Direct Material cost: Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle. Direct Labor Cost: Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile. Factory Overhead Cost: Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment. To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

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Answer 1

Question

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

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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…

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Answer 2

Question

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

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Answer 3

Question

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

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Answer 4

Question

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

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Answer 5

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 6

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 7

Chapter 15, Problem 15.2BE

a.

To determine

Direct Material cost:

Direct material cost is the cost of the material which is directly involved in the production. It constitutes the major portion of the total cost of the finished product. For example: The cost of plastic is the direct material for manufacturing a bottle.

Direct Labor Cost:

Direct labor cost is the cost of the labor paid to the employees who are directly involved in converting the raw materials to the finished products. It constitutes the major portion of the total cost of the finished product. For example: Wages paid to the mechanic for repairing an automobile.

Factory Overhead Cost:

Factory overhead cost is the cost other than the direct material cost, and the direct labor cost which is not directly involved in the production process of converting the raw materials to the finished products. If the direct material cost or direct labor cost does not constitute the major portion of the total cost of the finished product, then it may be classified as the factory overhead cost. For example: Cost of repairing, and maintaining factory equipment.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 8

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 9

b.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 10

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 11

c.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 12

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 13

d.

To determine

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Answer 14

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Answer 15

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Ch. 15 - What are the major differentes between managerial...Ch. 15 - A. Differentiate between a department with line...Ch. 15 - What manufacturing cost term is used to describe...Ch. 15 - Prob. 4DQ Ch. 15 - What is the difference between a product cost and...Ch. 15 - Name the three inventory accounts for a...Ch. 15 - In What order should the three inventories of a...Ch. 15 - Prob. 8DQ Ch. 15 - Prob. 9DQ Ch. 15 - How does the Cost of Goods Sold section of the...

Solution Summary: The author explains that the cost of the staples used to bind magazines is direct material (DM) or Factory overheads cost (FO).

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

To identify: The given costs as direct materials (DM), direct labor (DL), or factory overhead (FO) for a magazine publisher.

Chapter 15 Solutions