Production costs are inclusive of the following EXCEPT   Selling and Distribution Cost Supervisor's Salary Direct Cost Direct Material Factory Rent

Q: Which one of the following is a fixed cost? a. Raw material costs b. Salary with commission c.…

A: A fixed cost is one that does not adjust in the short term, even though a company's sales volume or…

Q: Direct labor is included in the computation for the cost classified as     Group of answer choices…

A: Prime cost = Direct material + Direct labor Product cost = Direct material + Direct labor +…

Q: What are the cost associated with production? (COSTING METHOD)

A: The cost associated with production includes costs like direct material costs, direct labor costs,…

Q: Which of the following is not a prime cost? O Supervisor's wages Direct labor wages Assembly line…

A: Prime costs is a company’s expenses which is directly related to the production process like  the…

Q: Identify the following as fixed costs (F), variable costs (V), or mixed costs(M). direct labor…

A: A cost that changes, in total dollar amount, with the change in the level of activity is called…

Q: Which of the following does NOT form a part of Total cost? A. Production overheads B. Factory…

A: Total cost involves all the cost incurred in order to reach a particular level of output.

Q: Classify each of the following as a variable, fixed cost or mixed cost. a. Direct labour b.…

A: Variable cost is such type of cost which changes with the changes in units produced. Fixed cost…

Q: 1. Which of the following are period costs? Raw materials Direct materials and direct labor Direct…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

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 direct/marginal costing, a unit of product includes which costs? direct material, direct…

A: Marginal costing is the method of determining the operating income. It separately shows the variable…

Q: Which one of the following is not a cost element in manufacturing a product? Office salaries…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Costs that can be traced to a unit of product but not in a cost-effective way: (A) Direct Cost (B)…

A: TRACEABLE COST  All Direct Cost are Traceable cost Such as Direct Material & Direct Labour.…

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: 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: otal Manufacturing costs are also known as product costs. Which of the following best describes…

A: Solution Concept Total manufacturing cost basically means the cost that is required to manufacture…

Q: All of the following are product costs except: Group of answer choices period cost factory overhead…

A: The cost can be classified into two categories i.e. product cost and period cost. The product cost…

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: Question: In a manufacturing setting, direct labor costs are considered: a) Variable costs b) Fixed…

A: Variable costs - Fixed costs - Mixed costs- Overhead costs

Q: Which of the following is an example of functional classification of cost?   A Direct material…

A: Functional classification of cost includes the categorising of costs according to their functions…

Q: An example of labor-related costs is:   bonus pay factory labor fringe benefits operating expense

A: The labor costs include the wages and salaries paid to employees.

Q: Production costs are inclusive of the following EXCEPT:   Selling and Distribution costs…

A: Production costs refer to the expenses that are directly associated with the process of production.…

Q: The plant manager's salary * Product Cost O Period Cost

A: The costs incurred in production can be classified as period cost or product cost.

Q: When factory overheads are added to prime cost then the result will be. a. Cost of material consumed…

A: Prime cost = Direct material + Direct labor Conversion costs = Direct labor + factory overheads Cost…

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: Direct labour cost is an element of_________ a. All of the given options b. Prime cost c. Conversion…

A: A direct labor cost is referred to as the wages that are incurred directly to produce the goods or…

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: The cost of a manufactured product (product cost) generally consists of which of the following?…

A: Product Costs - Product cost are those cost which are incurred to manufacture the product. Other…

Q: Which one is a controllable cost? Select one: O a. Office salary Ob. Rent Factory O c Office Rent O…

A: Controllable costs are those costs which can be controlled by the business.

Q: Identify each of the following costs as either a product cost (PROD) or a period cost (PER). Office…

A: Definition: Office manager salary

Q: Which one is a controllable cost? Select one: O a. Office salary O b. Cost of Raw material O c. Rent…

A:

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

A: On the basis of cost behaviour, a cost can be classified into three major categories: Fixed cost:…

Q: Which of the following are categories of costs that are found in the Manufacturing account? A.…

A: The manufacturing account lists all of a company's production costs for products produced within a…

Q: Which of the following is a prime cost? A.Factory maintenance expenses B.Administrative labor…

A: Prime cost of the business means cost of direct material and direct labour. Direct material and…

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.