A all raw materials used were also consumed b total

This preview shows page 3 - 6 out of 19 pages.

a.All raw materials used were also consumed.b.Total manufacturing costs equal Cost of Goods Soldc.Total manufacturing costs equal Cost of Goods Manufacturedd.Total manufacturing costs equal Cost of Goods Manufactured and Cost of Goods Solde.All units started this period, where also completed this period.
In High-Low method, what does the slope represent?
As activity volume changes within the relevant range, costs that tend to remain the same include:
The determination of a cost as being either direct or indirect depends upon
Which of the following statements about normal costing is TRUE?
At May 31, 2012, Smythe Inc. has $4,500 in beginning raw materials, $6,000 of direct labour. Ifmanufacturing overhead was $10,500, total manufacturing costs was $50,500 and total rawmaterial purchases were $36,000, how much is ending amount of raw materials?
Following are the budgeted costs for a manufacturing plant producingcustom products:Materials (70% direct and 30% indirect)$15,000Labour (60% direct and 40% indirect)12,000Supervision5,000Amortization10,000Utilities4,860Total$46,860The company uses a normal costing system and overhead is allocated on thebasis of direct labour cost. If actual direct labour cost was $7,500, theoverhead allocated was=
Product costs are inventoriable costs.
Fixed costs appear to vary on a per-unit basis but are fixed in total.

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 19 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Winter
Professor
T.HUTCHISON
Tags
Willey

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture