What is the direct labor cost plus manufacturing overhead cost? Show
What is the manufacturing costs associated with the goods that were finished during the period? Cost Of Goods Manufactured What is a cost that can be easily and conveniently traced to a specified cost object? What are factory labor costs that can be easily traced to individual units of product. Also called touch labor? What are materials that become an integral part of a finished product and whose costs can be conveniently traced to it? What are units of product that have been completed but not yet sold to customers? What is a cost that remains constant, in total, regardless of changes in the level of activity within the relevant range. If this is expressed on a per unit basis, it varies inversely with the level of activity? What is a cost that cannot be easily and conveniently traced to a specified cost object? What are the labor costs of janitors, supervisors, materials handlers, and other factory workers that cannot be conveniently traced to particular products? What are small items of material such as glue and nails that may be an integral part of a finished product, but whose costs cannot be easily or conveniently traced to it? What are all manufacturing costs except direct materials and direct labor? What are costs that are taken directly to the income statement as expenses in the period in which they are incurred or accrued? Selling and Administrative Expenses What is direct materials cost plus direct labor cost? What are all costs that are involved in acquiring or making a product. In the case of manufactured goods, these costs consist of direct materials, direct labor, and manufacturing overhead? What are any materials that go into the final product? What is a schedule showing the direct materials, direct labor, and manufacturing overhead costs incurred during a period and the portion of those costs that are assigned to Work in Process and Finished Goods? Schedule of Cost of Goods Manufactured What is a cost that has already been incurred and that cannot be changed by any decision made now or in the future? What is a cost that varies, in total, in direct proportion to changes in the level of activity. A variable cost is constant per unit? What is units of product that are only partially complete? What is a costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in the cost of a product? What is a costing system used in situations where many different products, jobs, or services are produced each period? What is a credit balance in the manufacturing overhead account that occurs when the amount of overhead cost applied to Work in Process exceeds the amount of overhead cost actually incurred during a period? What is the process of charging manufacturing overhead cost to job cost sheets and to the work in process account? What is a rate to charge manufacturing overhead cost to jobs that is established in advance for each period. It is computed by dividing the estimated total manufacturing overhead cost for the period by the estimated total amount of the allocation base for the period? Predetermined Overhead Rate What is a costing system used in situations where a single, homogenous product (such as cement or flour) is produced for long periods of time? What is a debit balance in the Manufacturing Overhead account that occurs when the amount of overhead cost actually incurred exceeds the amount of overhead cost applied to Work in Process during a period?
What type of cost can be easily and conveniently traced to a specified cost object?A direct cost can be traced to the cost object, which can be a service, product, or department. Direct and indirect costs are the two major types of expenses or costs that companies can incur. Direct costs are often variable costs, meaning they fluctuate with production levels such as inventory.
Are those costs that can be easily and accurately traced to a cost object?(1) Direct costs are costs that can be traced easily and accurately to a cost object. (2) Indirect costs are costs that cannot be traced easily and accurately to a cost object.
Which cost can be conveniently traced into a identified with the product manufactured?Direct Costs
A direct cost includes raw materials, labor, and expense or distribution costs associated with producing a product. The cost can easily be traced to a product, department, or project. For example, Ford Motor Company (F) manufactures cars and trucks. A plant worker spends eight hours building a car.
Is an integral part of a finished product and their costs can be conveniently traced to it?Direct materials are an integral part of a finished product and their costs can be conveniently traced to it. b. Indirect materials are generally small items of material such as glue and nails.
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Is a cost that can be easily and conveniently traced to a specified cost object?
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