Who is to inspect work done by subcontractors -

Q: (a) Perform the first-stage allocation of costs to the activity cost pools. (b) Compute the activity…

A: Astoms Asbestos Ltd. is in the business of removing potentially toxic asbestos insulation and…

Q: Who should be responsible for coordination of work done in each of the following cases and provide…

A: The contact has been given by the owner to the contractor in order to get any work done.

Q: Consider which of the above costs is relevant to the decision situation? a. The cost of existing…

A: Option (b) i.e. The cost of special electrical wiring, in an equipment acquisition decision, is the…

Q: How does the production order record provide a control over the quantity of materials used in…

A: A production order is an order issued in a company to produce a particular quantity of materials…

Q: Maintaining internal control over labor costs is necessary for a cost accounting system to function…

A: Internal control is a process used by a company's board of directors, management, and other…

Q: When a job or goods are completed,

A: Finished good is a product that is completed and ready to sell in the market. Work in process is the…

Q: Which of the following is the proper classification of activities according to activity level for a…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: When Mr. Avila orders materials for his construction business, he sends a duplicate copy of the…

A: Internal control Internal control refers to rules, regulations, and procedures implemented for…

Q: Which one of the following would not be classified as manufacturing overhead? O Indirect labor…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Equipment includes machinery used in manufacturing, computers and other office equipment, vehicles,…

A: Property, Plant, and Equipment: Property, Plant, and Equipment refers to the fixed assets, having a…

Q: Explain whether the production manager should be held accountable for each allocated cost as…

A: The performance of a manager should be evaluated using controllable costs only. All the other costs…

Q: Based on the knowledge of depreciation being recorded on a journal entry as a manufacturing overhead…

A: Depreciation refers to the permanent diminution in the worth of tangible assets. This could be due…

Q: Depreciation of Machinery would not be an element of factory overhead? Select one: a. True b. False

A: Factory overheads include all the indirect expenses incurred in the production process.

Q: What decisions would the Manhattan Construction Company be required to make in using the job costing…

A: Job Costing Method: Job costing is a way of accounting that is used to keep track of the costs of…

Q: Which of the following would not be an element of factory overhead?

A: Factory Overhead are not direct cost like direct materials and direct labor however they are helpful…

Q: Two positions have normally been taken with respect to the recording of fixed manufacturing overhead…

A: Fixed manufacturing overheads: The cost which is incurred on the manufacturing of the product…

Q: What are the procedures for closing the factory overhead account?

A: Factory Overhead Cost:   Factory overhead cost is the cost other than the direct material cost, and…

Q: Who of the agreed in advance is not a cost of the product? The cost of the factory's fuel The…

A: Product cost:- Product cost is the cost which incurred to manufacture a product. It means it is a…

Q: Which one of the following would not be classified as manufacturing overhead? Indirect labor Direct…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which one of the following would be classified as direct labour?   Personnel manager in a company…

A: Direct costs are defined as the cost that is incurred directly in the production process of the…

Q: Who might a plant accountant consult with when establish-ing direct labor quantity or rate…

A: Direct labor: Direct labor includes the wages of the employees who are directly involved in…

Q: An entrepreneur of a custom sign company is reviewing reports showing the cost of printing machines,…

A: The key purpose of accounting is providing information to the users. This is done by using the…

Q: Which of the following would be the most appropriate basis for allocating the costs of plant…

A: Definition: Property, plant, and equipment: These assets are long-lived economic resources which are…

Q: For each of the following, give two examples of physical control that the client can use to protect…

A: Solution:- The following common methods of physical control as follows under:- Biometrics Thermal…

Q: Waterloo Company manufactures field monitoring equipment. The following represents accounts in its…

A: Cost accounting system is the system which is designed for the internal managers or inhouse as well…

Q: Which of the following is NOT an element of manufacturing overhead? Sales manager's salary Plant…

A: Manufacturing overhead means the cost incurred indirect in factory for the production of goods.

Q: An example of a nonproduction cost is   a.wages paid to assembly-line employees. b.manufacturing…

A: Cost of production means the addition of direct material , direct labor and factory overhead.…

Q: Classify the following items as per Total Quality Cost: Reporting & recording of defects:  Storing…

A: Total Quality Management is a method where it was used to improve and enhance the quality of the…

Q: Which of the following would be classified as indirect labor? Select one: a. An audit clerk in a…

A: Introduction: Indirect labor: The labor who are directly not involved in the process of conversion…

Q: Determine whether each of the following costs should be classified as product costs or period costs.…

A: Product cost means the cost of producing one unit of finished goods. Period cost means the cost that…

Q: If the direct method of allocation is used, how much of the supervision departinent's eost would be…

A: Service department cost Allocation: the service department cost of a company is allocated to the…

Q: Supervisors in the work centers oversee the usage of raw material in production; explain why the…

A:

Q: What features of the cost accounting system would be expected to prevent the omission ofrecording…

A: Cost accounting is the branch of Accountancy associated with the cost of materials used in the…

Q: What events cause debits to be recorded in the Factory Overhead account? What events cause credits…

A:

Q: Classify the following costs as typically direct (D) or indirect (I): Project staff Audit and legal…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: What type of account would a manufacturing company use to record materials used throughout the…

A: Manufacturing Company:- These are those companies which engage in the production of goods by…

Q: An auditor reviews job cost sheets to test which transaction assertion?a. Occurrence.b.…

A: Audit:   It is an examination of the financial statements of the company. It helps in determining…

Q: Which of the following activities would be classified as a batch -level activity a. Training…

A: Batch level activity includes four types of activities - 1) Purchase orders processing 2) Production…

Q: Describe how the over or under application of overhead should be corrected in the accounting…

A: Over application of overhead: A corporation is said to have overapplied overhead when the actual…

Q: When a company constructs a building, the cost of the building includes materials and labor, design…

A: For the purpose of recording the cost of building in the books of accounts all the expenditures…

Q: What does the credit side of manufacturing overhead control account has?

A: Solution: Manufacturing overhead control account is used to record indirect manufacturing cost…

Q: The cost of inefficiencies caused by labour strikes is incurred in the cost of warehouse…

A: According to Para 16 of IAS 16 Property, Plant and Equipment, costs incurred that are directly…

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.