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....

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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?
In cost terms, direct labor cost is included inA. Manufacturing costsB. Prime costsC. Conversion costsD. B and CE. A, B and C
Element/s of Cost of a product are: A. Material, Labour and expenses B. Expenses only C. Labour only D. Material only
Conversion costs consist of O A. direct labor B. manufacturing overhead O C. A only D. Both a and b
Which of the following would not be classified as a product cost? A. Direct materials. B. Direct labor. C. Indirect materials. D. Sales commissions.

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