Which one of the following costs can be accurately identified as forming part of a cost centre?   A. Primary material B. Salary of the factory supervisor C. Indirect material D. Maintenance material

Q: dentify the best description of job order costing.   A practice of substituting an expected cost…

A: Job order costing is a method of costing where the manufacturing cost of each job is identified by…

Q: The reason for charging indirect costs to cost centres is to: A. Calculate the cost of direct…

A: Lets understand the basics. Indirect costs are cost which are not directly related to product or…

Q: Cost Accounting - Process costing The analysis of the activity in a department or cost center for a…

A: Process costing is a costing system wherein a large number of products have been produced and cost…

Q: Describe the two-stage allocation process for assigning support service costs to products in…

A: The method involves identifying and allocating costs to multiple cost objects known as cost…

Q: Choose the option that has the most accurate list of elements of a manufacturing cost. Direct…

A: The manufacturing costs include all the direct and indirect cost related to the production process.…

Q: This topic is about Cost Accounting. Please check the picture for the problem. Requirement:…

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Q: Which of the following statements is true? a. Indirect materials and indirect labor are included in…

A: The true statement is "Indirect materials and indirect labor are included in the manufacturing…

Q: how useful is the activity based costing information isto the internal users in the organisation?…

A: Activity based costing is an approach to the costing and monitoring of activities and costing final…

Q: Which of the following will be included in manufacturing overhead costs? O A. Salaries of salesmen O…

A: Manufacturing overhead cost refers to those indirect factory related cost which is incurred in order…

Q: Certain businesses attach manufacturing overhead to tasks based on labor costs. Determine another…

A: To determine the actual cost of product sales, overheads or indirect costs must be assigned to the…

Q: The first step in applying the activity-based costing method is a. Identifying the cost drivers b.…

A: Activity Based Costing: Activity-based costing is a costing method in which a company identifies…

Q: The most important element of cost in manufacturing industries is : Select one: a. Labor b. Material…

A: Cost: It refers to the aggregated amount that is spent by the business in the process of…

Q: If selling and administrative expenses are allocated to different products, they should be reported…

A: Period costs: These costs are not related to inventory, hence, they are not added to inventory…

Q: Activity based costing

A: Definition: Costing: Costing is calculated as an amount spent by the company in order to produce a…

Q: Please help me understand how to find direct labor and total manufacturing costs.

A: Cost accounting is one of the important field of accounting, under which several type of costs are…

Q: Labor related to manufacturing of product can be classified under: direct manufacturing labor costs…

A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

Q: What is the most important purpose of the cost of production report

A: Given: The importance and use of cost of production report.

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: In case product produced or jobs undertaken are of diverse nature, the system of costing to be used…

A: SOLUTION EXPLANATION- JOB COSTING IS AN ACCOUNTING METHOD DESIGNED TO HELP YOU TRACK THE COST OF…

Q: What is the difference between a Job Order Cost System and a Process Cost System?  Give an example…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

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

A: There are two type of cost-Product cost and period cost Product cost-these cost are directly related…

Q: Using the ABC system, how much total manufacturing overhead cost would be assigned to Product Y?

A: In order to know the total manufacturing overhead cost assigned to Y, we need to first calculate the…

Q: Which of the following is true of a production report prepared under a process-costing system? a. It…

A: Process costing is a cost accounting system in which production is carried out at multiple stages…

Q: Which of the following does not accurately describe the application of job-order costing? a.…

A: Job costing includes the aggregation of the expenses of materials, overhead and labor for a…

Q: Explain how a sales order, a production order, a materials requisition form, and a labor time…

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Q: Describe the two-stage allocation process for assigning support service cost to products in a…

A: There are two types of departments in the business, one is production departments and other is…

Q: Which characteristic is the same in both job order costing systems and process costing systems? a.…

A: Job order costing system: Companies that manufacture unique products or provide specialised services…

Q: how to allocate manufacturing overhead by department?

A: Manufacturing overhead costs: The costs, which do not relate openly with the manufacturing of…

Q: traditional enterprise, the flow of costs through the system is a.work-in-process inventory,…

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Q: "ABC is a costing method that allocates overhead and indirect costs to related products and…

A: Answer:

Q: Match each item with the correct statement below.     actual cost system…

A: A system of cost accounting is the framework that is used for ascertainment of product cost,…

Q: (i) Select a suitable cost driver for each item of overhead expenses and calculate the cost per unit…

A: Activity-based costing is a method in which the cost of the organization is allocated among the…

Q: Why should the accountant distinguish between transferred-in costs and additional direct material…

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

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

A: The answer for the question on cost design is discussed hereunder : Design of Cost aims at reducing…

Q: What is the proper order of tasks in an ABC system?   a.identify the cost pools, identify the cost…

A: Under ABC costing, the overhead is applied to production one the basis of different activities being…

Q: Which one of the following costs can be accurately identified as forming part of a cost centre?…

A: A cost centre is a department or segment that incurs costs but does not generate revenue. Examples…

Q: During production, to what are the costs in job order costing applied?A. manufacturing overheadB.…

A: Job order costing system is generally used by the entities involved in the production of goods which…

Q: Cost that arises during manufacturing maybe classified according to element, nature, function or…

A: Lets understand the basics. On the basis of nature, cost is divided into two types. (1) Direct cost…

Q: During production, how are the costs in process costing accumulated?A. to cost of goods soldB. to…

A: Cost accounting is one of the useful branch of accounting that is being used for the purpose of…

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: Is Manufacturing Overhead cost allocated to jobs by precisely identifying the overhead cost of each…

A: Manufacturing Overhead Costs are allocated generally on the basis of predetermined overhead rates.…

Q: Which of the following are categories of costs that are found in the Manufacturing account? A.…

A: The manufacturing account lists all of a company's production costs for products produced within a…

Q: Why should the accountant distinguish between transferred-in costs and additional direct materials…

A: Cost:  Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

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

A: