Answered: 14. An example of labor-related costs…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter4: Accounting For Factory Overhead

Section: Chapter Questions

Problem 1E: Classify each of the following items of factory overhead as either a fixed or a variable cost....

See similar textbooks

Related questions

Question

14. An example of labor-related costs is:

a. fringe benefits

b. factory labor

c. bonus pay

d. operating expense

15. Wages in excess of the regular rate paid for work after normal closing time is:

a. Vacation and holiday pay

b. Pension pay

c. Overtime premium

d. Regular wage

16. If the job is taken as a rush order with the knowledge that overtime will be necessary, the overtime premium should be charged to:

a. General expense

b. Factory overhead

c. Specific job

d. Selling expense

17. If the overtime premium is charge to specific job, it should be debited to:

a. Work in process account

b. General expense account

c. Manufacturing overhead account

d. Selling expense account

Definition Definition Benefits in addition to compensation that companies give to their employees. Fringe benefits can boost morale and productivity and keep employees motivated. Companies often use fringe benefits as a competitive advantage to recruit and retain employees. Examples of fringe benefits include pensions, vacation time, tuition reimbursement, free or subsidized meals, and gym memberships.

Expert Solution