Homework Answers
Answer No 19 and 20 are already given.
Answer 21 - (A) COST POOL
Answer 22 - (C) a systematic way to link an indirect cost or group of indirect costs to cost objects.
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m anfatur veral different products. Unit costs associated with 19) The American West Com ORD210 are...
4.an increase in direct labor costs per unit a. Increases the fixed costs b. increases profits...
4.an increase in direct labor costs per unit a. Increases the fixed costs b. increases profits C. Increases variable costs d. Increases overhead costs 5.which of the following is true of the work in process control account? a. It tracks all direct material purchases b. Its balance is the sum of amounts from all "in process individual job costs records C. It is an expense account d. It tracks overhead costs in process from beginning through completion 6. The cost...
The cost allocation base O A. are costs related to a particular cost object that cannot...
The cost allocation base O A. are costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way B. is anything for which a measurement of costs is desired O C. is a systematic way to link an indirect cost or group of indirect costs to cost objects D. is a grouping of individual indirect cost items
Merrell Company manufactures several different products. Unit costs associated with Product MLL101 are as follows: Direct...
Merrell Company manufactures several different products. Unit costs associated with Product MLL101 are as follows: Direct materials $60; Direct manufacturing labor $10; Variable manufacturing overhead $18; Fixed manufacturing overhead $32; Sales commissions (2% of sales) $4; Administrative salaries $16; Total $140. What are the inventoriable costs per unit associated with Product MLL101? $120 $140 $50 $88
Puritan Apparels is a clothing manufacturer. Unit costs associated with one of its products, Product FGS1156,...
Puritan Apparels is a clothing manufacturer. Unit costs associated with one of its products, Product FGS1156, are as follows: $190 Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions (2% of sales) Administrative salaries Total $346 What are the inventoriable costs per unit associated with Product FGS1156? OA. $285 O B. $156 O C. $281 OD. $319
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows:...
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows: Direct materials $54 Direct manufacturing labor 8 Variable manufacturing overhead 11 Fixed manufacturing overhead 25 Sales commissions (2% of sales) 5 Administrative salaries 12 Total $115 What is the percentage of the total fixed costs per unit associated with Product ORD105 with respect to total cost? A) 37% B) 32% C) 15% D) 26%
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and...
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
Puritan Apparels is a clothing retailer. Unit costs associated with one of its products, Product DCF...
Puritan Apparels is a clothing retailer. Unit costs associated with one of its products, Product DCF 130, are as follows: Direct materials $120 Direct manufacturing labor 40 Variable manufacturing overhead 15 Fixed manufacturing overhead 33 Sales commissions (2% of sales) 5 Administrative salaries 24 Total $237 What are the indirect nonmanufacturing variable costs per unit associated with Product DCF130? A. $5 B. $160 C. $29 D. $213
Explanation not necessary Under absorption costing, a unit of product includes which costs? A. direct material, dir...
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...
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving....
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs $140,000 V 22,000 V...
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows:...
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows: Direct materials $92 Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead 32 Sales commissions (2% of sales) 26 Administrative salaries Total $200 What is the percentage of the total variable costs per unit associated with Product ORD105 with respect to total cost? 81% 6896 84% 7196
4.an increase in direct labor costs per unit a. Increases the fixed costs b. increases profits C. Increases variable costs d. Increases overhead costs 5.which of the following is true of the work in process control account? a. It tracks all direct material purchases b. Its balance is the sum of amounts from all "in process individual job costs records C. It is an expense account d. It tracks overhead costs in process from beginning through completion 6. The cost...
The cost allocation base O A. are costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way B. is anything for which a measurement of costs is desired O C. is a systematic way to link an indirect cost or group of indirect costs to cost objects D. is a grouping of individual indirect cost items
Puritan Apparels is a clothing manufacturer. Unit costs associated with one of its products, Product FGS1156, are as follows: $190 Direct materials Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions (2% of sales) Administrative salaries Total $346 What are the inventoriable costs per unit associated with Product FGS1156? OA. $285 O B. $156 O C. $281 OD. $319
Distinguish between inventoriable costs and period costs. O A. Inventoriable costs include direct manufacturing materials and direct manufacturing labor costs that are capitalized into inventory and remain on the balance sheet until sold. Period costs include indirect manufacturing (or manufacturing overhead) costs and are expensed as incurred through the cost of goods sold account. B. Inventoriable costs include material costs and are capitalized as assets to the company until the items are sold. Period costs include labor and overhead costs...
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...
2-45 Comprehensive problem on unit costs, product costs. Atlanta Office Equipment manufactures and sells metal shelving. It began operations on January 1, 2017. Costs incurred for 2017 are as follows (V stands for variable; F stands for fixed): Direct materials used Direct manufacturing labor costs Plant energy costs Indirect manufacturing labor costs Indirect manufacturing labor costs Other indirect manufacturing costs Other indirect manufacturing costs Marketing, distribution, and customer-service costs Marketing, distribution, and customer-service costs Administrative costs $140,000 V 22,000 V...
The East Company manufactures several different products. Unit costs associated with Product ORD105 are as follows: Direct materials $92 Direct manufacturing labor Variable manufacturing overhead Fixed manufacturing overhead 32 Sales commissions (2% of sales) 26 Administrative salaries Total $200 What is the percentage of the total variable costs per unit associated with Product ORD105 with respect to total cost? 81% 6896 84% 7196
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