Identify whether each of the following costs should be classified as product costs or period costs.
(a) Select a type of costs Period CostsProduct Costs Manufacturing overhead. (b) Select a type of costs Period CostsProduct …
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials, direct labor, or manufacturing overhead. (a) Windshield. (b) Engine. (c) Wages of assembly line worker. (d) Depreciation of factory machinery. (e) Factory machinery lubricants. (f) Tires. (g) Steering wheel. (h) Salary of painting supervisor.
EXPERT ANSWER Direct Materials Direct materials are the materials which become part of the product. For example, if a restaurant sells some dish prepared with flour, sugar, egg, milk, oil and spice: all these ingredients become part of the dish and hence considered as direct material. In engineering industry , all the items which are …
Determine whether each of the following costs should be classified as direct materials, direct labor, or manufacturing overhead.
EXPERT ANSWER 1. Frames and tires used in manufacturing bicycles- Direct Materials 2. Wages paid to production workers- Direct Labor 3. Insurance on factory equipment and machinery- Manufacturing Overhead 4. Depreciation on factory equipment- Manufacturing Overhead
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials, direct labor, or manufacturing overhead.
EXPERT ANSWER a Direct Materials Windshield. b Direct Materials Engine. c Direct Labor Wages of assembly line worker. d Manufacturing Overhead Depreciation of factory machinery. e Manufacturing Overhead Factory machinery lubricants. f Direct Materials Tires g Direct Materials Steering wheel. h Manufacturing Overhead Salary of painting supervisor.
Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials, direct labor, or manufacturing overhead.
OPTIONSDIRECT MATERIALS DIRECT LABOR MANUFACTURING OVERHEAD (a) select a type of costs Direct MaterialsDirect LaborManufacturing Overhead Windshield. (b) select a type of costs Direct MaterialsDirect LaborManufacturing Overhead Engine. (c) select a type of costs Direct MaterialsDirect LaborManufacturing Overhead Wages of assembly line worker. (d) select a type of costs Direct MaterialsDirect LaborManufacturing Overhead Depreciation of …
Determine whether each of the following cost should be classified as direct materials (DM), direct labor (DL), or manufacturing overhead (MO).
(a) ____ Frames and tires used in manufacturing bicycles. (b) ____Wages paid to production workers. (c) ____ Insurance on Factory equipment and machinery (d) ____ Depreciation on factory equipment EXPERT ANSWER
C Coding, gcc compiler
EXPERT ANSWER SOURCE CODE: #include <stdio.h> int main( int argc, char *argv[] ) { FILE *fp1,*fp2;fp1 = fopen(argv[1], “r”);fp2 = fopen(argv[2], “w+”);int ch=getc(fp1);while(ch != EOF){if(ch==’&’){putc(‘&’,fp2);putc(‘a’,fp2);putc(‘m’,fp2);putc(‘p’,fp2);putc(‘;’,fp2);}else if(ch=='<‘){putc(‘&’,fp2);putc(‘l’,fp2);putc(‘t’,fp2);putc(‘;’,fp2);}else if(ch==’>’){putc(‘&’,fp2);putc(‘g’,fp2);putc(‘t’,fp2);putc(‘;’,fp2);}else if(ch==’”‘){putc(‘&’,fp2);putc(‘q’,fp2);putc(‘u’,fp2);putc(‘t’,fp2);putc(‘;’,fp2);}else{putc(ch,fp2);}ch=getc(fp1);}fclose(fp1);fclose(fp2);return 1; }
Determine whether each of the following costs should be classified as direct materials, direct labor, or manufacturing overhead.
(a) Direct MaterialsDirect LaborManufacturing Overhead Frames and tires used in manufacturing bicycles. (b) Direct MaterialsDirect LaborManufacturing Overhead Wages paid to production workers. (c) Direct MaterialsDirect LaborManufacturing Overhead Insurance on factory equipment and machinery. (d) Direct MaterialsDirect LaborManufacturing Overhead Depreciation on factory equipment. EXPERT ANSWER Answer a) Frames and Tires used in manufacturing of bicycles: It is …
Complete the following comparison table between managerial and financial accounting.
Financial Accounting Managerial Accounting Primary users of reports select an option Quarterly and AnnuallyGenerally Accepted Accounting PrinciplesInternal UsersGeneral-PurposeAs Frequently as NeededRelevance to DecisionsInternal ReportsSpecial-Purpose Information for Specific DecisionsAnnual Audit by Certified Public AccountantFinancial StatementsNo Independent AuditsExternal Users select an option No Independent AuditsExternal UsersSpecial-Purpose Information for Specific DecisionsAnnual Audit by Certified Public AccountantGeneral-PurposeGenerally Accepted Accounting …
Complete the following comparison table between managerial and financial accounting. Read More »
Following is a list of statements about managerial accounting and financial accounting. Indicate whether the statement is true or false.
1. Financial accounting focuses on providing information to external users. select an option FalseTrue 2. Analyzing cost-volume-profit relationships is part of managerial accounting. select an option TrueFalse 3. Part of managerial accounting is evaluating the impact on decision-making of alternative approaches for costing inventory. select an option TrueFalse 4. Preparation of budgets is part of …