28) A souvenir shop has a factory that makes different types of souvenirs for tourists. It engages workers who are masters in the art of cottage industry. The appropriate base for factory overhead absorption is _________________? Direct labor hours Units of production Machine hours Direct material costs

28) A souvenir shop has a factory that makes different types of souvenirs for tourists. It engages workers who are masters in the art of cottage industry. The appropriate base for factory overhead absorption is _________________? Direct labor hours Units of production Machine hours Direct material costs

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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Which of the following costs is best classified as a fixed cost with respect to volume of activity? (See your Chapter 20 notes, page 5) Direct labor Electricity used to heat, light, and cool a factory Cleaning supplies used in an automobile assembly plant Straight-line depreciation expense of a machine used in a factory Total cost of salaries paid to quality inspectors in a manufacturing plant Tires used in an automobile manufacturing plant
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What is the best reponse to this post? ob costing is a way for businesses to manage the costs and profitability of a specific job or project. This type of cost accounting is most beneficial to companies that make custom/unique products. An industry that may choose job costing is a construction company. They may specialize in a particular service, such as installing water pipes underground, but each project will vary in size, length, location, etc. They would use this method because each project would vary widely, so you could not spread the costs evenly for each one. Process costing is a way of evenly spreading costs for their products because all products are either mass-produced or very similar. An example of a company that would use process costing is a paper company. They produce one product in large quantities to allocate the costs evenly for each batch produced. The main difference between the two is how the overhead is assigned to the product, where job costing is more for…
Imagine you own a small business that makes toy trains and toy cars in the same factory? The productions managers salary is a manufacturing overhead cost. provide two specific ways you could allocate this person's salary to the toy trains and toy cars
Job order costing would be well-suited for which of the following businesses? candy bar processing taxidermy pencil production rice farming
Why would a manufactury company with multiple production department still prefrer to use a single plantwide overhead rate
Answer the following 3 questions:
Match the costs for Oracle in producing computer servers to the appropriate cost types below.A. Raw MaterialsB. Direct LaborC. Overhead CostD. N/A1. Employee Wages for Soldering electronic pieces ________________Why? ________________________________________________________________________________________________________________________________________2. Sales Commissions for Salespersons ________Why? ________________________________________________________________________________________________________________________________________3. Soldering Materials purchased in bulk at the beginning of the year ________Why? ________________________________________________________________________________________________________________________________________4. Motherboards and Processors ________________Why? ________________________________________________________________________________________________________________________________________5. Salaries for the supervisor overseeing the…
devuben
A job order costing system would probably be appropriate for a firm that produces a. automobiles.b. stained glass windows.c. DVDs.d. microcomputers.e. none of the above.