Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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Question
Chapter 1, Problem 2BE
To determine
Identify the given costs as direct materials (DM), direct labor (DL), or factory
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Identify the following costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher:a. Staples used to bind magazinesb. Wages of printing machine employeesc. Maintenance on printing machinesd. Paper used in the magazine
Plz explain it to in detail
A typical indirect labor cost for a manufacturer is:
a. factory insurance
b. sales office salaries
c. sales commissions
d. materials handling
Chapter 1 Solutions
Managerial Accounting
Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - What manufacturing cost term is used to describe...Ch. 1 - Distinguish between prime costs and conversion...Ch. 1 - What is the difference between a product cost and...Ch. 1 - Name the three inventory accounts for a...Ch. 1 - In what order should the three inventories of a...Ch. 1 - What are the three categories of manufacturing...Ch. 1 - How do the manufacturing costs incurred during a...Ch. 1 - How does the Cost of goods sold section of the...
Ch. 1 - Management process Three phases of the management...Ch. 1 - Prob. 2BECh. 1 - Prime and conversion costs Identify the following...Ch. 1 - Product and period costs Identify the following...Ch. 1 - Cost of goods sold, cost of goods manufactured...Ch. 1 - Jakes Cabins is a small motel chain with locations...Ch. 1 - Indicate whether each of the following costs of an...Ch. 1 - Indicate whether the following costs of Procter ...Ch. 1 - Prob. 3ECh. 1 - For apparel manufacturer Abercrombie Fitch, Inc....Ch. 1 - From the choices presented in parentheses, choose...Ch. 1 - Prob. 6ECh. 1 - Classifying costs In a service company A partial...Ch. 1 - Classifying costs The following is a manufacturing...Ch. 1 - Financial statements of a manufacturing firm The...Ch. 1 - Manufacturing company balance sheet Partial...Ch. 1 - Cost of direct materials used in production for a...Ch. 1 - Prob. 12ECh. 1 - Cost of goods manufactured for a manufacturing...Ch. 1 - Income statement for a manufacturing company Two...Ch. 1 - Statement of cost of goods manufactured for a...Ch. 1 - Cost of goods sold, profit margin, and net income...Ch. 1 - Cost flow relationships The following information...Ch. 1 - The following is a list of costs that were...Ch. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of Foothills Medical Centers costs...Ch. 1 - Manufacturing income statement, statement of cost...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Prob. 1PBCh. 1 - The following is a list of costs incurred by...Ch. 1 - A partial list of The Grand Hotels costs follows:...Ch. 1 - Several items are omitted from the income...Ch. 1 - Statement of cost of goods manufactured and income...Ch. 1 - Comfort Plus, Inc., has a hotel with 300 rooms in...Ch. 1 - Prob. 2MADCh. 1 - Comparing occupancy for two hotels Sunrise Suites...Ch. 1 - Prob. 4MADCh. 1 - Prob. 5MADCh. 1 - Prob. 1TIFCh. 1 - Communication Todd Johnson is the Vice President...Ch. 1 - For each of the following managers, describe how...Ch. 1 - The following situations describe scenarios that...Ch. 1 - Geek Chic Company provides computer repair...Ch. 1 - Which of the following items would not be...Ch. 1 - Prob. 2CMACh. 1 - A firm has 100,000 in direct materials costs,...Ch. 1 - In practice, items such as wood screws and glue...
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Similar questions
- Prime and conversion costs Identify the following costs as a prime cost (P), conversion cost (C), or both (B) for a magazine publisher: A. Paper used for the magazine B. Wages of printing machine employees C. Glue used to bind magazine D. Maintenance on printing machinesarrow_forwardWhen using job order costing for a professional service business, the primary product (service) costs are: A.Direct Materials and Overhead B.Direct Materials and Direct Labor C.Direct Materials. Direct Labor, and Overhead D. Direct Labor and Overheadarrow_forwardFollowing is a list of manufactured products. For each product, would a job order or a process cost system be used to account for the costs of production? a. lumber b. buildings c. airplanes d. gasoline e. cereal f. textbooks g. paint h. jeansarrow_forward
- During production, to what are the costs in job order costing applied? A. manufacturing overhead B. cost of goods sold C. each individual product D. each individual departmentarrow_forwardIn a job order cost system, factory wage expense is debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods soldarrow_forwardListed as follows are various costs found in businesses. Classify each cost as a fixed or variable cost, and as a product and/or period cost. Wages of administrative staff Shipping costs on merchandise sold Wages of workers assembling computers Cost of lease on factory equipment Insurance on factory Direct materials used in production of lamps Supervisor salary, factory Advertising costs Property taxes, factory Health insurance cost for company executives Rent on factoryarrow_forward
- In a job order cost system, raw materials purchased are debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods soldarrow_forwardFreeman Furnishings has summarized its data as shown: Compute the cost of goods manufactured, assuming that the overhead is allocated based on direct labor hoursarrow_forwardWhat are the sources for posting indirect labor cost to the indirect labor account in the factory overhead ledger?arrow_forward
- 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?arrow_forwardWhich 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 documentarrow_forwardDuring production, how are the costs in process costing accumulated? A. to cost of goods sold B. to each individual product C. to manufacturing overhead D. to each individual departmentarrow_forward
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