Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses. Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business. Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material. Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor. Manufacturing Overheads : The cost which is indirectly related to the production is known as manufacturing overheads. To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Question

Want to see the full answer?

Answer 1

Question

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

I am searching for the correct answer to this general accounting problem with proper accounting rules.

What is the company CM ratio?

What is the gross profit at standard?

Answer 2

Question

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Answer 6

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Answer 7

Chapter 19, Problem 19CDCP

To determine

Period Cost: The cost incurred after the production is completed is called period cost. It includes shipping, selling and office expenses.

Product Cost: Product cost is the total quantitative value of all the efforts and resources employed in for production. It includes all types of materials and human efforts used by a business.

Direct Materials: At the time of manufacturing, material which is directly related to the finished goods is known as direct material.

Direct Labor: The amount paid to the labor, directly associated with the process of conversion of the raw material into final goods, is known as direct labor.

Manufacturing Overheads: The cost which is indirectly related to the production is known as manufacturing overheads.

To describe: (a) The primary information needed by the managers, (b) the special purpose to use the management accounting reports and the name of the report and (c) classification of the cost.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 19 - Prob. 1Q Ch. 19 - Prob. 2Q Ch. 19 - Prob. 3Q Ch. 19 - Prob. 4Q Ch. 19 - Prob. 5Q Ch. 19 - Prob. 6Q Ch. 19 - Prob. 7Q Ch. 19 - Prob. 8Q Ch. 19 - Prob. 9Q Ch. 19 - Prob. 10Q

Videos

Want to see the full answer?

Chapter 19 Solutions