Which of the following items would be classified as part of factory overhead? a. amortization of manufacturing patents b. factory supplies used c. production supervisors' salaries Od. all of these choices

Which of the following items would be classified as part of factory overhead? a. amortization of manufacturing patents b. factory supplies used c. production supervisors' salaries Od. all of these choices

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 12MC: Which of the following would not be classified as manufacturing overhead? A. indirect materials B....

See similar textbooks

Related questions

Q: Which of the following would be included in factory overhead? Group of answer choices a salary of…

A: There are two types of factory costs that are direct and indirect cost.

Q: Which of the following is part of factory overhead cost? a.depreciation of sales person's vehicle…

A: Cost accounting system: Cost accounting system of an organization consists of procedures and…

Q: Which of the following would be used to record the factory supervisor's salary? Manufacturing…

Q: Which of the following costs is considered as an example of manufacturing overheads?. Question 2…

A: Cost accounting is one of useful branch being used in business. Under this, different type of costs…

Q: 16. The wages of a timekeeper in the factory would be classified as a. a period cost b. direct…

A: Financial statements are statements which states the business activities performed by the company .…

Q: Beginning direct materials Beginning finished goods Beginning work in process Selling &…

A: Total production cost or total manufacturing cost can be defined as the cost used in the production…

Q: Which of the following accounts would be debited to record the factory supervisor's salary incurred…

A: The objective of the question is to identify the correct account that would be debited when…

Q: Which method of determined operating income is used internally for decision making and considers…

A: Variable costing method / Contribution margin income statement method of determined operating income…

Q: a. How is a predetermined factory overhead rate calculated?b. Name three common bases used in…

A: a.

Q: Which of the following would not be an element of factory overhead?

A: Factory Overhead are not direct cost like direct materials and direct labor however they are helpful…

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

A: Refer Step 2 for explanation

Q: he following are considered part of overhead accounts, except: a. Indirect Materials b.…

A: Solution:- Introduction:- Overhead means expenses that cannot directly traced to a particular…

Q: Which of the following would be an inappropriate activity base for allocating factory overhead…

A: Lets understand the basics.Factory overhead is an expense of factory which is not directly allocable…

Q: a. What is (1) overapplied factory overhead and (2) underapplied factory overhead?b. If the factory…

A: 1(a)Overapplied overhead = Factory overhead applied - Factory overhead incurredOver-applied overhead…

Q: Why must a company estimate the amount of factory overhead assigned to indivdual jobs or jobs lots

A: Factory overhead is the total cost involved in operating all production facilities of a…

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: Using predetermined factory overhead application rates to apply the manufacturing overhead to the…

A: In cost accounting, manufacturing overhead costs to products or production activities are…

Q: Why must a company estimate the amount of factory overhead assigned to individual jobs or job lots?

A: Overhead: It can be defined as the expense that is centrally incurred by the business in continuing…

Q: Discuss the reason why companies use predetermined (factory) overhead rates rather than actual…

A: Manufacturing overheads are the manufacturing costs that could not be directly associated with each…

Q: How would salaries of supervisors in the factory be classified? Group of answer choices

A: A supervisor or employee in a factory is not directly involved in production process as a Direct…

Q: Calculating under/overallocated overhead The T-account showing the manufacturing overhead activity…

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

Q: Which of the following is a possible cost driver that may be used in calculating a company's…

A: An allocation rate which is determined by an entity in order to estimate the overhead of the entity…

Q: Determine the amount of underapplied or overapplied manufacturing overhead for the period.

A: We can get to understand underapplied or overapplied manufacturing overhead by assuming some…

Q: Is Manufacturing Overhead cost allocated to jobs by precisely identifying the overhead cost of each…

A: Manufacturing Overhead Costs are allocated generally on the basis of predetermined overhead rates.…

Q: why and what the answer is. Period costs are a.found on the balance sheet b.found on the job…

A: Period costs: Period costs are the costs other than the product costs. These costs are not incurred…

Q: Which method of determining operating income is used internally for decision making and considers…

A: There are mainly two costing methods adopted by the management to determine the operating income,…

Q: B. Indirect labour charged to manufacturing Overhead

A: Option B is correct

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…

Question

Which of the following items would be classified as part of factory overhead?
a. amortization of manufacturing patents
b. factory supplies used
c. production supervisors' salaries
Od. all of these choices

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: Explanation of Each Option

VIEW

Step 2: Determining the correct option

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Assigning indirect costs to specific jobs is completed by which of the following? applying the costs to manufacturing overhead using the predetermined overhead rate using the manufacturing costs incurred applying the indirect labor to the work in process inventory
In a job order cost system, overhead applied is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
Which of the following is a prime cost? A. direct labor B. work in process inventory C. administrative labor D. factory maintenance expenses
Which of the following would not be classified as manufacturing overhead? A. indirect materials B. indirect labor C. direct labor D. property taxes on factory
Which account is used in the job order cost system to accumulate direct materials, direct labor, and factory overhead applied to production costs for individual jobs?
A. How is a predetermined factory overhead rate computed? B. Name three common bases used in computing the rate.
In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
In a job order cost system, utility expense incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
In a job order cost system, which account shows the overhead used by the company? A. work in process inventory B. finished goods inventory C. cost of goods sold D. manufacturing overhead
Which document shows the cost of direct materials, direct labor, and overhead applied for each specific job? A. job cost sheet B. purchase order C. materials requisition form D. receiving document
Which is the correct formula for computing the overhead rate? A. estimated use of the cost driver for production/estimated overhead for the activity B. estimated overhead for the product/estimated use of the cost driver for the activity C. estimated use of the cost driver for production/estimated overhead for the activity D. estimated overhead for the activity/estimated use of the cost driver for the activity
In job order cost accounting, the three elements of manufacturing cost are charged directly to job orders. Why is it not necessary to charge manufacturing costs in process cost accounting to job orders?