Question

"Materials and labor are always direct costs, and supply costs are always indirect." What is your...

"Materials and labor are always direct costs, and supply costs are always indirect."

What is your opinion of this statement?

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700, while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the...
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current Indirect labor amounted to $2,700 while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a...
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
Indirect labor $1.40 Indirect materials 0.50 Utilities 0.30 Fixed overhead costs per month are Supervision $4,500,...
Indirect labor $1.40 Indirect materials 0.50 Utilities 0.30 Fixed overhead costs per month are Supervision $4,500, Depreciation $1,300, and Property Taxes $700. The company believes it will normally operate in a range of 7,700 – 11,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using increments of 1,300 direct labor hours. (List variable costs before fixed costs.) MYERS COMPANY Monthly Manufacturing Overhead Flexible Budget For the Year 2017...
1.Manufacturing costs are typically classified as Select one: a. direct materials or direct labor b. product...
1.Manufacturing costs are typically classified as Select one: a. direct materials or direct labor b. product costs or period costs c. direct materials, direct labor, or manufacturing overhead d. direct materials, direct labor, or selling and administrative 2. Raw materials inventory, January 1 $ 12,000 Raw materials inventory, December 31 16,000 Work in process, January 1 5,000 Work in process, December 31 8,000 Finished goods, January 1 17,000 Finished goods, December 31 12,000 Raw materials purchases 118,000 Direct labor 165,000...
Multiple choice: 1. The primary costs of the product are composed of: a. direct materials and...
Multiple choice: 1. The primary costs of the product are composed of: a. direct materials and indirect manufacturing costs b. direct labor and indirect labor. c. direct labor and indirect manufacturing costs. d. direct labor and direct materials 2. Which of the following businesses is most likely to use a cost-per-order system? a.Coal manufacturing b.Manufacture of computer chips c.Restoration of antique furniture d.Rubber manufacturing 3.The production cost sheets, used in a cost-per-order system, accumulate all of the following costs, except...
Which of the following is not a product cost? Direct materials costs Selling costs Direct labor...
Which of the following is not a product cost? Direct materials costs Selling costs Direct labor costs Factory overhead costs
How do direct materials differ from indirect materials? What is example of an indirect material used...
How do direct materials differ from indirect materials? What is example of an indirect material used in the production of automobiles?
Cost Item Amount Direct Materials Used $140,000 Direct Manufacturing Labor Costs (workers are pd hourly) $22,000...
Cost Item Amount Direct Materials Used $140,000 Direct Manufacturing Labor Costs (workers are pd hourly) $22,000 Plant Utility Costs $5,000 Indirect Manufacturing Labor Costs—Variable $18,000 Indirect Manufacturing Labor Costs—Fixed $14,000 Other Indirect Manufacturing Costs—Variable $8,000 Other Indirect Manufacturing Costs—Fixed $26,000 Marketing, Distribution & Customer-Service Variable Costs $120,000 Marketing, Distribution & Customer-Service Fixed Costs $43,000 Fixed Administrative Costs $54,000 Inventory Data Beginning Ending Direct Materials 202,300 feet 2300 feet Work in Process 0 units 0 units Finished Goods 0 units ?...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT