What is mean direct and indirect labor?

Q: What is equivalent production? Explain in terms of its effect on computed unit costs.

A: Process costing: It is a type of costing method, where the direct costs are accumulated and indirect…

Q: What are transferred in costs? When do they occur?

A: Transferred in costs: Cost that is assigned to partially completed products that have been finished…

Q: What are the three categories of manufacturing costs?

A: Manufacturing costs are the costs of materials plus cost to convert the material into products. All…

Q: What is the difference between product costs and period costs?

A: Step 1 Costs incurred for the production of goods is referred to as product cost.  Direct materials,…

Q: Distinguish between direct labor and indirect labor.

A:

Q: What are the three types of manufacturing cost?

A: Manufacturing cost: Manufacturing cost is the sum total of various costs used or incurred in the…

Q: Define indirect labor.

A: Labour are those people who are engaged in the organisation either for the purpose of production or…

Q: Describe the  idle-time categories of indirect labor

A: Overheads are the cost and the expenses a company incurs for the production of a particular goods or…

Q: What does the following statement mean? “Accounting for overhead involves an important costbenefit…

A: Overheads are typically accounted by accumulating costs and dividing the total costs by the total…

Q: What is included in indirect materials and indirect labor ?

A:

Q: The total cost of work in process, end is?

A: Equivalent units concept is used when opening or ending work in progress is not 100% complete but…

Q: What is the cost measurement? cost accumulation? what is the difference between the two?

A: Cost is the monetary value of an item or a service. While producing an item, there may be various…

Q: What is a cost of production report and what information does it show?

A: Production means conversion of raw materials into finished goods and the process involved is…

Q: What means of cost

A: Cost denotes the amount of money that a company spends on the creation or production of goods or…

Q: Define manufacturing overhead costs with an example?

A: All manufacturing costs that are related to the production cost, but that is not directly related…

Q: What is meant by the term overhead application rate ?

A: Overhead: It refers to an ongoing or continuing expense that is centrally incurred by a company in…

Q: what is the difference in unit costs?

A: Solution:- Given,  Steel Costing = 8 Ounce Aluminum Costing = 5 Ounce Penalty for each extra pound =…

Q: What are the two primary elements that influence the amount of overhead that is absorbed?

A: Whenever overheads are absorbed in a rate determined by objective data, the absorbed overhead should…

Q: The cost equation and the distinction between product and period costs are described

A: The cost equation and the distinction between product and period costs are described will be…

Q: How much is Work in Process-Direct Labor?

A: Payroll The process of payroll to calculate the total labor hours which are included in the time…

Q: Is labor a true variable cost?

A: Direct labor cost is the cost involved in payment of wages to the laborers who are involved in…

Q: Which does not belong to a category? * a. Labor b. Materials c. Overhead d. Purchases

A: Answer: Purchase

Q: Define the terms sunk cost and differential cost.

A: Differential cost:  Differential cost is the change in total cost due to increase or decrease in…

Q: What connection exists between unit profit and labor costs?

A: A cost is the amount of money that was expended during the production or delivery of a good or…

Q: Prime cost is? A)Group of answer choices B)indirect materials cost and direct labor cost.…

A: Prime cost refers to the cost related to direct labour and direct material  For example in the…

Q: hat is distinguish between product and period cos

A: Product costs are the costs directly linked with the creation of a product or service for sale.…

Q: Differentiate between operating costs and administrative costs?

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: What is the definition of a cost object?

A: This question explains about the cost object.

Q: what are the three major components of product costs: direct materials, direct labor, and…

A: The costs of producing a product are referred to as product costs. Direct material, direct labour,…

Q: What is meant by the statement that “labor costing is related to motion costing”

A: Labor Cost- Labor is the only factor in the organization which have unlimited productivity. Labor…

Q: Why are overhead costs allocated to products and not traced to products as direct materials and…

A: Given: The allocated overhead cost of products is not traced as direct materials to products.

Q: Explain the difference between a direct cost and an indirect cost.

A: Direct Cost: A direct cost is a cost that can directly be associated with a particular department or…

Q: Which of the following is not a manufacturing cost category? a)Cost of goods sold b)Direct materials…

A: MANUFACTURING COSTS INCLUDE -   - direct material - direct labor - manufacturing overheads.

Q: Product costs are also called:

A: Product costs are the direct costs associated with the manufacturing of a product and therefore…

Q: per direct labor hou

A: Sollution:- Predetermined shop overhead rate:-                                           =…

Q: Define direct manufacturing-labor costs with an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Why are fixed-overhead costs sometimes called capacity-producing costs?

A: Overhead costs Overhead cost or overhead expenses refer to the cost which is used to increase the…

Q: Define direct material costs with an example?

A: Cost: Cost refers to the expenses incurred by the business to earn revenue from sales, in other…

Q: Why are product costs also called inventoriable costs?

A: Product costs: The costs incurred to acquire the merchandise, ship the stock, prepare the…

Q: What is the difference between direct materials, indirect materials, direct labor, and indirect…

A:

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.