1. Sandpaper used in the manufacture of furniture2. Spare parts used for replacement of worn out parts of machine3. Wages of timekeepers, foremen, security guards, and janitors4. Wages of factory helpers cleaning machines5. Salary of plant engineer scheduling production6. Salary of men operating the machines that manufacture the finished goods IIIClassify the following cost items into:A. Direct materialsB. Direct laborC. Manufacturing overhead1. Indirect materials3. Factory supplies2. Indirect labor4. OthersD. None of these (Explain in at least one(1) sentenceWrite the answers only using capital letters. Answer C cannot stand alone;include the related numbering. Erasures and alterations will not be honored.

Expenses can be classified into mainly 2 types; Direct Expenses - are those that are directly…

1. Sandpaper used in the manufacture of furniture 2. Spare parts used for replacement of worn out parts of machine 3. Wages of timekeepers, foremen, security guards, and janitors 4. Wages of factory helpers cleaning machines 5. Salary of plant engineer scheduling production 6. Salary of men operating the machines that manufacture the finished goods

1. Sandpaper used in the manufacture of furniture 2. Spare parts used for replacement of worn out parts of machine 3. Wages of timekeepers, foremen, security guards, and janitors 4. Wages of factory helpers cleaning machines 5. Salary of plant engineer scheduling production 6. Salary of men operating the machines that manufacture the finished goods

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter10: Accounting Systems For Manufacturing Operations

Section: Chapter Questions

Problem 1SEQ: Which 01 the following is not considered a cost of manufacturing a product A. Direct materials cost...

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Required:Identify each cost as either a product cost or a period cost. If a product cost, classify it as direct materials, direct labor, or factory overhead. If a period cost, classify it as a selling expense or a general and administrative expense. (Leave no cell blank. Enter "NA - Not a product cost" or "NA - Not a period cost" for expenses that are not product cost or period cost.) The options for the drop down in section 1 are: direct labor, direct materials, factory overhead, NA- not a product cost the options for the drop down in section 2 are: general and administrative expenses, NA- not a period cost, selling expenses
Ma1. Please classify as true or false and comment the following sentence: “The costs of the manufacturing sections (cost centres) only include direct costs”
Referring to the question E2-26A in the textbook named Managerial Accounting by Pearson- 5th edition. The expenses named “ insurance on plant, depreciation-plant building and equipment and repairs and maintenance-plant “, how can we identify they are not a kind of indirect costs of manufacturing? For instance, insurance on plant is obvious an expenses because of manufacturing the product. Plus, What is the purpose of the question mention- Assume that the RM inventory contains only direct materials? Please instruct. Appreciated
I - If more overhead is applied to WIP than is actually incurred, then overhead will be overapplied. II - All of the raw materials purchases during a period are included in the cost of goods manufacture figure. * A. T, F B. F, T C. T, T D. F, F
2. The debits in work-in-process are beginning work-in-process, direct labor, direct materials, and factory overhead.Assuming there are minimal items already completed, the account should be credited for production that iscompleted and sent to finished goods inventory. The balance is:A. Ending work-in-process (Debit)B. Ending work-in-process (Credit)C. ZeroD. Total production costs to be accounted for 3. Companies characterized by the production of heterogenous products will most likely use which of the followingmethods for the purpose of averaging costs and providing management with unit cost data?A. Absorption costingB. Process costingC. Direct costingD. Job-order costing
Which 01 the following is not considered a cost of manufacturing a product A. Direct materials cost B. Factory overhead cost C. Sales salaries D. Direct labor cost
[S1] A cost is either direct or indirect. The classification changes if the costs object changes. [S2] Manufacturing overhead is an indirect cost with respect to units of product. a. both are trueb. both are falsec. S1 is trued. S2 is true
5.The cost of conversion of inventories include all of the following, EXCEPT a. costs directly related to the units of production, such as direct labor. b. systematic allocation of fixed production overhead. c. systematic allocation of variable production overhead. d. systematic allocation of administrative overhead.
Match one or more of the following terms with each definition below:a. Direct labour e. Inventoriable product costsb. Direct materials f. Manufacturing overheadc. Indirect labour g. Period costsd. Indirect materials_____ i) Operating costs that are expensed in the period in which they are incurred_____ ii) Materials that become a physical part of a finished product and whose costs aretraceable to the finished product_____ iii) All manufacturing costs other than direct materials & direct labour_____ iv) Labour costs that are difficult to trace to specific products_____ v) Materials whose costs cannot conveniently be directly traced to particularfinished products_____ vi) Product costs included in inventory, as required by GAAP_____ vii) The compensation of employees who physically convert materials into thecompany’s products; labour costs that are directly traceable to finished products
Info in images Continued info for question 1. Compute the predetermined overhead rate for the year. Predetermined overhead rate [ ] % 2. Compute the amount of underapplied or overapplied overhead for the year. [Underapplied OR Overapplied] overhead [ ] 3. Info in image "ACC REQ3" 4. Compute the unadjusted cost of goods sold for the year. Do not include any underapplied or overapplied overhead in your answer. Unadjusted cost of goods sold [ ] 5. Assume that the $38,000 ending balance in Work in Process includes $8,600 of direct materials. Given this assumption, supply the information missing below: Direct materials $8,600 Direct labor [ ] Manufacturing overhead [ ] Work in process inventory $38,000
E4-1 Classifying fixed and variable costs Classify each of the following items of factory overhead as either a fixed or a variable cost. (Include any costs that you consider to be semivariable within the variable category. Remember that variable costs change in total as the volume of production changes.) a. Indirect labor b. Indirect materials c. Insurance on building d. Overtime premium pay e. Depreciation of building (straight-line method) f. Polishing compounds g. Depreciation of machinery (units-of-production method) h. Employer’s payroll taxes i. Property taxes j. Machine lubricants k. Employees’ hospital insurance (paid by employer) l. Labor for machine repairs m. Vacation pay n. Janitor’s wages o. Rent p. Small tools q. Plant manager’s salary r. Factory electricity s. Product inspector’s wages
The question at hand is (b) below. The images attached are to help anmswer (b). Thank you. :) (b) Why is the amount of underapplied (overapplied) manufacturing overhead different from Requirement 2 above? (You may select more than one answer.) check all that apply The predetermined overhead rate changed.unanswered The change in the actual manufacturing overhead cost directly resulted in a comparable change in the amount of underapplied (overapplied) manufacturing overhead.unanswered The change in the estimated total amount of the allocation base affected the amount of manufacturing overhead applied.