Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I need to answer these questions and work them out Prime cost consists of direct materials and what? Direct labour Manufacturing overhead indirect materials Indirect

image text in transcribedI need to answer these questions and work them out
Prime cost consists of direct materials and what? Direct labour Manufacturing overhead indirect materials Indirect materials. Cost of goods manufactured. What does manufacturing overhead cost consist of ? All manufacturing costs. All manufacturing costs, EXXEPT direct materials and direct labour. Indirect materials but NOT indirect labour. Indirect labour but NOT indirect materials. For which of the following industries would it NOT be appropriate to use process costing? Custom furniture building. Oil refining. Grain milling Newsprint production. Lucas Company uses the weighted-average method in its process costing system. The company adds materials at the beginning of the process in the Forming Department, which is the first of two stages in its production process. Information concerning operations in the Forming Department in October follows: What was the materials cost of work in process on October 31? $3,060 $5,520 $6,000 $6,120 Within the relevant range of activity, how will variable cost per unit behave? It will increase in proportion with the level of activity. It will remain cannot be determined without additional information. Contribution margin is the excess of revenges over which of the following? Cost of goods sold. Manufacturing cost. All direct costs. All variable costs

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

recer anwer to the nearest dilas, if nocestary

Answered: 1 week ago