Question

78. Prime costs include______________ and conversion costs include______________. a. Direct Materials and Direct Labor Direct Labor...

78. Prime costs include______________ and conversion costs include______________.

a.

Direct Materials and Direct Labor

Direct Labor and Manufacturing Overhead

b.

Direct Materials and Manufacturing Overhead

Direct Labor and Manufacturing Overhead

c.

product and period

d.

Work in Process and Raw Materials

Manufacturing Overhead and Direct Materials

80. Depreciation expense on factory equipment should be assigned to:

a.

depreciation expense

b.

manufacturing overhead

c.

accumulated depreciation

d.

work in process
Business   Accounting   
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Homework Answers

Answer #1

Answer to Qn 79:

Prime Cost Includes Direct Materials and Direct labor and Conversion Cost Incudes Direct labor and Manufacturing Overhead (a)

Prime Cost are the cost which includes all the direct cost however Conversion cost includes Direct labor and indirect overheads.

Answer to Q80:

Depreciation expense on factory equipment should assigned to Manufacturing Overhead (b).

In the production department of a manufacturing firm, depreciation expense is considered an indirect cost, is the reason its included in Factory overhead and then allocated to the units manufactured during a reporting period.

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