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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
The Smiths decided to convert Ron's home into a furnished rental house. After several minor repairs (touching up the paint, replacing screens, pressure-washing), the property was a
what is cost
i have a factory and 87 employees . we have a closure plan in 12 months. what would be the charges?
what are thereasons for holding inventories
Direct Labour Efficiency Variances It is the difference between the standard hours allowed for the actual production achieved and the hours actually worked, all valued at THE
Time Rate System - Labour Remuneration It may be a high day rate or a flat time rate. Under flat time rate, all worker is paid for the time spend without considering the vol
Define cost behavior and Describe types of costs.
Determine why JIT, TQM and AMTs may not always be entirely compatible with the practice of standard costing.
If the net income under marginal costing is #100,000, calculate absorption costing, if opening and closing inventories are #20,000 and #15,000
When assets are replaced during the anticipated life of the project, or at the end of the anticipated life of the project, they are sold at their pre-determined scrap values. Incom
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