Definitions of manufacturing concepts, Cost Accounting

Assignment Help:
Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended:
Materials and supplies used
Brass $75,000
Repair parts 16,000
Machine lubricants 9,000
Wages and salaries Machine operators 128,000
Production supervisors 64,000
Maintenance personnel 41,000
Other factory overhead Variable 35,000
Fixed 46,000
Sales commissions 20,000

Compute:
a. Total direct materials consumed
b. Total direct labor
c. Total prime cost
d. Total conversion cost


Related Discussions:- Definitions of manufacturing concepts

Marginal cost, Marginal Cost Marginal cost is the change in a firm's co...

Marginal Cost Marginal cost is the change in a firm's cost of production. It is related to a unit change in its output, or the added cost of producing the next unit. The margin

Activity-based costing and throughput accounting, The  basic  principles ...

The  basic  principles  of  standard  costing  and  variance  analysis  may  be  adapted  to  the needs of  relatively  new  methods  of  accounting  such  as  activity-based  cost

Variable overhead variance, Variable Overhead Variance This is the dis...

Variable Overhead Variance This is the dissimilarity between the variable overheads absorbed and the actual variable overheads warned. Therefore it can be described as the und

Expenditure for the base period and the current period, 1. The table below ...

1. The table below gives data for Southland where there are three consumption goods: bananas, coconuts and grapes. Goods Quantity in base period basket

What is callable preferred stock, What is callable preferred stock? Why do ...

What is callable preferred stock? Why do corporations issue such stock? Given the different features that are associated with stock (callable, cumulative, preferred, etc.), what ty

Business Combinations, what are the legal distinctions between a business c...

what are the legal distinctions between a business combination, a merger, and a consolidation.

Cost accounting, Cost Accounting Cost accounting has been defined via ...

Cost Accounting Cost accounting has been defined via many accounting scholars in different forums. There is no single watertight definition of cost accounting, however the var

Features of jit, What are the major features of JIT?

What are the major features of JIT?

Prepare a statement of comprehensive income, Good Food Company is a local m...

Good Food Company is a local manufacturer of instant noodles. Established in 2005, their business has been growing steadily. Their products, which are available in 3 flavors, are s

Management accounting, Management Accounting It is the part of account...

Management Accounting It is the part of accounting such provides special-reason statements and reports to other persons and management inside the organization.  The informatio

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd