Describe the overtime-premium and idle-time categories of indirect labor?

Q: Which document is used by cost accounting to allocate direct labor charges to work-in-process?

A:

Q: Among time basis and piece rate basis of wages payment which one will be beneficial for a less…

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

Q: Explain why an overtime premium is included in manufacturing overhead.

A:

Q: Which one of the following is a fixed cost? a. Raw material costs b. Salary with commission c.…

A: A fixed cost is one that does not adjust in the short term, even though a company's sales volume or…

Q: Distinguish between direct labor and indirect labor.

A:

Q: where the line is drawn between direct and indirect labor, is direct labor at an employee level or a…

A: Direct Labour is labour or workers that are directly engaged in production of goods. Indirect labour…

Q: Which of the following statements related to job cost sheets is TRUE?

A: Job cost sheet:- Job cost sheet is the sheet that is prepared by manufacturing industry companies.…

Q: Explain the treatment of over and under absorption of overheads in cost accounts?

A: Overheads: These are defined as the expenses incurred in relation to an ongoing business. These are…

Q: how do I find total over- or underapplied fixed manufacturing overhead?

A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…

Q: What is a predetermined overhead rate, and how is it computed?

A: Predetermined overhead rate: Predetermined overhead rate is calculated befor the period begins. This…

Q: What are the differences between a product cost and a period cost

A: In accounting we say that costs are often product costs or period costs. The difference between the…

Q: Why is industrial overhead calculated using direct labor

A: This question explains about  industrial overhead that which is  using direct labor:

Q: How is predetermined overhead rate established? How is it used to apply overhead?

A:

Q: What is underapplied overhead? Overapplied overhead? What disposition is made of these amounts at…

A: Over-applied manufacturing overhead: If the manufacturing overhead cost in the work process is more…

Q: What is the formula to compute the predetermined overhead allocation rate?

A: Predetermined Overhead Rate: Predetermined overhead rate is a measure used to allocate the estimated…

Q: Define labour time record.

A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…

Q: What is a predetermined overhead rate, and what is it used for?

A: A overhead  is an indirect  expense  incurred  to operate the  organization

Q: What are the differences between Underapplied Factory Overhead and Overapplied Factory Overhead?

A: Overhead: Overhead cost means expenses referred to indirect cost. The overhead cost like rent,…

Q: An example of labor-related costs is:   bonus pay factory labor fringe benefits operating expense

A: The labor costs include the wages and salaries paid to employees.

Q: What adjustment is made for underapplied overhead on the schedule of CoGS? What adjustment is made…

A: Underapplied overhead is added to cost of goods sold thus increases the total cost of goods sold.

Q: Which of the following costs would not be inventoriable?  Indirect labor cost Office rent factory…

A: Inventoriable cost means the cost which will be considered while valuing the inventories. Only the…

Q: What are the arguments in favor of treating fixed manufacturing overhead costs as product costs?

A: Following are the arguments in treating fixed manufacturing overhead costs as product costs: For…

Q: Explain how fixed manufacturing overhead costs are shifted from one period to another under…

A: Absorption Costing:   It is a type of costing where all the manufacturing costs are absorbed by the…

Q: define direct manufacturing-labor costs?

A: Cost: It refers to the economic value incurred by a company to produce a product or deliver a…

Q: What is meant by the term overhead application rate ?

A: Overhead: It refers to an ongoing or continuing expense that is centrally incurred by a company in…

Q: Describe the overtime-premium categories of indirect labor.

A: Over-premium labor cost is the indirect cost of labor paid for the extra time of work to the labor.

Q: Among time basis and piece rate basis of wages payment which one will be beneficial for a less…

A: Time basis and piece rate basis are two methods of wage payment. Under time basis, workers are paid…

Q: Which factors contribute to the cost of direct labor?

A: Direct labour refers to the labour which is directly related to the production of products of any…

Q: Explain how overhead is assigned to production when a predetermined overhead rate is used?

A: Overhead is kind of cost or expenditure which is not directly related to manufacturing but somehow…

Q: How is the predetermined overhead allocation rate used by service companies?

A: Definition:   Manufacturing Overheads:   Predetermined manufacturing overhead rate is the rate that…

Q: Under which of the following labour remuneration methods will direct labour cost always be a…

A: We have the following question: Under which of the following labour remuneration methods will direct…

Q: hat is distinguish between product and period cos

A: Product costs are the costs directly linked with the creation of a product or service for sale.…

Q: Overtime salary and Nightshift allowance are examples of _______. A. Direct Labour cost B. General…

A: Overtime salary and night shift allowance is paid to employees for working beyond prescribed working…

Q: s relevent cost of direct labour

A: Direct Labor: Direct labor includes personnel that are directly concerned within the production…

Q: How do you explain the phrase," Fixed overheads consist of costs which are not subject to change…

A: The costs incurred on the production are distinguished as fixed and variable cost.

Q: Which one of the following would not be classified as manufacturing overhead? a Indirect labor b…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Determine the amount of underapplied or overapplied manufacturing overhead for the period.

A: We can get to understand underapplied or overapplied manufacturing overhead by assuming some…

Q: What is a predetermined overhead rate?

A: Overhead Cost: Overhead cost is the expense incurred in the operations of a business. This expense…

Q: Why are fixed-overhead costs sometimes called capacity-producing costs?

A: Overhead costs Overhead cost or overhead expenses refer to the cost which is used to increase the…

Q: What is your understanding about labor relation?

A: Labor relations seems to be the term used to describe the process through which employers and…

Q: Explain the following - A. Recording labour costs involves two interlocking double entries,…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: In traditional approach, overheads are absorbed based on: a. Machine hours b. Direct labour c. All…

A: In the traditional costing approach, overhead is usually absorbed on the basis on direct labor but…

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.