Another name for direct labor is: a. touch labor. b. indirect material. c. factory overhead. d. factory burden.
Q: 4 points
A: Step 1: Determine the formula• Direct Labor Rate Variance = (Actual Rate − Standard Rate) × Actual…
Q: Net income for the year???
A: Step 1: Define Net EarningsThe amount of earnings as determined from statement of profit or loss is…
Q: Total liabilities for Thompson Handyman services?
A: Explanation of the Accounting Equation:The accounting equation is a fundamental principle that…
Q: Degregorio Corporation makes a product that uses a material with the following direct material…
A: Step 1: Determine the Actual Price per Unit• Calculate by dividing total cost of materials purchased…
Q: What is the average accounts payable balance?
A: Calculation of Average Accounts PayableAverage Accounts Payable = (Cost of Goods Sold x Accounts…
Q: General Accounting Question give true answer
A: Step 1: Define Net SalesNet Sales is the revenue generated from a company's sales after deducting…
Q: The land should be recorded in the purchasers book
A: Step 1: Introduction to property, plant and equipmentProperty, plant, and equipment refers to those…
Q: do fast answer this general accounting question
A: Step 1:First calculate the change in working capital: Change in working capital = Increase in…
Q: Home Stop sells two product categories, furniture and accessories. Information pertaining to its…
A: First, we need to calculate the cost and market value for each product. The cost is the quantity…
Q: 4 PTS
A: The question pertains to treasury stocks. In finance, treasury stocks refer to previously…
Q: General Account - The total cost per equivalent unit for May was __.
A: Production InformationBeginning Inventory Units (May 1):4,000 units were already in the process of…
Q: General Accounting Question please solve
A: Step 1: Define Degree of Operating Leverage (DOL)The degree of operating leverage measures how a…
Q: Don't want wrong answer
A: Explanation of Labor Rate Variance:Labor Rate Variance measures the difference between the actual…
Q: A company's balance sheet information is shown below: Total assets Total liabilities Beginning of…
A: To calculate the change in stockholders' equity, we use the accounting equation:…
Q: Cassie Corporation has provided the following information for its most recent month of operation;…
A: Step 1: Use the Gross Profit formula to calculate COGSStep 2: Rearrange the COGS formula to find…
Q: Imami Co.
A: Explanation of Assets: Assets are economic resources owned by a company that are expected to provide…
Q: I need this question answer general Accounting
A: Step 1: Define Cash Flow StatementThe cash flow statement, as the name suggests, is a financial…
Q: Weston Reads has the following financial data: please answer the financial accounting question
A: Step 1: Define Price-Sales RatioThe price-sales ratio (P/S ratio) measures the company's stock price…
Q: Need help this question general accounting
A: Step 1: Cost of goods sold Basis: SalesSales ratio is 100% Cost of goods sold = Sales x (Sales ratio…
Q: Please given correct answer general accounting
A: Explanation for a: Income from operations can be calculated using the following formula:Income from…
Q: Question No. 14. (Financial Accounting): Suppose you sell a fixed asset for $153,000 when it's book…
A: Explanation of Fixed Asset: A fixed asset is a long-term tangible piece of property or equipment…
Q: Which one of the following is an example of a period cost? A. A change in benefits for the union…
A: The correct answer is:D. A manager's salary for work that is done in the corporate head office.…
Q: None
A: Step 1: Define Profit Margin RatioProfit margin ratio also called net margin ratio or net profit…
Q: General Accounting question
A: Step 1: Define ProfitProfit is the financial gain obtained when total revenue exceeds total costs.…
Q: Find the correct answer general accounting
A: Step 1: Define Variance AnalysisThe variance for a resource like direct materials, direct labor, and…
Q: Financial Account
A: To calculate the Material Price Variance (MPV), we use the formula: MPV=(Actual Price per…
Q: asap answer no ai please. # general Account
A: Product Costs: These are expenses that are either directly or indirectly related to the production…
Q: Residual Claims Stark, Inc., is obligated
A: To calculate the market value of the shareholders' equity, we use the formula: Shareholders' Equity…
Q: Use the reconciliation approach to determine cash paid for inventory for the Ferris Company for…
A: Step 1: Reconciliation FormulaThe formula for cash paid for inventory is: Cash Paid for…
Q: Nicole Corporation's year-end 2019 balance sheet lists current assets of $826,000, fixed assets of…
A: Step 1: Calculation of total assetsTotal assets = Current assets + Fixed assetsTotal assets =…
Q: The total assets of Bramble Co. are $795,000 and its liabilities are equal to one-fourth of its…
A: Our solution will revolve around the accounting equation where:Total assets = Total liabilities +…
Q: On May 21, 2019, Christine worked 7 hours on Job A-1, and 3 hours on general "overhead activities."…
A: Step 1: Understand the cost componentsThe total cost recorded in the WIP account for Job A-1…
Q: For the period ending October 6, compute the following:
A: Data GivenBeginning Inventory (January 1): $140,000Purchases (January 1 to October 6): $670,000Sales…
Q: On January 1, 2009, Teja Corporation purchased for $987,000, equipment having a useful life of ten…
A: Explanation of Depreciable Amount: The depreciable amount of $902,600 represents the total cost of…
Q: Variable costing balance sheet is?
A: Explanation of Variable Costing:Variable costing is a method used in managerial accounting where…
Q: Manufacturing overhead costs of ?
A: Step 1: Define Manufacturing Overhead CostTo calculate manufacturing overhead costs, all the…
Q: Do fast answer of this general accounting question
A: Step 1: Define Cost of Goods ManufacturedThe cost of goods manufactured is the total manufacturing…
Q: Boom Lay Corp, has a current accounts receivable balance of $327,815. Credit sales for the year just…
A: 1. Receivables TurnoverThe Receivables Turnover ratio is calculated as: Receivables Turnover=Average…
Q: In August, one of the processing departments at T Corporation had beginning work in process…
A: Explanation of Work in Process Inventory:Work in Process (WIP) Inventory refers to the costs…
Q: None
A: To calculate the market value of shareholders' equity, we use the formula: Equity = Assets -…
Q: A copy machine cost $78,000 when new and has accumulated depreciation of $72,000. Suppose Print and…
A: Explanation of Original Cost:Original cost, which is $78,000 for the copy machine, represents the…
Q: The amount brought in by owner of the business should be credited to? a. Owner's equity b. Drawings…
A: The correct answer is:a. Owner's equity Explanation:When the owner brings in money or other assets…
Q: Subject:- General Account
A: Step 1: Recalling product costs.product costs are those costs related to the production or…
Q: Please solve this question general accounting
A: Step 1: Define Total gainThe total cash value of the Institution's realized investment income on a…
Q: Which of the following would not lend itself to applying direct labor variances? a. Customer service…
A: Finding the difference between the standard labor costs for a particular good or service and the…
Q: Get correct solution for this general accounting question please answer
A: Step 1: Analysis of information providedNet Sales = $1,750,000Cost of Goods Sold = $1,365,000Step 2:…
Q: Get correct answer accounting questions
A: Step 1: Define Balance SheetA balance sheet is a financial statement that shows three broad sections…
Q: The last accounting period?
A: Step 1: Definition of Ending InventoryEnding inventory refers to the value of goods remaining in…
Q: Account
A: The correct answer is:A. No effect on Assets; No effect on Liabilities; No effect on Stockholders'…
Q: I don't need ai answer accounting questions
A: Step 1: Definition of Inventory Turnover RatioThe inventory turnover ratio measures how many times a…
Step by step
Solved in 2 steps
- Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expensesWhich is not a step in analyzing the cost driver for manufacturing overhead? A. Identify the cost B. identify non-value-added costs C. analyze the effect on manufacturing overhead D. identify the correlation between the potential driver and manufacturing overheadWhat are factory overhead expenses, and what distinguishes them from other manufacturing costs? What other terms are used to describe factory overhead expenses?
- Which of the following is not considered a product cost? A. direct materials B. direct labor C. indirect materials D. selling expenseWhich of the following would not be classified as manufacturing overhead? A. indirect materials B. indirect labor C. direct labor D. property taxes on factoryWhat are the sources for posting indirect labor cost to the indirect labor account in the factory overhead ledger?
- Why are the overhead costs first accumulated in the manufacturing overhead account instead of in the work in process inventory account?Indirect materials and indirect labour are classified as: O a. manufacturing overhead and product costs O b. operating costs and product costs O c operating costs and period costs O d. manufacturing overhead and period costsManufacturing overhead is the costs that can be traced directly to specific units produced. TRUE OR FALSE
- Factory overhead includes Oa. direct materials and direct labor Ob. indirect labor and indirect materials Oc. factory rent and direct labor Od. indirect materials and direct materialsWhich one of the following is not a cost element in manufacturing a product? Office salaries Manufacturing overhead Direct materials Direct laborWhich of the following is an example of functional classification of cost? A Direct material cost B Direct labour cost C Factory overhead D Indirect material cost
