36-Placing of a purchase order, setting up of a machine, after sales service, etc. are the examples of O a. activities O b. Cost centers O c. Cost objects O d. Cost drivers

Q: QUESTION 4 Indicate whether each of the following costs incurred by a manufacturer would be…

A: Direct material cost is cost incurred in relation to material purchased for the process of…

Q: 4. A transfer of direct materials, such as metal used to make the outer case of a vid system, into…

A: Under process costing, transfer is made from Raw Materials account to Work in process account when…

Q: - i. Sugar Factory: Order Cost Method ii. Bread Factory: Phase Cost Method iii. Apparel: Phase Cost…

A: When it comes to job costing, phase costing is utilized to determine stages or completion points for…

Q: ts caused by work delays   d. Materials-handling costs   e. Materials-procurement and inspection…

A: Given: The data is given as below,

Q: In backflush costing, the journal entry to record direct-labor costs incurred would include a a•…

A: Introduction:- Backflush costing is simple method to identify production cost. Under this method…

Q: D. Compute the following cost: i Prime cost ii. Conversion cost iii. Inventoriable cost iv.…

A: Since it was asked to solve part D and E. D and E part has been solved.

Q: Choose the most appropriate answer(s): Direct manufacturing labor costs is added into manufacturing…

A: Direct labour costs are those costs of labour which is directly engaged in production of goods and…

Q: I - If more overhead is applied to WIP than is actually incurred, then overhead will be overapplied.…

A: If more overhead is applied to WIP than is actually incurred, then overhead will be overapplied. If…

Q: Required: 1. Under a costing system that allocates overhead on the basis of direct-labor hours, the…

A: Under activity-based costing (ABC), Costs are allocated based on the activity and the cost driver…

Q: The ABC system improves the allocation of​ ________.   A. direct materials   B. sales commissions…

A: ABC system: Activity based cost system is widely used in the manufacturing industry. Under this…

Q: True or False 1. The weighted average method includes the work in process beginning inventory cost…

A: The equivalent units are calculated on the basis of percentage of the work completed during the…

Q: For each cost pool, identify an appropriate cost driver. a. order department b. accounts…

A: Cost Driver: The direct reason for a cost is referred to as a cost driver. Fixed expenses do not…

Q: 2. Show how to prepare a journal entry to enter direct materials costs into the WIP Inventory…

A: The costing method in which the raw materials are processed through various processes to make a…

Q: QUESTION 4 Indicate whether each of the following costs incurred by a manufacturer would be…

A: Product Cost - Product Cost is the cost incurred by the organization for the product of the entity.…

Q: for lamp manufacturing company the cost lamp stack describe ? a)conversion cost b)manufacturing…

A: Product Cost  Product cost is a cost that is used to manufacture or produce a product. Product cost…

Q: 1. The materials requisition:   a.informs the purchasing agent of the quantity and type of materials…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: Appropriate base to allocate purchase department cost to different products is? A. Machine Hour B.…

A: Absorption costing involves allocation of production expenses to product based on a parameter

Q: Required: 1. Identify reasons for entries (a) through (d). 2. Assume that the underapplied or…

A: 1) Identify reasons a Actual manufacturing overhead for the year b Applied manufacturing…

Q: Direct labor and direct materials are   a. period costs and expensed when the goods are sold   b.…

A: The different costs related to productions and selling are classified as product and period cost…

Q: 32- Which of the following are held as an after-sales service for products supplied to customers?…

A: A spare part, spare, service part, repair part, or replacement part, is an interchangeable part that…

Q: Activity Levels and Cost Drivers Shroeder Machine Shop has the following activities:a. Machine…

A: Unit level activities means the activities required to be performed each time the product is…

Q: The application of estimated manufacturing overhead to jobs is:     An asset use transaction.…

A: Asset use transaction: This is utilization of asset for expense payment or payment towards…

Q: Identify the correct sequence of the Activity Based Costing approach I. Identify the main activities…

A: Activity-based costing (ABC) is an accounting technique that utilizes cost attachment rather than…

Q: QUESTION 34 Which of the following statements is true? O Indirect costs are allocated to cost…

A: Cost can be allocated on basis of two categories such as direct cost and indirect cost. Direct can…

Q: 28.The cost accounting system that significantly reduces inventory carrying costs is called:     a.…

A: The Just-In-Time (JIT) idea is a manufacturing workflow paradigm that aims to reduce flow times and…

Q: 28-Identify the journal entry for normal wastage. a. Dr.Costing profit and loss account, Cr.Work in…

A: Note: The cost of normal loss is considered as part of the cost of production. Amount realizable…

Q: Which of the following entry is recorded when indirect materials are transferred to office dept.? a.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: For each item, identify all applicable cost labels. Use the following code in your answer: 1 —…

A: The answer is as follows: a. Advertising____ 2 — Period Cost b. Direct materials used____ 1 —…

Q: Required: 1. Compute the amount of (a) production costs transferred from Cutting to Stitching, (b)…

A: Cost of Goods Sold=Finished goods inventory, Beginning+Goods added-Finished goods inventory, Ending

Q: QUESTION 9 Identify the proper order of steps to be taken in an Activity-Based-Costing system. A.…

A: >There are various methods to allocate the overhead support costs that are not directly related…

Q: Select one: a. The balance in the Work-in-Process account after allocation will be higher if the…

A: Underapplied overhead occurs when a business’s expenses have increased than the budgeted expenses.…

Q: On the costs of goods manufactured schedule, the item raw materials inventory (ending) appears as…

A: Cost of goods manufactured: It is the total cost that is incurred for manufacturing the products and…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.