What would be the classification of depreciation of office building as to (1) variability, (2) relation to a product, and (3) planning, control and analytical purposes, respectively? * a.Variable, product cost, out-of-pocket cost. b.Fixed, period cost, sunk cost. c.Fixed, product cost, out-of-pocket cost. d.Variable, period cost, sunk cost.

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: In a process account, abnormal losses are valued: A. at their scrap value. B. the same as good…

A: 1 An odd loss happens whilst anticipated output exceeds real output. 2 The scrap value of an odd…

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: cost of that spoilage

A: First option is wrong because the cost of normal spoilage is not included in the cost of units…

Q: What would be the classification of depreciation of office building as to (1) variability, (2)…

A: Fixed costs: Fixed costs are those costs that do not change with the production process or with the…

Q: Which of the following costs would be considered a period rather than a product cost in a…

A: The product costs are the costs that are directly or indirectly related to the production process.…

Q: Costs for which of the following activities should not be included in research and development…

A: R&D activities which help in developing or improving the process of production include designing…

Q: Classify the following manufacturing costs of Business Solutions as either (a) variable (V) or fixed…

A: Introduction:   We can separate expenses of a company into different categories. These are termed…

Q: cost and 'Depreciation on manufacturing equipment' is a 'depreciation on office equipment' is a…

A: Product Cost: All the manufacturing costs are categorized as product costs.  Period Cost: All the…

Q: Which of the following cost includes determining how much to order, cost of invoices, clerical labor…

A: Sunk cost refers to money that has already been spent and which can not be recovered. Sunk costs are…

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: The following are classified under period costs, except: * 1 point a. Depreciation of…

A:

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: Classify each of the following items as a cost, expense, loss, or other category, and explain how…

A: Cost of goods sold Cost of goods sold (COGS) refers to the direct costs of producing the goods sold…

Q: What is the unit cost of the goods transferred to the storeroom if the loss is charged to total…

A: Given is: Job units = 500 Direct materials = $80000 Direct labour = $30000 Factory Overhead = 50% of…

Q: Which among the following alternative methods of costing is related to the best use of physical…

A: Since you have asked multiple questions, we will answer the first full question for you. Please…

Q: Which of the following would be the most appropriate basis for allocating the costs of plant…

A: Definition: Property, plant, and equipment: These assets are long-lived economic resources which are…

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A: Semi-variable cost includes both fixed and variable costs. In this, most of the part is fixed but…

Q: Which of the following is an example of a cost that varies in proportion to changes in the activity…

A: Packaging costs is the variable cost which varies with the total output. It will increase with the…

Q: Which of the following accounts would be a period cost rather than a product cost? a   Freight out.…

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A: Cost of Good Quality is incurred in order to reduce the Cost of Poor Quality, so that overall Cost…

Q: Which of the following costs may be classified as non-manufacturing costs? į Fuel costs of the…

A: Non manufacturing costs are the costs that are not related to manufacturing. The following costs may…

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

A:

Q: In a manufacturing company, which of the following will affect gross profit? A change in the…

A: Manufacturing company is the company which uses the components, raw materials as well as parts in…

Q: g form

A:

Q: Which among the following is not a relevant cost for decision making? a. Cost of producing…

A: Relevant Cost refers to the incremental and avoidable cost of implementing a business decision.…

Q: Explain briefly how with examples

A: Environmental accounting: It is the process of reporting the usage of natural resources available in…

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A: Organisation related costs are those costs which are incurred for the entire organisation as a…

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A: Repairs and Maintenance Expense: The cost that is paid to guarantee that an asset continues to…

Q: On the costs of goods manufactured schedule, depreciation on factory equipment. is not listed…

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

Q: Which of the following is not an example of a cost that varies in total as the number of units…

A: Option a is correct. As the production happens there is usage of machinery which will increase the…

Q: In a make or buy decision, the relevant costs include variable manufacturing costs as well as A.…

A: The only costs that are relevant in a make or buy decision are those which are affected by the…

Q: . Describe how to present the applicable dollar amounts for the following items in the financial…

A:

Q: Which of the following expenditures or activities would be considered as R & D? a. Marketing…

A: R & D expenditures or activities means those expenditures or activities which are incurred for…

Q: Which one of the following discretionary fixed cost? The salary of the deputy manager of the factory…

A: Discretionary cost is the cost can be eliminated or reduced without  at the discretion of the…

Q: Listed below are product costs for production of footballs. Classify each cost as either variable…

A: Fixed cost: Fixed cost represents those costs which are fixed and do not change with the level of…

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: As a production manager, what reasons would I have to suggest to management if I believe the firm…

A: Depreciation means decline in the estimation of benefit inside its valuable life because of mileage…

Q: lease solve this MCQs How would property taxes paid on a factory building be classified in a…

A: Fixed costs: Fixed costs are the predetermined expenses that remain costant throughout a specific…

Q: Which of the following statements is true of raw materials? ) a) They are categorized as consumer…

A: Raw material known as Unprocessed material, that is basic material from which a final product to be…

Q: The type of process loss that should not be allowed to affect the cost of good units is called? a.…

A: Process costing is one of the method of cost accounting, which is used in industries where product…

Q: During the production process, company incurred normal spoilage and abnormal loss. Such losses are…

A: Normal loss are those losses which is unavoidable therefore included in the cost of good units in…

Q: Which of the following represents the cost of materials purchased but not yet issued to production?…

A: Introduction: Finished goods : After completion of all the stages of manufacturing the product…

Q: Discrete production losses are assumed to occur uniformly throughout the process. a. Both…

A: Weighted average method is a method employed in process costing to quantify the number of units and…

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 .…

Contract Costing

Contract costing is about tracing particular costs related to a particular contract entered into with the customer. It is one of the forms of job order costing. It is useful in long-term contracts at the most. It is seen that substantial time is required for the completion of the contract which takes different accounting periods. Thus, it is very much helpful for recognizing the costs associated with it and accounting in their specific accounting periods.