10. Data on King Company's direct-labor costs is given below: Standard direct labor hours 30,000 29,000 Actual direct labor hours Direct labor usage (efficiency) variance-favorable Direct labor rate variance -favorable Total payroll P 4,000 P 5,800 P 110, 200 REQUIRED: What was King's actual and standard direct labor rat Actual Direct labor Rate Standard Direct Labor Rat a. P0.60 P 3.54 Р 3.80 P 4.00 P 5.80 P 4.00 P 3.80 b. с. d. P 5.80

Q: What are some management techniques in cost management

A: Cost Management refers to the practice of estimating, recording and closely the monitoring the costs…

Q: Distinguish between Period cost and Product cost? Give two examples of each cos

A: Classification of costs on the basis of functions:- 1. Product Cost 2. Period Cost

Q: ustomizing cost

A: Cost accounting is one of the accounting system that is used by the businesses. The main purpose of…

Q: Assign costs to unitsusing the FIFO method.

A: FIFO Method:   It is a method of inventory costing where the inventory purchased first is the first…

Q: Cost classifications used for predicting cost behavior include: Multiple Choice Variable cost and…

A: Variable costs are the costs that varies with the change in output but per unit variable cost…

Q: Explain the Problems in Cost Accounting Measurements?

A:

Q: What exactly is a genuine account?

A: Genuine account: Genuine account is generally referred to as a real account. Real accounts are…

Q: Explain how a scatter graph is used to identify and measure cost behavior.

A: A Scatter graph is a graphical tool that plots activity level on the x-axis and matches total cost…

Q: Explain unit sales.

A: Sales: Sales means the goods and services sold by one company to their customers for a period.

Q: d.    Perpetual system, LIFO cost flow. e.    Periodic system, weighted-average cost flow. f.…

A: Perpetual inventory system - Movement of inventory is recorded on regular basis. Periodic inventory…

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.