Question 62 pts1. Factory supervision, factory machine depreciation, power, and light are all exampleof indirect manufacturing overhead costs.O TrueFalseQuestion 72 pts

Indirect manufacturing overhead cost:- production costs which are not directly associated with a…

Answered: Question 6 2 pts 1. Factory…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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• A factory building needs to hire janitorial services. This is classified as indirect labor 2. Period costs are all costs that are not product costs, such as office supplies a. BOTH statements are TRUE b. BOTH statements are FALSE c. 1st statement FALSE d. 1st statement TRUE
Question 21?
8. I Process Costing is used to calculate a products manufacturing cost in: B. product. DA most industries. industries that have a continuous production process of the same the construction industry. a industry that can uniquely identify the product. I □
acc3
Question 2 of 5 Costing system, which classifies cost into cost categories based on when an expense is incurred in process is called Process costing system Both Neither Job order costing system
A3
AIP 9.2 Job-Order and Process Costing LO 1 A management accounting professor was trying to explain the difference between job- order costing and process costing to her class. She pointed out that a job-order costing system is generally used when distinct batches or 'jobs' can be identified. Alternatively, process costing is used for the continual processing of homogenous products. A student 445 suggested another difference between job-order and process costing. He noted that on the one hand, job-order costs are determined at the time the job is being performed by using pre-determined overhead rates. On the other hand, process costs are normally determined at the end of the period based on the number of equivalent units produced and actual overhead costs. What does the timing difference between job-order costing and process costing say about how job-order costs and process costs are used for planning purposes?
Question 9 Which of the following is NOT normally associated with activity-based costing? A Improved decision-making and pricing B Multiple cost drivers C Reduction of non-value-adding costs D Activity cost pools E I do not wish to answer this question. F High direct labour costs relative to manufacturing overhead costs
Multiple choice
Plz answer sub parts and with explanation please no plagiarism
Ma1. Please give only typed answer.
QUESTION 23 Expenses can be categorized by whether the cost incurred is directly related to production or not. If directly related, it will not change with the production level, thus called Fixed Cost. If directly related, it will change with the production level, thus called Fixed Cost. If not directly related, it will not change with the production level, thus called Variable Cost. If not directly related, it will change with the production level, thus called Variable Cost. None of the above is a correct statement.

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Question 6 2 pts 1. Factory supervision, factory machine depreciation, power, and light are all example of indirect manufacturing overhead costs. True O False Question 7 2 pts