Why must a company estimate the amount of factory overhead assigned to indivdual jobs or jobs lots
Q: Explain the allocation of job costs for a service company.
A: Job costing is defined as a method of recording thecosts of a manufacturing job, rather than…
Q: Required: What is the company's assembly department overhead rate using direct labor hours? The…
A: Assembly department overhead rate based on direct labour hours = Estimated manufacturing overhead of…
Q: Which of the following would be used to record the factory supervisor's salary? Manufacturing…
A:
Q: In a job-order costing system, direct labor cost is usually recorded as a credit to: а. Cost of…
A: Job order costing is a system of assigning the cost of production to a specific manufacturing job;…
Q: In a job-order costing system, direct labor cost is usually recorded as a credit to: O a. Cash or…
A: Introduction: Journals: Recording of a business transactions in a chronological order. Firsts step…
Q: Why is industrial overhead calculated using direct labor
A: This question explains about industrial overhead that which is using direct labor:
Q: Why do businesses apply overhead to tasks using fixed rates rather than real manufacturing overhead…
A: This question deals with real manufacturing overhead costs:
Q: Why is it necessary for a corporation to estimate the manufacturing overhead associated with…
A: This question explains about a corporation to estimate the manufacturing overhead associated with…
Q: Why do companies use predetermined overhead rates rather than actual manufacturing overhead costs to…
A: If actual manufacturing overheads are applied then costs are unknown. if calculated need to wait…
Q: Discuss the reason why companies use predetermined (factory) overhead rates rather than actual…
A: Actual Overhead expenses are the genuine expenses acquired and ordinarily incorporate things like…
Q: of the following is an example of direct labor? Salary of the vice-president of op
A: Direct Labour refers to the labour directly involved in the manufacturing process for producing the…
Q: Salary of factory manager is considered as direct labor. t or f
A: The cost of supervisory personnel, although they are needed to operate the factory, is classified as…
Q: Discuss why businesses apply overhead to projects using predefined (factory) rates rather than real…
A: This question deals with predefined (factory) rates and real manufacturing overhead expenses.
Q: Why would a manufacturing firm switch from direct labor hours to machine hours as the cost driverfor…
A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…
Q: Which one of the following represents a period cost? Fringe benefits associated with factory workers…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: A job order cost system records and summarizes manufacturing costs by jobs? True False
A: True, A job order cost system records and summarises manufacturing costs by jobs
Q: Provide an example of a manufacturing business that generally would use a job order cost system?
A: Job order costing is a method of costing which is specific job order driven. Job Order costing…
Q: In a job-order costing system, direct labor cost is usually recorded as a debit to: O a. Work in…
A: Hi student Since there are multiple questions, we will answer only 1st question if you want…
Q: Which of the following is NOT an element of manufacturing overhead? Sales manager's salary Plant…
A: Manufacturing overhead means the cost incurred indirect in factory for the production of goods.
Q: Which one of the following represents a period cost? a. Fringe benefits associated with factory…
A: Financial statements are statements which states the business activities performed by the company .…
Q: When and how to calculate the predetermined overhead rate?
A: The manufacturing overhead are applied to production on the basis of estimated activity rates.
Q: Factory Wages for plant supervisors are ordinarily: A) Debited to Work-in-Process B) Debitèd to…
A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…
Q: How would sales salaries be classified for a manufacturing company? Group of answer choices product…
A: Manufacturing company refers to the company which produces the finished goods from the RM (Raw…
Q: What document is used to determine the actual amount of direct labor to record on a job cost sheet?…
A: Direct Labor: Direct labor is that the variable cost that will increase with an increase within the…
Q: Why are some manufacturing firms switching from direct-labor hours to machine hours or throughput…
A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…
Q: Why aren’t actual manufacturing overhead costs traced to jobs just as direct materials and…
A: Manufacturing costs can be divided into two categories based on its allocation; direct costs,…
Q: Name two principal types of cost accounting systems. Which system provides for a separate record of…
A: Answer: The two principal types of cost accounting systems: 1. Job Order costing system This is 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: Why must a company estimate the amount of factory overhead assigned to individual jobs or job lots?
A: Overhead: It can be defined as the expense that is centrally incurred by the business in continuing…
Q: Discuss the reason why companies use predetermined (factory) overhead rates rather than actual…
A: Manufacturing overheads are the manufacturing costs that could not be directly associated with each…
Q: how to i get total direct labor for a company with hours and cost number available?
A: Direct labor cost: It is the cost of wages paid to the workers is called labor cost. The cost of…
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: How would salaries of supervisors in the factory be classified? Group of answer choices
A: A supervisor or employee in a factory is not directly involved in production process as a Direct…
Q: What information is recorded on a job cost sheet? How do management and employees use job cost…
A: Answer: The costs of manufacturing and job are accumulated on a different job expense sheet in a job…
Q: In what way does the accounting treatment of factory overhead differ from that of direct materials…
A: Factory overhead is defined as cost incurred during the process of manufacturing but not including…
Q: What do you think would happen if a company didn't use a job cost sheet? What are some specific…
A: Job Cost sheet Record of each job is maintained in a job-order costing system and it is served as a…
Q: How do I record factory labor costs?
A: Factory costs are those costs or expenses which are incurred through the business to manufacture the…
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: The entry to record the application of Factory Overhead to Jobs in a Job Order Cost system would be:…
A: Journal entries are the basic method of recording transactions. The job cost is used for measuring…
Q: How to calculate a the amount of balance in a job costs sheet
A: A job cost sheet is a document prepared by the company to calculate the total cost of a job. It is…
Q: B. Indirect labour charged to manufacturing Overhead
A: Option B is correct
Q: Some companies use labor cost to apply factory overhead to jobs. Identify another factor (or base) a…
A: The overheads or the indirect cost must be allocated to the respective departments in order to find…
Why must a company estimate the amount of factory overhead
assigned to indivdual jobs or jobs lots
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