Nonmanufacturing costs - Study guides, Class notes & Summaries

Indirect Labor is a part of? A. Prime Cost / B. Conversion Cost / C. Period Cost / D. Nonmanufacturing Cost correct answers B. Conversion Cost The difference between the overhead cost applied to Work in Process and the actual overhead costs of a period is termed ? correct answers underapplied or overapplied overhead. POHR= ? divided by Estimated Total Units in the allocation base for coming period correct answers POHR = Estimated Total Amount of M.O.H. Cost for the Current...

ACCT 2121 Mid-term Exam 2022 MCQ Q1 (1 point) In multiproduct situations, when the sales mix shifts toward the product with the highest contribution margin per unit, then: A) total revenues will decrease B) breakeven quantity will increase C) total contribution margin will decrease D) operating income will increase Q2 (1 point) Hope company produces and sells 500 units of its only product per month at the selling price of $1,200. The variable manufacturing cost of the 500 units is...

What is the definition of Managerial Accounting? Correct Answer-provides economic and financial information for managers and other *internal* users. How many ways does managerial accounting differ from financial accounting? List the differences. Correct Answer-5: 1. Primary Users of reports 2. Types and frequency of reports 3. Purpose of reports 4. Content of reports 5. Verification process Name 8 activities Managerial Accountants engage in. Correct Answer-1. Explaining manufacturing ...

Describe a financial accountant. - ANSWERSprovides historical information to external users in accordance with GAAP Describe a managerial accountant. - ANSWERS- provides detailed financial information and nonfinancial information to internal users for decision making, planning, and control purposes - planning, directing, controlling ___ establishes goal - ANSWERSPlanning ___ assesses whether goals were achieved. - ANSWERSControl Describe the hierarchy of typical organization. - ANSW...

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A306 Final Exam Questions And Complete Solutions

Managerial Accounting Exam 1 With 100% Correct And Verified Answers Manufacturing overhead - Correct Answer-all manufacturing costs except direct materials and direct labor; i.e. indirect manufacturing costs, maintenance and reparis on production equipment, property taxes, depreciation, insurance on manufacturing facilities Direct Materials - Correct Answer-Materials that become an integral part of a finished product and whose costs can be conveniently traced to it. Direct Labor - Correct...

Managerial Accounting Exam 1 (Ch. 1-3) || All Questions & Answers (Rated A+) Managerial Accounting Exam 1 (Ch. 1-3) || All Questions & Answers (Rated A+) Indirect Labor is a part of? A. Prime Cost / B. Conversion Cost / C. Period Cost / D. Nonmanufacturing Cost - ANSWER - B. Conversion Cost The difference between the overhead cost applied to Work in Process and the actual overhead costs of a period is termed? - ANSWER - underapplied or overapplied overhead. POHR=? divided...

MGSC 395 Exam 1 Review Practice Test. White Tiger Electronics produces CD players using an automated assembly line process. The standard cost of CD players is $143 per unit (labor, $31; materials, $67;and overhead, $45). The sales price is $300 per unit. To achieve a 13 percent multifactor productivity improvement by reducing materials costs only, one needs to reduce the materials cost by __ percent - CORRECT ANSWER 300 / 143 = 2.0979 2.0979*1.13 = 2.370629 300/2.370629= 126.54867 ...

Manufacturing overhead all manufacturing costs except direct materials and direct labor; i.e. indirect manufacturing costs, maintenance and reparis on production equipment, property taxes, depreciation, insurance on manufacturing facilities Direct Materials Materials that become an integral part of a finished product and whose costs can be conveniently traced to it. Direct Labor Factory labor costs that can be easily traced to individual units of product. Also called touch labor. Nonm...