Acct 505 practice midterm Study guides, Class notes & Summaries

ACCT 505 Practice Midterm Page 1 1. Indirect labor is a part of a prime cost. b conversion cost. - c period cost. d nonmanufacturing cost. Answer: B Explanation: Conversion costs are all m anufacturing costs other than direct materials cost. 2. Prime cost and conversion cost share what common element of total cost? A Direct materials B Direct labor -- C Variable overhead D Variable overhead Answer: B Explanation: Prime costs and conversion costs have direct labor cost as an overlapping item. For...

Indirect labor is a part of Prime cost and conversion cost share what common element of total cost? On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Manufactured figure represents Which of the following would most likely be included as part of manufacturing overhead in the production of a wooden table?

Indirect labor is a part of Prime cost and conversion cost share what common element of total cost? On the Schedule of Cost of Goods Manufactured, the final Cost of Goods Manufactured figure represents Which of the following would most likely be included as part of manufacturing overhead in the production of a wooden table? Page 2 Overapplied overhead means that Departmental overhead rates are generally preferred to plant-wide overhead rates when Discretionary fixed costs An example of a committ...

ACCT 505 Midterm Corrected practice questions and answers study guide ACCT 505 Midterm Corrected practice questions and answers study guide