Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor. To compute: The total product cost and period cost which are required to prepare the financial statements.

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Answer 1

Question

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

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ABF's metal spare parts manufacturing company uses the customised production method by attributing the GST to the products it produces with the help of predetermined attribution coefficients. The processing of metal parts is carried out in two production departments: the Cutting and Drilling department, and the Assembly department. The GIS attribution coefficients for the two departments are based on the operating hours of machines and the cost of direct work respectively. At the beginning of the year, the following budgets were implemented: Cutting and Drilling Department Assembly Department Direct Labor Costs (in euros) 1.320.000 2.000.000 G.B.E. (in euros) 4.800.000 2.400.000 Machinery Operating Hours 80.000 5.000 Direct Work Hours 27.000 12.000 Requested: To calculate the coefficient of attribution of the General Secretariat that will be used in each department. (4 units) To determine the production cost per unit for order 158 which…

Answer 2

Question

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Expert Solution & Answer

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Answer 3

Question

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Expert Solution & Answer

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Answer 4

Question

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Expert Solution & Answer

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Answer 5

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Answer 6

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

Answer 7

Chapter 1, Problem 1.24P

a.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total product cost and period cost which are required to prepare the financial statements.

Answer 8

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

Answer 9

b.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total direct manufacturing cost and total indirect manufacturing cost to assign costs to cost objects.

Answer 10

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

Answer 11

c.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total manufacturing cost, total non-manufacturing cost , total conversion cost and total prime cost to update the manufacturer.

Answer 12

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

Answer 13

d.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The total variable manufacturing cost, total fixed cost for the company as whole and total variable cost per unit to predict the cost behavior.

Answer 14

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Answer 15

e.

To determine

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.

Answer 16

Expert Solution & Answer

Answer 17

Expert Solution & Answer

Answer 18

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Answer 19

Ch. 1 - Prob. 1.1Q Ch. 1 - Prob. 1.2Q Ch. 1 - Prob. 1.3Q Ch. 1 - Prob. 1.4Q Ch. 1 - Prob. 1.5Q Ch. 1 - Prob. 1.6Q Ch. 1 - Prob. 1.7Q Ch. 1 - Prob. 1.8Q Ch. 1 - Prob. 1.9Q Ch. 1 - Prob. 1.10Q

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor. To compute: The total product cost and period cost which are required to prepare the financial statements.

Introduction: Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor. To compute: The incremental cost which is helpful in decision-making.

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Chapter 1 Solutions

Introduction:

Direct cost: When a cost is directly linked with the production of certain goods or services, it is termed as direct cost. Examples of direct cost are direct material, direct labor.

To compute: The incremental cost which is helpful in decision-making.