During the month of December, actual direct labor cost amounted to Php 39,550, the standard direct labor rate was Php 10/hr , and the direct labor rate variance amounted to Php 450 favorable. Provide actual direct labor hours

Q: Class what are the two types of manufacturing overhead? How do they affect the manufacturing…

A: The objective of the question is to understand the two types of manufacturing overhead and how they…

Q: How is the cost of goods manufactured calculated?

A: Cost of Goods Manufactured, also known to as COGM, is a term used in managerial accounting that…

Q: How does the production order record provide a control over the quantity of materials used in…

A: A production order is an order issued in a company to produce a particular quantity of materials…

Q: Define indirect labor.

A: Labour are those people who are engaged in the organisation either for the purpose of production or…

Q: Which of the following is the step in which materials, labor, and overhead are detailed?

A: Direct material is the cost of the raw materials or parts that go directly into the production of a…

Q: where the line is drawn between direct and indirect labor, is direct labor at an employee level or a…

A: Direct Labour is labour or workers that are directly engaged in production of goods. Indirect labour…

Q: What information is presented on a job cost sheetand what is its purpose?

A: Job Costing: Job costing is a way of accounting that is meant to assist you in keeping track of the…

Q: What does the Work-in-process inventory consist of?

A: Work-in-process inventory consist of materials which are partially completed in the production…

Q: What are the differences between a product cost and a period cost

A: In accounting we say that costs are often product costs or period costs. The difference between the…

Q: Why is industrial overhead calculated using direct labor

A: This question explains about  industrial overhead that which is  using direct labor:

Q: Define the term completion of job.

A: Completion of work means that the Project/Works have been completed  operationally and structurally…

Q: What's predetermined overhead used for, and why?

A: A predetermined overhead rate is a rate that is used to apply the expected cost of manufacturing…

Q: f beginning work in process inventory completed during the perio

A: Solution:      Equivalent units of beginning work in Process Inventory  Direct material = 0…

Q: Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2022.…

A: Answer:- Taxable income meaning:- Exemptions and refunds are subtracted from gross annual income to…

Q: What is included in indirect materials and indirect labor ?

A:

Q: how to calculate average labor time?

A: Lets understand the basics. Direct material and direct labor is required to produce goods or…

Q: Define labour time record.

A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…

Q: Wages paid to a labourer who is engaged in production activities should be classified as: a) direct…

A: Cost refers to the amount incurred in return for goods or services.

Q: Underapplied overheard exists when the amount of overhead applied to jobs during the period is ?

A: Manufacturing overhead costs: The costs, which do not relate directly with the manufacturing of…

Q: What are the three types of costs that are typically recorded on a job cost sheet?

A: A job cost sheet is a record of all expenses relating to a single job or job segment. Companies that…

Q: Who might a plant accountant consult with when establish-ing direct labor quantity or rate…

A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…

Q: How do you get total of period cost?

A: Period Costs are not directly associated with the finished products manufactured, rather associated…

Q: Calculate the total absorbtion rate used to apportion manufacturing overhead by?

A: The absorption rate is assigned according to the various allocation grounds. Hours of direct work…

Q: what is the Total factory overhead cost variance?

A: Cost variance is the variance which is measured by the company so that the decision and it can be…

Q: What does the word "overhead application rate" mean?

A: Overhead is a term that refers to a continuous   The term "overhead application rate" refers to the…

Q: What are the two types of manufacturing overhead? How do they affect the manufacturing overhead…

A: Manufacturing Expenses or Overhead are the indirect type of costs that a business incurs. These…

Q: What are the equivalent units of production?

A: Work-in-Process: It refers to the partially finished goods of a company waiting to be completed.…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.