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Definitions of manufacturing concepts 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
what is cost accounting
XYZ Co. manufactures automation machinery according to customer specifications. The company is relatively new and has grown each year. XYZ Co. operated at about 75% of practical
1. The bank added another company's deposit to our account. This would be included on the bank reconciliation as a(n). a) addition to the balance per books. b) subtraction from the
mojor elements of cost sheet
Relationship among Financial Accounting and Cost Accounting The difference among management and cost accounting may be highlighted by using a number of questions namely as;
fixed expenses are incurred equally in the two half year periods,calculate
Loring Company had the following data for the month: Variable costs per unit: Direct Materials $4 Direct Labor 3.20 Variable Overhead 1 Variable selling expense 0.40 Fixed Ov
Accrued income is an amount earned although not in reality received during the accounting period or till the date of preparation of last accounts for the period concerned. The firs
Where the liabilities are identified but the amounts cannot be precisely found, we estimate the liability and give for it as a liability. A common illustration is income tax payabl
Cost sheet is a declaration of cost for a product for given period of time.
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