Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are...
Exercise 4-6 Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials $ 4,000 Inspections 16,000 Tests 4,000 Insurance, plant 110,000 Engineering design 140,000 Depreciation, machinery 520,000 Machine setup, Indirect labor 20,000 Property taxes 29,000 Oil, heating 19,000 Electricity, plant lighting 21,000 Engineering prototypes 60,000 Depreciation, plant 210,000 Electricity, machinery 36.000 Machine maintenance wages 19.000 Classify the above costs of Santana Corporation into activity cost pools...
Under full absorption costing, which of the following are included in product costs? A. Only conversion...
Under full absorption costing, which of the following are included in product costs? A. Only conversion costs. B. Only variable manufacturing costs. C. Only direct materials and direct labor. D. All fixed and variable manufacturing costs.
21. Under variable costing, which of the following costs would be included in finished goods inventory?...
21. Under variable costing, which of the following costs would be included in finished goods inventory? a.wages of carpenters in a furniture factory b.straight-line depreciation on factory equipment c.salary of vice-president of finance d.salary of salesperson 22. A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct materials $170,000 Direct labor 360,000 Variable factory overhead 190,000 Fixed factory overhead 50,000 $770,000 Operating expenses: Variable operating expenses $ 60,000 Fixed...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Resins for body wash products b. Scents and fragrances used in making soaps and detergents c. Plant manager salary for the Iowa City, lowa, plant d. Depreciation on the Auburn, Maine, manufacturing plant e. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant f. Maintenance supplies g....
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products...
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products manufactured during the year Direct material Direct labor $5,000,000 2,400,000 Manufacturing overheadr Ueilities (primarily electricity) 120,000 220,000 150,000 400,000 230,000 Depreciation on plant and equipment Insurance Supervisory salaries Property taxes Selling costs Advertising Sales commissions Administrative costs Salaries of top management and staft 165,000 80,000 Office supplies Depreciation on building and equipment 372,000 45,000 80,000 to a slowdown in the economy. Prospects for 20x2...
Which of the following costs would be included in the conversion costs for a cost of...
Which of the following costs would be included in the conversion costs for a cost of production report? A. Direct Labor and Manufacturing Overhead B. Direct Materials, Direct Labor, and Manufacturing Overhead C. Direct Materials D. Manufacturing overhead E. Direct Labor
Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials Inspections Tests Insurance, plant Engineering design Depreciation, machinery Machine setup, indirect labor Property taxes Oil, heating Electricity, plant lighting Engineering prototypes Depreciation, plant Electricity, machinery Machine maintenance wages $4,000 16,000 4,000 110,000 140,000 520,000 20,000 29,000 19,000 21,000 60,000 210,000 36,000 19,000 Classify the above costs of Santana Corporation into activity cost pools using the following:...
Exercise 4-6 Santana Corporation manufactures snowmobiles in its Blue Mountain, Wisconsin, plant. The following costs are budgeted for the first quarter's operations. Machine setup, indirect materials $ 4,000 Inspections 16,000 Tests 4,000 Insurance, plant 110,000 Engineering design 140,000 Depreciation, machinery 520,000 Machine setup, Indirect labor 20,000 Property taxes 29,000 Oil, heating 19,000 Electricity, plant lighting 21,000 Engineering prototypes 60,000 Depreciation, plant 210,000 Electricity, machinery 36.000 Machine maintenance wages 19.000 Classify the above costs of Santana Corporation into activity cost pools...
Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: Cost Classification a. Resins for body wash products b. Scents and fragrances used in making soaps and detergents c. Plant manager salary for the Iowa City, lowa, plant d. Depreciation on the Auburn, Maine, manufacturing plant e. Depreciation on assembly line in the Mehoopany, Pennsylvania, paper products plant f. Maintenance supplies g....
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products manufactured during the year Direct material Direct labor $5,000,000 2,400,000 Manufacturing overheadr Ueilities (primarily electricity) 120,000 220,000 150,000 400,000 230,000 Depreciation on plant and equipment Insurance Supervisory salaries Property taxes Selling costs Advertising Sales commissions Administrative costs Salaries of top management and staft 165,000 80,000 Office supplies Depreciation on building and equipment 372,000 45,000 80,000 to a slowdown in the economy. Prospects for 20x2...
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