Which of the following items is an indirect cost? A. The rent of the factory in which products are made B. The wages of the production supervisor C. wages paid to labourer in the production of the product. D. The cost of the glue used to attach labels to the products.

Q: Which one of the following represents a period cost? 1) The VP of Sales' salary and benefits 2)…

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

Q: Which of the following would most likely be a product cost? O A. Salary of VP of sales O B.…

A: Product cost includes all those costs which are directly attributable to the process of converting…

Q: Identify which of the following transactions andevents are product costs and which are period…

A: The costs which can directly be attributed to a product is known as Product costs. The costs which…

Q: Which of the following is correct with respect to closing out underapplied manufacturing overhead to…

A: Overapplied manufacturing overhead occurs when applied overhead exceeds actual overhead.   The entry…

Q: Identify each of the following costs as either a product cost (PROD) or a period cost (PER). Factory…

A: Product costs: It is the cost that is associated directly with production of goods and comprises of…

Q: Identify the following costs as a product cost or a period cost for an automobile manufacturer:a.…

A: Product costs: Product costs are the costs which are incurred in the production of the goods. These…

Q: Which of the following would be classified as indirect production overhead cost in a food processing…

A: Indirect production overhead are those indirect expenses of the business which are incurred for…

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: Which of the following is NOT included in computing product cost?     Multiple Choice   Cost of…

A: The product cost comprises of the total cost incurred for the production of the goods.

Q: Which of the following costs would not be part of productinventory costs for a manufacturer such as…

A: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare the…

Q: IDENTIFY THE FOLLOWING COST FOR THE PRODUCTION AND SALE OF A LAWN MOWER COMPANY WHETHER DIRECT…

A: Product cost: Product costs are the costs which are incurred in the production of the goods. These…

Q: assify each of the costs as either a product or period cost. Then, classify each of the product…

A: Product cost is included within the inventory valuation, that is simply opposite in the case of…

Q: When will cost of goods sold will equal the cost of goods manufactured?   when work-in-process…

A: Particulars Amount Ending finished goods inventory xxxx Add: Cost of goods sold xxxx…

Q: Which of the following product costs incurred by a paper manufacturer would NOT be included in the…

A: The total cost incurred on the making or production of the goods is known as the product cost. It…

Q: Which of the following is the correct flow of manufacturing cost? Raw materials, work in process,…

A: Solution: Flow of manufacturing cost means, sequence in which costs are converted such as finished…

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 costs would be included in the cost of a manufactured product according to…

A: Under variable costing method, only variable cost considered and included in production cost and…

Q: Direct labor cost incurred during the period? Cost of goods placed in process? Cost of goods…

A: Prime costs in the business means direct materials and direct labour costs incurred in business.…

Q: How do we calculate factory cost? Prime cost + Opening WIP- Closing WIP+ Factory Overhead b. Total…

A: Factory cost includes the cost incurred on the factory on the goods that are meant to sold.

Q: Indicate whether each of the following should be considered a product cost or a period cost. If you…

A: Direct  product cost is the cost incurred  to manufacture  a product  that can be directly…

Q: Determine whether each of the following costs should be classified as product costs or period costs.…

A: Product costs are those costs that are associated with the process of manufacture and period costs…

Q: Which of the following costs is not a product cost?  Depreciation on the plant installed in the…

A: Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: Which of the following is used when raw materials are purchased to be used in the manufacturing…

A: The raw materials are purchased for the production purpose in the business.

Q: which of the following is a product cost for a manufacturing company : a- insurance on the…

A: Product cost includes all the costs involved to create a product i.e direct material, direct labour…

Q: The controlling account for the job cost sheets is a.Finished Goods b.Materials c.Work in Process…

A: A job cost sheet is indeed a list of a task's real expenses.  The accounting department creates the…

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: In what way does the accounting treatment of factory overhead differ from that of direct materials…

A: Factory overheads include all indirect costs incurred during the manufacturing process to maintain…

Q: Indicate whether the following costs of Procter & Gamble, a maker of consumer products, would be…

A: Direct Material Cost Direct material cost is the cost of the raw materials and components used to…

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

A: Variable costs: These costs are incurred in conjunction to the volume of goods produced or sold. It…

Q: Which of the following is the correct flow of manufacturing costs? * Raw materials, work in process,…

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

Q: Production costs are inclusive of the following EXCEPT:   Selling and Distribution costs…

A: Production costs refer to the expenses that are directly associated with the process of production.…

Q: Classify the following costs as either production or non-production Depreciation of plant…

A: Production Cost: This cost is directly related to the production of goods. These costs are generally…

Q: Which of the following costs may be classified as direct costs of a toy manufacturer? i Plastic used…

A: Direct cost is directly involved in the production process like material used directly in the…

Q: Should design of cost be in factory overhead? Explain why

A: Factory overheads are the costs related to the manufacture of the goods.

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 of the following is not considered a cost of manufacturing a product? Group of answer choices…

A: Total manufacturing cost, or simply the cost of producing the things that will be sold to customers,…

Q: Indicate whether the accounts below are used in the cost flow for a manufacturer, a service…

A: The cost of service is part of the service provider and the Cost of goods sold, Factory overhead,…

Q: When manufacturing overhead is applied to production, it is added to A. the cost of goods sold…

A: In cost accounting, the cost sheet generally is a statement which consists of various costs incurred…

Q: Which of the following costs at a manufacturing company would be treated as a product cost under…

A: The product costs are the costs which are directly related to the production. The variable costing…

Q: Indicate whether the following costs of Procter & Gamble (PG), a maker of consumer products, would…

A: Direct Material costs- Costs incurred to procure materials that are directly consumed in the…

Q: What is the effect on the cost of goods sold and net operating income, if the cost of factory…

A: If cost of factory overhead applied are greater than the cost actual factory overhead, cost of goods…

Q: Which of the following is not a manufacturing cost category? a)Cost of goods sold b)Direct materials…

A: MANUFACTURING COSTS INCLUDE -   - direct material - direct labor - manufacturing overheads.

Q: When a manufacturing company uses direct labor, it assigns the cost by debiting a. Work-in-Process…

A:

Q: Which of the following is a period cost? a. direct materials   b. indirect materials   c. factory…

A: The question is based on the concept of Cost Accounting.

Q: Indicate whether each of the following should be considered a product cost or a period cost. I you…

A: Direct costs: Costs which are directly traceable to the product called direct cost. Example : Direct…

Q: Under what conditions might a company use activity-based costing to allocate factory overhead to…

A:

Q: Which of the following costs are conversion costs? a.direct materials cost and factory overhead…

A: Introduction: The costs of transferring raw materials into finished goods are known as conversion…

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.