Homework Answers
Period costs are the costs that are associated with the selling and general administration department i.e costs incurred after the production process.
Direct labor costs are the costs that are directly related to production.
Indirect labour costs are the costs of employees who assist the direct labour in the productin process.
Compliance costs are the costs incurred while complying the applicable laws.
Wages of time keeper in a factory i.e the worker works in production department but is not directly related to production of goods. So, the wages of timekeeper is indirect labor.
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QUESTION 13 The wages of a timekeeper in the factory would be classified as a period...
The wages of a timekeeper in the factory would be classified as indirect labor. compliance costs....
The wages of a timekeeper in the factory would be classified
as
indirect labor.
compliance costs.
direct labor.
a period cost.
Name Date: 1. Management accountants would not assist in budget planning. be prepare reports primarily for...
Name Date: 1. Management accountants would not assist in budget planning. be prepare reports primarily for external users. c. determine cost behavior d. be concerned with the impact of cost and volume ce profits e determine the price of a product 2. A distinguishing feature of managerial accounting is a extemal users b. general-purpose reports every detailed reports d. quarterly and annual reports e. general accepted accounting regulations 3. The wages of a timekeeper in the factory would be classified...
Wages paid to a factory supervisor are treated as: a. a product cost but not as...
Wages paid to a factory supervisor are treated as: a. a product cost but not as a direct labor cost. b. a period cost but not as a direct labor cost. c. both a direct labor cost and a product cost. d. a direct labor cost but not as a period cost. Cost allocation is: a. is same as cost accumulation. b. the process of assigning indirect costs to cost objects. c. the tracking of direct costs to cost objects....
A factory supervisor's wages are classified as: Manufacturing Indirect labor Overhead No A) No Yes Yes...
A factory supervisor's wages are classified as: Manufacturing Indirect labor Overhead No A) No Yes Yes Yes No D) No Yes
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct...
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct labor? O Book binder. O Plant security guard O Sales representative Plant supervisor. O Payroll supervisor QUESTION 9 4 points Save Which of the following is not a period cost? O Legal costs O Public relations costs O Sales commissions. O Wages of assembly-line workers. O The salary of a company's chief financial officer (CFO) QUESTION 10 Materials used in the operation of a...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
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...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor Direct materials Insurance on factory building Indirect materials
which of the following costs would not be classified as factory o Name 1) In a...
which of the following costs would not be classified as
factory o
Name 1) In a process costing system, factory overhead costs are allocated to production departments by using a predetermined overhead allocation rate. A) True B) False Inventory account of a manufacturing company that uses an overhead rate Uusu on direct labor cost has 400 dahit balance after all posting is completed.c om of the one job still in process shows direct material cost of n process shows direct...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of a factory superviso ine workers A)|No B) Yes C) No D) Yes No Yes Yes No OOption A Option B Option O Option D
The wages of a timekeeper in the factory would be classified
as
indirect labor.
compliance costs.
direct labor.
a period cost.
Name Date: 1. Management accountants would not assist in budget planning. be prepare reports primarily for external users. c. determine cost behavior d. be concerned with the impact of cost and volume ce profits e determine the price of a product 2. A distinguishing feature of managerial accounting is a extemal users b. general-purpose reports every detailed reports d. quarterly and annual reports e. general accepted accounting regulations 3. The wages of a timekeeper in the factory would be classified...
Wages paid to a factory supervisor are treated as: a. a product cost but not as a direct labor cost. b. a period cost but not as a direct labor cost. c. both a direct labor cost and a product cost. d. a direct labor cost but not as a period cost. Cost allocation is: a. is same as cost accumulation. b. the process of assigning indirect costs to cost objects. c. the tracking of direct costs to cost objects....
A factory supervisor's wages are classified as: Manufacturing Indirect labor Overhead No A) No Yes Yes Yes No D) No Yes
QUESTION 8 Which of the following employees of a commercial printer/publisher would be classified as direct labor? O Book binder. O Plant security guard O Sales representative Plant supervisor. O Payroll supervisor QUESTION 9 4 points Save Which of the following is not a period cost? O Legal costs O Public relations costs O Sales commissions. O Wages of assembly-line workers. O The salary of a company's chief financial officer (CFO) QUESTION 10 Materials used in the operation of a...
Question 24 2p When direct labor costs are recorded in a job costing O Factory Wages Payable is debited and Work in Process Inventory is credited O Work in Process Inventory is debited and Factory Wages Payable is credited Cost of Goods Manufactured is debited and Direct Labor is credited ODirect Labor and Indirect Labor are debited and Factory Wages Payable is credited O Work in Process Inventory is debited and Factory Overhead is credited costs How much overhead Question...
Question 1 Which one of the following would not be classified as manufacturing overhead? Indirect labor Direct materials Insurance on factory building Indirect materials
which of the following costs would not be classified as
factory o
Name 1) In a process costing system, factory overhead costs are allocated to production departments by using a predetermined overhead allocation rate. A) True B) False Inventory account of a manufacturing company that uses an overhead rate Uusu on direct labor cost has 400 dahit balance after all posting is completed.c om of the one job still in process shows direct material cost of n process shows direct...
Which of the following is classified as a direct labor cost? Wages of assembly Wages of a factory superviso ine workers A)|No B) Yes C) No D) Yes No Yes Yes No OOption A Option B Option O Option D
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