Distinguish prime cost from conversion cost. Does prime cost plus conversion cost equal the total manufacturing cost?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 61% (18 reviews)
Prime cost is the cost of direct materials and direct labor it represents cost specifically ide...View the full answer
Answered By
Somshukla Chakraborty
I have a teaching experience of more than 4 years by now in diverse subjects like History,Geography,Political Science,Sociology,Business Enterprise,Economics,Environmental Management etc.I teach students from classes 9-12 and undergraduate students.I boards I handle are IB,IGCSE, state boards,ICSE, CBSE.I am passionate about teaching.Full satisfaction of the students is my main goal.
I have completed my graduation and master's in history from Jadavpur University Kolkata,India in 2012 and I have completed my B.Ed from the same University in 2013. I have taught in a reputed school of Kolkata (subjects-History,Geography,Civics,Political Science) from 2014-2016.I worked as a guest lecturer of history in a college of Kolkata for 2 years teaching students of 1st ,2nd and 3rd year. I taught Ancient and Modern Indian history there.I have taught in another school in Mohali,Punjab teaching students from classes 9-12.Presently I am working as an online tutor with concept tutors,Bangalore,India(Carve Niche Pvt.Ltd.) for the last 1year and also have been appointed as an online history tutor by Course Hero(California,U.S) and Vidyalai.com(Chennai,India).
4.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Cost Accounting questions
-
Distinguish between prime costs and conversion costs.
-
Prime Cost and Conversion Cost Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials, $400,000; Direct labor, $80,000;...
-
Does a conversion process occur in manufacturing companies only? Why or why not?
-
Markku Antero Oy produces perfume. To make this perfume, Markku Antero uses three different types of fluid. Tartarus, Erebus and Uranus are used in standard proportions of -14-0, -3- 10 and -3- 10,...
-
Refer to the data in E13-11 and assume instead that Mustafa Limited has chosen not to recognize paid sick leave until it is used, and has chosen to accrue vacation time at expected future rates of...
-
The Information Please Almanac provides data on the ages at inauguration and of death for the presidents of the United States. We give those data on the WeissStats CD for those presidents who are not...
-
Write-Off of Uncollectible Accounts \section*{CORNERSTONE 5.2} The Rock has credit sales of \(\$ 500,000\) during 2018 and estimates at the end of 2018 that \(2 \%\) of these credit sales will...
-
Using the appropriate interest table, answer each of the following questions. (Each case is independent of the others.) (a) What is the future value of $9,000 at the end of 5 periods at 8% compounded...
-
The third step in the closing process is to transfer the balance in which of the following accounts to the permanent owners equity account? A ) owners capital. B ) income summary. C ) revenue D )...
-
Read the given description of a CSP and write solution as per the given questions: [20] YCPS@GIFT is going to arrange a gaming competition at campus. They are considering using seven games for this...
-
How would you define the following costs: direct materials, indirect materials, direct labor, indirect labor, and factory overhead?
-
In what way does the accounting treatment of factory overhead differ from that of direct materials and direct labor costs?
-
Will dropping a magnet down a long copper tube produce a current in the walls of the tube? Explain.
-
The work spindle of a lathe will be slowed down by a disc brake. The coefficient of friction at the brake pad is m= 0.25 and the normal force is FN = 16 kN. Which is of the following values for the...
-
Take a moment to think about your values around money. Then, look at the top three to four categories where you are spending most of your beans. How do these choices reflect your values around money?
-
Sanjay Products uses a job order cost system and activity-based costing. Sanjay is preparing two bids for jobs: Job 4742, an order for 15 intricate custom units, and job 4746, an order for 6 standard...
-
Sedap Rasa Sdn Bhd produces a product by passing through two consecutive processes. The following data are related to the two processes for January 2018. Process A Input for process A: Material...
-
On July 1 , 2 0 2 3 the Meredith company signed a $ 4 0 , 0 0 0 noninterest - bearing note to purchase equipment. The $ 4 0 , 0 0 0 payment is due on September 1 , 2 0 2 5 . Assume that 8 % is a...
-
Derive the expression for the tension required in a simply supported transmission line modeled as a string of length \(l\) and linear density \(ho\), such that its fundamental frequency for...
-
A spacecraft has left the earth and is moving toward Mars. An observer on the earth finds that, relative to measurements made when the spacecraft was at rest, its a. length is shorter b. KE is less...
-
Find each limit in Problems 3760. Note that LHpitals rule does not apply to every problem, and some problems will require more than one application of LHpitals rule. lim x 0 4x - 1 1 - 4x x 2
-
After 15 Years of working for one employer, you transfer to a new job. During these years your employer contributed (that is, she diverted from your salary) $1500 each year to an account for your...
-
A finance company is using the following "Money by Mail" offer. Calculate the yearly nominal IRR received by the company if a customer chooses the loan of $2000 and accepts the credit insurance (Life...
-
A finance company is using the "Money by Mail" offer shown in Problem 7-43. Calculate the yearly nominal IRR received by the company if a customer chooses the $3000 loan but declines the credit...
-
Job Costing at Boeing Values: Direct Materials Cost: $500,000 Direct Labor Cost: $300,000 Manufacturing Overhead: $200,000 Requirements: Calculate the total manufacturing cost for Boeing's project....
-
The following information is available for ABC Company for the year ended December 31, 2023: Item Amount ($) Sales Revenue 13,500,000 Cost of Goods Sold 6,750,000 Gross Profit ? Operating Expenses...
-
Wendell's Donut Shoppe is investigating the purchase of a new $ 3 7 , 7 0 0 donut - making machine. The new machine would permit the company to reduce the amount of part - time help needed, at a cost...
Proceedings Of The Annual Conference Of Taxtatin Volume 9 1st Edition - ISBN: 1235827542 - Free Book
Study smarter with the SolutionInn App