Prime cost consists of: O direct materials, direct labor and manufacturing overhead. direct materials and direct labor. direct materials and manufacturing overhead. direct labor and manufacturing overhead.

Prime cost consists of: O direct materials, direct labor and manufacturing overhead. direct materials and direct labor. direct materials and manufacturing overhead. direct labor and manufacturing overhead.

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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Concept explainers

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.

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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
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
Under absorption costing, a unit of product includes which costs? A. direct material, direct labor, and manufacturing overhead B. direct material, direct labor, and variable manufacturing overhead C. direct material, direct labor, and fixed manufacturing overhead D. direct material, direct labor, and all variable manufacturing overhead
Question 7 Prime cost consists of: direct labor and manufacturing overhead. O direct materials and manufacturing overhead. direct materials, direct labor and manufacturing overhead. direct materials and direct labor.
Question 4 Manufacturing overhead includes: O all direct material, direct labor and administrative costs. O all manufacturing costs except direct labor and direct materials. O all manufacturing costs except direct labor. O all selling and administrative costs.
Question 29?
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T, F. Prime cost consists of Direct Materials and Factory Overhead.
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14. Overheads that are concerned with the production function are known as________ a. Selling Overhead b. Distribution Overhead c. Production Overhead d. Office Overhead
Prime cost consists of: Select one: O A. Direct labour B. O C. Factory overheads O D. a) and c) above Direct materials and direct labour
QUESTION 16 The application of estimated manufacturing overhead to jobs is: An asset use transaction. An asset exchange transaction. A claims exchange transaction. An asset source transaction.