The cost of inefficiencies caused by labour strikes is incurred in the cost of warehouse construction. True or not? Explain referring to the IAS 16 Property, Plant and Equipment (Paragraphs 21).

Q: . In a job-order costing system, the recovery value of scrap that is significant in economic value,…

A: SOLUTION- JOB ORDER COSTING SYSTEM IS A METHOD WHICH IS USED TO DETERMINE THE COST OF MANUFACTURING…

Q: Which of the following is NOT included in material handling cost at a warehouse? O A. Labor O B.…

A: Material handling costs are a form of indirect costs being incurred in production activity. It means…

Q: Is the cost of disposing of hazardous waste materials result-ing from factory operations a product…

A:

Q: 6) Which of the following costs would be included as part of factory overhead? depreciation of plant…

A: Factory Overhead are Cost incurred in Manufacturing process which is not directly attributed to a…

Q: Which of the following is not likely to be treated as product cost? Depreciation on the factory…

A: Product cost means the cost of producing one unit of finished goods. Period cost means the cost that…

Q: Which one of the following is an example of a period cost? Maintenance on factory machines O Wages…

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

Q: Depreciation of Machinery would not be an element of factory overhead? Select one: O a. True O b.…

A: Factory overheads consist of -  Factory expenses like factory rente,  Factory insurance  Energy cost…

Q: Which of the following is not part of manufacturing overhead for producing a computer? a.…

A: Answer:   Option c.

Q: Which of the following would not be classified as manufacturing overhead? Select one: a. property…

A: The profitability position of the company can be arrived from the income statement of the company…

Q: which one of the following is not an example of a committed fixed cost

A: The fixed cost which incurred due to the past commitments of the organisations is called the…

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

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

Q: Which of the following costs is not a product cost? * 1 point a. Depreciation on the plant installed…

A: Production or product costs allude to the expenses acquired by a business from assembling a product…

Q: Which of the following items is an indirect cost? A. The rent of the factory in which products are…

A: explanation : A. The rent of the factory in which products are madeB. The wages of the production…

Q: 18. Which one of the following would not be classified as manufacturing overhead? a. Indirect labor…

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

Q: Which of the following is a TRUE statement regarding the treatment of scrap by a firm? a. Scrap is…

A: Scrap: Scrap is basically the residual material that left after the manufacturing of a product.…

Q: Which of the following would not generally be considered a fixed overhead cost? a. Straight line…

A: Fixed overhead costs are those fixed indirect expenses in the business which are incurred in the…

Q: Depreciation of Machinery would not be an element of factory overhead? Select one: a. True b. False

A: Factory overheads include all the indirect expenses incurred in the production process.

Q: Which of the following represents the accumulated costs of incomplete jobs? O a. None of the given…

A: Following is the answer to the given questions

Q: Which of the following would not be an element of factory overhead?

A: Factory Overhead are not direct cost like direct materials and direct labor however they are helpful…

Q: The cost of wages paid to employees directly involved in converting materials to finished product is…

A: Finished product are those goods which are completed in all respect but not yet sold. In simple,…

Q: Two positions have normally been taken with respect to the recording of fixed manufacturing overhead…

A: Fixed manufacturing overheads: The cost which is incurred on the manufacturing of the product…

Q: Which of the following is not a product cost? O a. Indirect labour O b. Insurance on the plant Oc.…

A: Product costs are manufacturing costs that are related to production.

Q: Which would NOT be relevant in a make- or- buy decision? a) factory deprciation b) direct materials…

A: The cost can be classified into two categories i.e fixed cost and variable cost. The  FIxed cost…

Q: Who of the agreed in advance is not a cost of the product? The cost of the factory's fuel The…

A: Product cost:- Product cost is the cost which incurred to manufacture a product. It means it is a…

Q: Which of the following is not a product cost? O a. Insurance on the plant O b. Raw materials used O…

A: Product cost means the cost of producing one unit of finished goods. Period cost means the cost that…

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

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

Q: Which one of the following is not an example of a committed fixed cost? a. The salary of the deputy…

A: Fixed cost refers to those cost which do not change with increase or decrease in production…

Q: “Abnormal rework costs should be charged to a loss account, not to manufacturing overhead.”Do you…

A: Rework:Rework is that type of product that is not satisfy the ultimate needs of the consumer but by…

Q: An example of a period cost isa. the salary of a production supervisor.b. the raw materials used in…

A: Period cost: It can be defined as the cost that is not directly related to the process of…

Q: Depreciation of a factory equipment is treated as ____, while deprecation of an automobile used for…

A: Manufacturing overhead is the indirect cost that is spent in the manufacturing process. Examples of…

Q: In a manufacturing business, which of the following is not a fixed asset? O Delivery vans O Loose…

A: Fixed assets: These are the assets which were used in the business for more than one year. These…

Q: Which one of the following is not an example of a committed fixed cost? O a. None of the given…

A: Introduction:- Fixed costs incurred irrespective of the manufacturing or sales level. Costs such as…

Q: Which of the following would not be classified as manufacturing overhead?   a.indirect labor…

A: Product costs are the cost associated with the making of a product. They include direct materials…

Q: Which one of the following is not an example of a committed fixed cost? O a. The property taxes of…

A: Option c is correct.

Q: Depreciation of a factory equipment is treated as ____, while deprecation of an automobile used for…

A: Manufacturing overhead is the indirect cost that is spent in the manufacturing process. Examples of…

Q: in a job-order costing system, the recovery value of scrap that is significant in economic value,…

A: in a job-order costing system, the recovery value of scrap that is significant in economic value,…

Q: Statement 1: Manufacturing overhead is an indirect cost with respect to units of product. Statement…

A: The manufacturing costs include of the product cost that are directly or indirectly related to the…

Q: Which of the following is NOT included in the flow of costs of a manufacturing company? Select the…

A: Purchase of raw materials form part of manufacturing cost Factory labor cost form part of…

Q: Which of the following is a part of Prime Cost? a. Direct Labour b. Indirect Wages c. Rent of…

A: Prime cost includes all the direct costs such as direct material, direct labor, and direct expenses.…

Q: The cost of inventories shall comprise all costs of purchase, costs of conversion and other costs…

A: As per IFRS on Inventory valuation  The following  are not included  in Cost of inventory…

Q: Which of the following is an example of a variable cost? a.Insurance on the production equipment…

A: Variable cost are those cost which changes according to the level of Production. In other words in…

Q: Which of the following costs is not relevant when considering the closure of a department within a…

A: The decision to close a department is based on contribution and not on net profit /loss due to the…

Q: Which of the following costs would not be classifled as factory overhead? Multiple Cholce Insurance…

A: Factory overhead :  Factory overhead is the indirect cost estimated and expensed by the…

Q: The oil used to maintain the production equipment in working order is an example of a.direct…

A: The word "indirect materials" refers to one or more things that are required to complete a…

Q: Which one of the following is an example of a discretionary fixed cost? O a. The property taxes of…

A: Discretionary fixed cost means that cost which is up to our discretion whether to spent it or not .…

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.