NUBD Co. manufactures lifting equipment. One order from HFL Co. for 200 lifting equipment showed the the following costs per unit: Materials Labor Factory overhead, 160% of direct labor cost (150% in cases in which any defective unit costs are to charged to a specific order) P 200 P 175 Final inspection revealed that 15 of the units were not properly produced. Rework of each defective unit requires P50 for materials, P80 for labor, and factory overhead at the appropriate rate.

Q: Which of the following would most likely be a product cost? O A. Salary of VP of sales O B.…

A: Product cost includes all those costs which are directly attributable to the process of converting…

Q: Is hiring of specialized manufacturing equipment a manufacturing overhead cost? Explain why or why…

A: Overhead cost is the sum of all indirect costs which are not directly traceable to the final goods…

Q: how do I find total over- or underapplied fixed manufacturing overhead?

A: Overhead: Overhead refers to the costs, which are utilized in business activities, however cannot be…

Q: Manufacturing costs that cannot be traced to the finished product are known as: *

A: Overhead means the cost incurred indirectly in production of goods . For examples , supervisor…

Q: Which among the following is not a direct cost? a. Labour b. Raw material c. Factory wages d.…

A: Introduction : Direct costs: The cost which are directly linked to the manufacturing of a product…

Q: Under absorption costing, which of the following costs would be included in finished goods…

A: The objective of the question is to identify which costs are included in finished goods inventory…

Q: Which of the following items is an indirect cost? A. The rent of the factory in which products are…

A: explanation : A. The rent of the factory in which products are madeB. The wages of the production…

Q: Manufacturing costs always allocated to jobs rather than being traced to job (like Direct materilas…

A:

Q: A cost driver is a factor, such as machine-hours, that is used to allocate direct costs to a…

A: Direct costs:Direct cost is simply a cost or price that can directly related to the production of…

Q: Which of the following are period costs? *

A: Period costs are also known as period expenses. These are expenses that are incurred during a given…

Q: Why factory overhead is computed based on direct labor?

A: Refer Step 2 for explanation

Q: In Process Costing, what are spoilt units? In what ways do they resemble spoilt units when it comes…

A: Process costing is a method of costing used where units are continuously produced through one or…

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: what of the  costs is an example of a cost that remains the same in total as the number of units…

A: The objective of the question is to identify which among the given costs is a fixed cost. A fixed…

Q: Determine the following is best described as a fixed, variable, or mixed cost with respectto product…

A: Definition: Variable cost: The cost which changes with the change in the level of activity is called…

Q: which of the following is typically a mixed cost? a. Rent for a factory building b. Total…

A: Mixed cost is the combination of two cost such as, fixed cost or variable cost so it includes both…

Q: How are spoiled units accounted for in Process Costing?

A: Spoiled Units refers to the units which does not meet the required standards for quality and utility…

Q: Explain why the fixed manufacturing overhead cost per unit changes when there is a change in the…

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

Q: What are spoiled units in Process Costing? In what way are they similar to spoiled units under Job…

A: >Process costing is done in a manufacturing process when whole manufacturing process works in a…

Q: How is the cost price of the finished product formed / shaped?

A: production of goods and providing of services various cost , These are variable and fixed , the…

Q: Which of the following represents the cost of jobs completed but not yet sold? O a. Raw Materials…

A: The answer is as follows:-

Q: Explain why a manufacturer’s cost of supervising production might be a step-fixed cost.

A: Step-fixed costs: Step-fixed costs remain fixed over a wide range of activity but it jumps to a…

Q: Which of the following is a part of Prime Cost? a. Direct Labour b. Indirect Wages c. Rent of…

A: Prime cost includes all the direct costs such as direct material, direct labor, and direct expenses.…

Q: Manufacturing overhead is what is left after subtracting direct labor and direct material from total…

A: Total manufacturing costs includes all the costs which are incurred by the business entities for the…

Q: Why are overhead costs allocated to products and not traced to products as direct materials and…

A: Given: The allocated overhead cost of products is not traced as direct materials to products.

Q: What is the effect on the cost of goods sold and net operating income, if the cost of factory…

A: If cost of factory overhead applied are greater than the cost actual factory overhead, cost of goods…

Q: Is it better for a manufacturer to use job order or process costing to determine the cost of goods…

A: COGM is the amount that can be determined by considering all the direct and indirect costs involved…

Q: Which of the following is an example of a variable cost? a.Insurance on the production equipment…

A: Variable cost are those cost which changes according to the level of Production. In other words in…

Q: Required:   Please identify which of the above statements are false and explain the reasons.

A: The scrap value of an abnormal loss is credited to the process account is false. The scrap value of…