Cost Accounting, Student Value Edition (15th Edition)
15th Edition
ISBN: 9780133428858
Author: Charles T. Horngren, Srikant M. Datar, Madhav V. Rajan
Publisher: PEARSON
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Chapter 2, Problem 2.12Q
Define the following: direct material
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Chapter 2 Solutions
Cost Accounting, Student Value Edition (15th Edition)
Ch. 2 - Define cost object and give three examples.Ch. 2 - Define direct costs and indirect costs.Ch. 2 - Prob. 2.3QCh. 2 - Name three factors that will affect the...Ch. 2 - Define variable cost and fixed cost. Give an...Ch. 2 - What is a cost driver? Give one example.Ch. 2 - What is the relevant range? What role does the...Ch. 2 - Explain why unit costs must often be interpreted...Ch. 2 - Prob. 2.9QCh. 2 - What are three different types of inventory that...
Ch. 2 - Distinguish between inventoriable costs and period...Ch. 2 - Define the following: direct material costs,...Ch. 2 - Describe the overtime-premium and idle-time...Ch. 2 - Define product cost. Describe three different...Ch. 2 - What are three common features of cost accounting...Ch. 2 - Prob. 2.16ECh. 2 - Prob. 2.17ECh. 2 - Classification of costs, service sector. Market...Ch. 2 - Classification of costs, merchandising sector....Ch. 2 - Prob. 2.20ECh. 2 - Variable costs, fixed costs, total costs. Bridget...Ch. 2 - Prob. 2.22ECh. 2 - Prob. 2.23ECh. 2 - Prob. 2.24ECh. 2 - Cost drivers and functions. The representative...Ch. 2 - Prob. 2.26ECh. 2 - Total and unit cost, decision making. Gayles...Ch. 2 - Prob. 2.28ECh. 2 - Prob. 2.29PCh. 2 - Prob. 2.30PCh. 2 - Prob. 2.31PCh. 2 - Prob. 2.32PCh. 2 - Prob. 2.33PCh. 2 - Prob. 2.34PCh. 2 - Prob. 2.35PCh. 2 - Prob. 2.36PCh. 2 - Prob. 2.37PCh. 2 - Prob. 2.38PCh. 2 - Prob. 2.39PCh. 2 - Prob. 2.40PCh. 2 - Prob. 2.41PCh. 2 - Prob. 2.42P
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- Product (or manufacturing) costs consist of a. direct materials, direct labor, and selling costs. b. direct materials, direct labor, manufacturing overhead, and operating expense. c. administrative costs and conversion costs. d. prime costs and manufacturing overhead. e. selling and administrative costs.arrow_forwardWhy are labor and manufacturing overhead grouped together as conversion costs?arrow_forwardWhat are the basic elements of production cost?arrow_forward
- Describe the product life cycle. How do unit-level costs behave in relation to the product life cycle? Batch-level costs? Product-level costs? Facility-level costs?arrow_forwardWhat manufacturing cost term is used to describe the cost of materials that are an integral part of the manufactured end product?arrow_forwardWhat are the three categories of manufacturing costs included in the cost of finished goods and the cost of work in process?arrow_forward
- How are standards for materials and labor costs determined?arrow_forwardWhich of the following is a conversion cost? A. raw materials B. direct labor C. sales commissions D. direct material usedarrow_forwardWhat are equivalent units of production, and how are they used in process costing?arrow_forward
- Using the costs listed in the previous problem, classify the costs as either product costs or period costs.arrow_forwardWhich of the following is not considered a product cost? A. direct materials B. direct labor C. indirect materials D. selling expensearrow_forwardWhy are product costs assigned to the product and period costs immediately expensed?arrow_forward
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