Which of the following is considered a fixed cost? a) rent expense b) marketing costs record expenses c) when they occur and not when they are paid , as well as income when its earned

Q: A traditional income statement classifies costs by function; costs are classified as either product…

A: The question is related to Classification of cost. The traditional income statement classifies costs…

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: Which of the following is not a direct expense? a) Material and Labor Costs b) Transportation Cost…

A: Costs that can be directly linked to a particular cost object, such as a product, project, or…

Q: Can you classify the expenses listed as Variable or Fixed Costs

A: Variable costs are those costs that change with the change in production. Whereas, fixed cost are…

Q: variables cost

A: Variable cost is the cost that change according to sale or production volume.

Q: 1 An example of a mixed cost is a. utility costs. b. property taxes. c. direct materials. d.…

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

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

A: Concept Introduction:   Product costs are the costs which are incurred only when a product is…

Q: Define gross pay.

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: What accounts in the income statement are used to determine labor cost per man hour? Wages would be…

A: Labor costs include wages, salaries, benefits, and any additional expenses incurred by the employer,…

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 is Cost account payable

A: All variable costs are reduced from sales revenue to get at a contribution margin, from which all…

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: Which of the following costs would not be inventoriable?  Indirect labor cost Office rent factory…

A: Inventoriable cost means the cost which will be considered while valuing the inventories. Only the…

Q: What type of cost is included in economic costs, but not included in accounting costs?a. Explicit…

A: Economic costs are the costs in which consideration is given to opportunity costs as well.

Q: Which one is a Historical Cost? Select one: O a. Rent Factory O b. Office Rent O c. All the Above O…

A: The question is multiple choice question  Required  Choose the Correct Option

Q: Salary paid to administration staff is an example of a direct cost. TRUE or FALSE?

A: Direct cost: Direct cost is the cost which is directly related to production process.  Indirect cost…

Q: What is life-cycle and/or full-cost accounting? IS THERE A DIFFERENCE?

A: In this question, we have to tell about life-cycle costing and full cost accounting, whether these…

Q: A. She can work at McCray-Hall educational publishing as an editor with a salary of $46,500 per…

A: The salary calculation is made general weekly or monthly. In many cases, salary/ wages per day or…

Q: For financial institutions, wages and staff benefits are considered part of which type of the…

A: The Financial institutions are the company which are engaged in the transactions related to the…

Q: Among time basis and piece rate basis of wages payment which one will be beneficial for a less…

A: Time basis and piece rate basis are two methods of wage payment. Under time basis, workers are paid…

Q: Which of the following is not an example of a fixed cost   A.Salaries of staff   b. Direct…

A: A fixed cost is a type of cost which does not change with the change in level of activity and will…

Q: What is the difference between a contribution approach income statement and a traditionalapproach…

A: Contribution Approach Income Statement: Under this approach, contribution amount is the main focus…

Q: 1. The amount by which an item contributes towards covering fixed cost and providing for profit is…

A:

Q: required: please answer this question by calculating the gross pay and net pay .

A: Gross Pay: Sum of the payment or amount received before any deductions or expenses. Net Pay: Net…

Q: When is employee compensation referred to as variable pay? 0 a. when employee pay is comprised of…

A: The Employee compensation refers to the total amount of financial and non financial rewards provided…

Q: Current Cost Concept - Measurement of Elements  Why is Accounts Payable one of the elements that is…

A: Accounts payable is the amount owed by a company to its suppliers or vendors for goods and services…

Q: Explain the types of compensation that are defined as wages

A: Introduction:- Wages means any payment made by an employer to an employee for work done in a…

Q: Define salaries expense.

A: Salaries expense is the fixed pay earned by employees. The expense represents the cost of non-hourly…

Q: Costs incurred to earn revenue are referred to as _____

A: Expenditure is the outflow cash or incurred by the business to support the generation of revenue.…

Q: The labor received the income from daily basis its Select one: a. Rent b. Wages c. Non-Wages d.…

A: Wages means the payment made to temporary worker who are generally working in factory.