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2. Distinguish between direct and indirect costs.

2. Distinguish between direct and indirect costs.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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e, [A Plag Answer all qu.. VOICE_6956... 2. Distinguish between direct and indirect costs. 3. Distinguish between prime cost and conversion costs. ) Product costs included in inventory, as required by. GAAP materials into the company's products; labour costs that are directly traceable to finished products Advertising Assemblers wages Production supervisor's salary Depreciation of machinery CC11003.pdf 4. Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Office salaries Purchase of glue Purchase of screws and nails Purchase of pine Purchase of oak There is no beginning or ending inventory. Calculate the following: (a) Direct material used Direct labour cost Factory overhead (b) ) Factory utilities Lathe machine (machine for shaping wood) Operators wages Machinery repairs (c) Find text or tools Q (d) (f) $36,000 84.200 21,400 9,200 55,600 66,400 22,600 113,800 1,600 800 + Create 99,000 250,000 Prime cost Conversion cost Production cost GRAMS; H $100.00 $150.00 $80.00 $200.00 450.00 $550.00 $300.00 : $300.00 $300 208 208 D @ r
Transcribed Image Text:e, [A Plag Answer all qu.. VOICE_6956... 2. Distinguish between direct and indirect costs. 3. Distinguish between prime cost and conversion costs. ) Product costs included in inventory, as required by. GAAP materials into the company's products; labour costs that are directly traceable to finished products Advertising Assemblers wages Production supervisor's salary Depreciation of machinery CC11003.pdf 4. Francis manufacturers, a manufacturer of wood doors and windows, has prepared the following list of accounts Office salaries Purchase of glue Purchase of screws and nails Purchase of pine Purchase of oak There is no beginning or ending inventory. Calculate the following: (a) Direct material used Direct labour cost Factory overhead (b) ) Factory utilities Lathe machine (machine for shaping wood) Operators wages Machinery repairs (c) Find text or tools Q (d) (f) $36,000 84.200 21,400 9,200 55,600 66,400 22,600 113,800 1,600 800 + Create 99,000 250,000 Prime cost Conversion cost Production cost GRAMS; H $100.00 $150.00 $80.00 $200.00 450.00 $550.00 $300.00 : $300.00 $300 208 208 D @ r
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