for lamp manufacturing company the cost lamp stack describe ? a)conversion cost b)manufacturing overhead cost c)period cost d)product cost

Q: QUESTION 4 Indicate whether each of the following costs incurred by a manufacturer would be…

A: Direct material cost is cost incurred in relation to material purchased for the process of…

Q: Using the weighted average method - Calculate the equivalent units of production for materials and…

A: Weighted Average Cost Method: In this method the cost of opening work-in-progress (WIP) and cost of…

Q: Prepare estimated unit product costs for Product A and Product B where overhead costs are charged to…

A: Under Absorption Costing, Product cost is computed by allocating the indirect overheads, on the…

Q: Conversion costs are: A. direct material, direct labor, and manufacturing overhead. B. direct…

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

Q: Conversion cost consist of A) direct materials and direct labour B) direct labour and manufacturing…

A: There are two types of costs - 1. Prime Cost 2. Conversion Cost This costs are required to prepare…

Q: For a printing company, the cost of paper is classified as a:  A Period cost.  B Direct…

A: The direct materials cost include the costs related to direct raw materials used for production.

Q: The following may be included in the cost of inventories, except:   a. Selling costs b. Wasted…

A: Inventoriable cost means the cost incurred to manufacture the product and included in inventory.…

Q: Conversion costs are a. direct materials plus direct labor. b. direct labor plus manufacturing…

A: Conversion cost:  Cost of changing the materials into a finished product. It includes direct labor…

Q: Conversion costs are direct materials plus direct labor. direct labor plus manufacturing overhead.…

A: Conversion Cost: Conversion cost can be defined as the summation of manufacturing overhead and…

Q: D. Compute the following cost: i Prime cost ii. Conversion cost iii. Inventoriable cost iv.…

A: Since it was asked to solve part D and E. D and E part has been solved.

Q: Identify each of the following costs as either a product cost or a period cost. Factory maintenance…

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

Q: Which of the following is a conversion cost?A. raw materialsB. direct laborC. sales commissionsD.…

A: Conversion costs seem to be the expenses of converting raw resources into finished goods. In cost…

Q: Indirect materials and indirect labour are classified as: O a. manufacturing overhead and product…

A: Costs that are not traced to the product directly are known as indirect costs. These costs are…

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: When materials and supplies are used in a product that will be sold to customers, the usage of the…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :…

Q: The cost of a manufactured product (product cost) generally consists of which of the following?…

A: Product Cost - Product Cost is the cost incurred by the organization for the product of the entity.…

Q: Conversion costs consist of: O a direct labor and manufacturing overhead O b. direct and indirect…

A: Prime costs consists of direct material and direct labor, While conversion costs consist of direct…

Q: The cost of solder used in assembling the radios * O Product Cost Period Cost

A: The product cost includes the direct or indirect cost incurred in manufacturing and period cost…

Q: Direct Material Used Factory Overhead Prime Cost

A: Prime cost means the addition of direct material and direct labor and other direct expenses.…

Q: Identify the following as fixed costs (F), variable costs (V), or mixed costs(M). insurance on…

A: Variable cost: A variable cost is an expense that rises or falls in direct proportion to the amount…

Q: QUESTION 4 Indicate whether each of the following costs incurred by a manufacturer would be…

A: Product Cost - Product Cost is the cost incurred by the organization for the product of the entity.…

Q: Manufacturing overhead costs would include:a. Marketing costs related to selling the product.b. The…

A:

Q: The cost of maintaning and repairing equipment in plant * O Product Cost Period Cost

A: Period Costs Period costs are the costs incurred which are not directly related to the production…

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: Appropriate base to allocate purchase department cost to different products is? A. Machine Hour B.…

A: Absorption costing involves allocation of production expenses to product based on a parameter

Q: Cost classifications For each of the following costs, check the columns that most likely apply (both…

A: Introduction:   There are three types of costs according to the unit of production; Variable, Fixed…

Q: In computing the current period’s manufacturing cost per equivalent unit, the FIFO method of process…

A: Some of the methods for valuation of inventory are as follows: LIFO: Last in first out is a method…

Q: 1. Classify the costs in the items below using the following format below. Identify the right answer…

A: The costs are classified as direct, indirect, and other factory overhead costs, selling and…

Q: Which of the following is the correct flow of manufacturing costs? a.raw materials, finished goods,…

A: flow of Production process generally begins with raw material and converted to work in process then…

Q: Thomas Traders WLL provide you with the following cost items. Analyse the cost description in Column…

A: Cost classification means  grouping costs according to their common features. Direct materials  are…

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

A: Product Costs: Product Costs means the direct costs incurrend for production of a product. Product…

Q: Match one or more of the following terms with each definition below: a. Direct labour e.…

A: Introduction: The expenditures spent to sustain your company's day-to-day operations are referred to…

Q: Prime cost is? A)Group of answer choices B)indirect materials cost and direct labor cost.…

A: Prime cost refers to the cost related to direct labour and direct material  For example in the…

Q: Insurance expense incurred on a factory building would be treated as a Group of answer choices…

A: Cost is the value spent to make or buy a product. Value spent can be in the form of raw materials,…

Q: COST ACCOUNTING - Process Costing Make a table for the solution. Compute for the equivalent…

A: The equivalent units are calculated on the basis of percentage for the completion of the work during…

Q: In backflush costing, the journal entry to record direct-labor costs incurred would include a? A.…

A: Solution In backflush costing, the journal entry to record direct-labor costs incurred would include…

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

A: Electricity for workshop is a variable cost.

Q: Match one or more of the following terms with each definition below:  a. Direct labor  b.  Direct…

A: According to generally accepted accounting principles manufacturing overhead must be included in the…

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: With respect to cost classifications for manufacturers:a. What is the total manufacturing cost?b.…

A: For a manufacturer,  Total manufacturing cost = Direct Material Cost + Direct Labour Cost + Variable…

Q: In which of the following categories do indirect materials belong? Product Period Manufacturing…

A: Indirect materials are those expenses that are used in the manufacturing process and there is no…

Q: Which of the following statements is true? (You may select more than one answer.)a. Conversion costs…

A:

Q: Which of the following would be included in the cost of a product manufactured according to variable…

A: direct materials: production cost sales commissions: selling cost interest expense: other cost…

Q: a) What was the amount of direct materials used in production? b) What was the amount of…

A:

Q: A furniture manufacturer who follows ABC, will treat painting of furniture as A. Manufacturing…

A: Activity-Based Costing:-It is a method of costing that identifies the Activities of an organization…

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: Factory or Manufacturing Overhead costs would include all of the following except: A) Indirect…

A: Manufacturing overhead cost is the total of all the indirect costs that are incurred while…

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.