The following data are available for Peter Senen Company during the month of July 2020: P 95,000 80,000 Direct materials purchased Direct labor Indirect materials 40,000 Indirect labor 45,000 Other indirect factory costs Marketing expenses Office salaries and wages 60,000 72,000 30,000 Raw materials inventory, June 30 Raw materials inventory, July 31 35,000 50,000

Q: What are the three types of manufacturing cost?

A: Manufacturing cost: Manufacturing cost is the sum total of various costs used or incurred in the…

Q: How does the unit cost of producing an item depend on the total quantity of items that have been…

A: Unit cost is the cost of producing per unit. Unit cost includes both variable and fixed cost that…

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: Why is industrial overhead calculated using direct labor

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

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: how to calculate average labor time?

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

Q: What is the Cost Flows in a Manufacturing Company?

A: Cost flows allude to the way or course through which costs go through business.

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

A: Refer Step 2 for explanation

Q: What are the differences between Underapplied Factory Overhead and Overapplied Factory Overhead?

A: Overhead: Overhead cost means expenses referred to indirect cost. The overhead cost like rent,…

Q: Is manufacturing overhead cost given to tasks based on a precise determination of each job's…

A: Concept: Generally, overhead costs in the manufacturing industry are assigned based on a predefined…

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 are the difference between manufacturing cost and non-manufacturing cost, provide example of…

A: The total cost of all resources used in the production of a commodity is known as the manufacturing…

Q: What are the three major types of product costs in a manufacturing company?

A: Products costs refer to the cost incurred by the firm to produce a product or render a service. It…

Q: What are the difference between the cost of goods sold of manufacturing and service type businesses…

A: Introduction:

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.…

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: How is “yield” determined for a process manufacturer?

A: Process costs It is a method of cost accounting, which is used where the production is continuous,…

Q: How is the predetermined overhead allocation rate used by service companies?

A: Definition:   Manufacturing Overheads:   Predetermined manufacturing overhead rate is the rate that…

Q: How is manufacturing overhead allocated to jobs?

A: Manufacturing overhead refers to the costs that is incurred by factory, irrespective of direct cost.

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…