Direct labor is both a prime cost and aa. nonmanufacturing costs.b. selling expense.c. conversion cost.d. admin expense.?

Direct labor is a key cost in manufacturing that represents the wages paid to workers who are…

Answered: Direct labor is both a prime cost and a…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 8MC: Which of the following is not considered a product cost? A. direct materials B. direct labor C....

See similar textbooks

Similar questions

Which of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions D. direct material used
In the cost equation Y=a+bx, Y represents which of the following? A. fixed costs B. variable costs C. total costs D. units of production
Using the costs listed in the previous problem, classify the costs as either product costs or period costs.
Which of the following are prime costs? A. indirect materials, indirect labor, and direct labor B. direct labor, indirect materials, and indirect labor C. direct labor and indirect labor D. direct labor and direct materials
For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard cost
Why are product costs assigned to the product and period costs immediately expensed?
What is a direct cost? An indirect cost? Can the same cost be direct for one purpose and indirect for another? Give an example.
Why are labor and manufacturing overhead grouped together as conversion costs?
General Account
In cost terms, direct labor cost is included inA. Manufacturing costsB. Prime costsC. Conversion costsD. B and CE. A, B and C
Research and development costs are classified as: O a. Inventoriable costs. O b. Product costs. O c. Period costs. O d. Cost of goods sold.
Element/s of Cost of a product are: A. Material, Labour and expenses B. Expenses only C. Labour only D. Material only

SEE MORE QUESTIONS

Recommended textbooks for you

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Principles of Accounting Volume 2

Accounting

ISBN:

9781947172609

Author:

OpenStax

Publisher:

OpenStax College

Survey of Accounting (Accounting I)

Accounting

ISBN:

9781305961883

Author:

Carl Warren

Publisher:

Cengage Learning

Cornerstones of Cost Management (Cornerstones Ser…

Accounting

ISBN:

9781305970663

Author:

Don R. Hansen, Maryanne M. Mowen

Publisher:

Cengage Learning

Managerial Accounting: The Cornerstone of Busines…

Accounting

ISBN:

9781337115773

Author:

Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:

Cengage Learning

SEE MORE TEXTBOOKS

Direct labor is both a prime cost and a a. nonmanufacturing costs. b. selling expense. c. conversion cost. d. admin expense. ?