Answered: 11. To check the accuracy of hours…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter14: Quality And Environmental Cost Management

Section: Chapter Questions

Problem 5CE: Verde Company reported operating costs of 50,000,000 as of December 31, 20x5, with the following...

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10. If the 300 defective bolts(normal spoilage) were repaired and management wanted to be sure the incremental costs did not exceed the cost of producing new units, how would the rework costs be accounted for:

a. As normal materials, labor and overhead.

b. Charged to overhead and spread over the costs of all products.

c. Charged to those belts repaired.

d. Expensed as extraordinary.

11. To check the accuracy of hours worked, one would ordinarily compare time cards with:

a. employee earning records

b. payroll journal

c. job time tickets

d. personnel records

12. The document that is used to secure information as to the type of work performed is the:

a. clock card

b. labor voucher

c. time ticket

d. requisition report

13. An example of fringe benefit is:

a. the direct labor wage rate.

b. the employee health insurance.

c. withheld taxes.

d. overtime pay.

Definition Definition Benefits in addition to compensation that companies give to their employees. Fringe benefits can boost morale and productivity and keep employees motivated. Companies often use fringe benefits as a competitive advantage to recruit and retain employees. Examples of fringe benefits include pensions, vacation time, tuition reimbursement, free or subsidized meals, and gym memberships.

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