Costs and Manufacturing Overhead
what is the formula for predetermined overhead rate
-estimated manufacturing overhead cost divided by estimated
which of manufacturing overhead
-it can, it must be a manufacturing, indirect
labor costs that are easily traced to a job
-direct
which of indirect labor cost examples
-maintenance
into which of the companies classify manufacturing cost
-direct labor, manufacturing, direct, materials
a factor that causes overhead costs is called
-cost driver
what kinds of costs are assigned to units of product in absorption costing
-variable manufacturing, fixed manufacturing
a journal entry that debits raw materials and credits accounts payable is recording the
-purchase of materials
put the steps for calculating direct materials on the schedule of cost of goods manufactured in order
-raw materials inventory, add, total, deduct raw, raw materials, deduct indirect
what account is debited for the issuance of direct materials
-work in process
a job cost sheet contains
-manufacturing, materials, labor
when a job is completed its costs are transferred out of
-finished goods
smith inc uses a job order costing system with the predetermined overhead direct materials + direct labor+pre overdead rate*actual machine-hours=43200
what is the formula for applying overhead to a specific job
-predetermined
which costs can be directly traced to a particular product
-direct labor, direct materials what is debited in the debited in the journal entry to record the purchase of materials
-raw materials
what accounts are debited in the journal ..production
-work in process and manufacturing
manufacturing overhead costs
-are indirect, consist
What is credited in the journal…materials
-accounts payable
the schedule of cost of goods
-manufactured
Manufacturing overhead costs consist of all manufacturing costs other direct
-true
Which of included in total cost if a job
-applied, direct materials, direct
-estimated manufacturing overhead cost divided by estimated
which of manufacturing overhead
-it can, it must be a manufacturing, indirect
labor costs that are easily traced to a job
-direct
which of indirect labor cost examples
-maintenance
into which of the companies classify manufacturing cost
-direct labor, manufacturing, direct, materials
a factor that causes overhead costs is called
-cost driver
what kinds of costs are assigned to units of product in absorption costing
-variable manufacturing, fixed manufacturing
a journal entry that debits raw materials and credits accounts payable is recording the
-purchase of materials
put the steps for calculating direct materials on the schedule of cost of goods manufactured in order
-raw materials inventory, add, total, deduct raw, raw materials, deduct indirect
what account is debited for the issuance of direct materials
-work in process
a job cost sheet contains
-manufacturing, materials, labor
when a job is completed its costs are transferred out of
-finished goods
smith inc uses a job order costing system with the predetermined overhead direct materials + direct labor+pre overdead rate*actual machine-hours=43200
what is the formula for applying overhead to a specific job
-predetermined
which costs can be directly traced to a particular product
-direct labor, direct materials what is debited in the debited in the journal entry to record the purchase of materials
-raw materials
what accounts are debited in the journal ..production
-work in process and manufacturing
manufacturing overhead costs
-are indirect, consist
What is credited in the journal…materials
-accounts payable
the schedule of cost of goods
-manufactured
Manufacturing overhead costs consist of all manufacturing costs other direct
-true
Which of included in total cost if a job
-applied, direct materials, direct