Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative cost Eived seling and administrative cost P18 26 31 30 6. 17 *..... .......

Direct material used Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative cost Eived seling and administrative cost P18 26 31 30 6. 17 *..... .......

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 16MC: Under variable costing, a unit of product includes which costs? direct material, direct labor, and...

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Question

what will be the per unit cost?

Direct material used
Direct labor
Variable manufacturing overhead
Fixed manufacturing overhead
Variable selling and administrative cost
Fixed selling and administrative cost
P18
26
31
30
9.
17

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Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
During production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual department
Under variable costing, a unit of product includes which costs? direct material, direct labor, and manufacturing overhead Direct material, direct labor, and variable manufacturing overhead Direct material, direct labor, and fixed manufacturing overhead D. Direct material, direct labor, and all variable manufacturing overhead
Which of the following is the step in which materials, labor, and overhead are detailed? A. determining the units to which costs are assigned B. determining the equivalent units of production C. determining the cost per equivalent units D. allocating the costs to the units transferred out and the units partially completed
In a process costing system, which account shows the overhead assigned to the department? A. cost of goods sold B. finished goods inventory C. raw material inventory D. work in process inventory
A summary of materials requisition slips and time tickets, along with the overhead allocation, show these costs: Prepare an entry to record the assignment of direct material to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.
Which is not a step In activity-based costing? A. identify the activities performed by the organization B. identify the cost driver(s) associated with each activity C. compute a cost rate per production D. assign costs to products by multiplying the cost driver rate by the volume of the cost driver units consumed by the product
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Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses