Elements of manufacturing cost

Assignment Help Managerial Accounting
Reference no: EM1349501

Group the costs of manufacturing candles. Indicate whether each of the following items should be classified as direct materials (DM), direct labor (DL), overhead (O), or none of these (N). Also indicate whether each is a prime cost (PC), a conversation cost (CC), or neither (N).

1. Depreciation of the cost of vats to hold melted wax

2. Cost of wax

3. Rent on the factory where candles are made

4. Cost of George's time to dip the wicks into the wax

5. Cost of coloring for candles

6. Cost of Ray's time to design candles for Halloween

7. Sam's commission to sell candles to Candles Plus

Reference no: EM1349501

Questions Cloud

Question on mixed costs : Wysocki Company pays its sales force a fixed salary plus a 5% commission on all sales. Explain why sales force costs would be considered a mixed cost.
Explain as they inconsistent with each other : In a market economy, every resource will tend to be paid according to its marginal product. Highly productive resources will command high prices, whereas less productive resources will command lower prices.
Limited scope as opposed to one of major scope : Organizational Change - How would the scope of change?
Calculate the heat flow through a 0.750m long copper bar : How many kilograms of water at 100.0 C could be converted to steam by the addition of 1.13 x 10^7 joules of thermal energy.
Elements of manufacturing cost : Group the costs of manufacturing candles. Indicate whether each of the following items should be classified as direct materials (DM), direct labor (DL), overhead (O), or none of these (N). Also indicate whether each is a prime cost (PC), a convers..
Multiple choice question on basic finance : Norville Creations wants to get an after-tax profit of $45,000 for the year ended December 31, Year 1. The corporation sells its product for $35 per unit and has a contribution margin ratio of 15 percent.
Business environment impacted development telecommunication : Describe in scholarly detail how business environment has influenced development of telecommunications technology.
Testing prior to the hiring method : Recent hiring trends in business include giving personality and interest tests prior to hiring. The stated purpose of administering these tests is to eliminate subjectivity from the hiring process and place all candidates on equal footing.
Determining product cost system : Assuming I own a wedding invitation printing company. I would need information to budget next years activities. Which costs are likely to be available in the company's product costing system?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Sharing of non-private demographic information

Your supervisor recently instituted a plan that encourages her managers to share non-private demographic characteristics voluntarily provided by those who purchase your firm's final product.

  Cost tracing-allocation-drivers and related issues

Describe the importance of cost tracing? Cost Allocation? How do they differ and how are them similar? Describe a cost driver? Select a day to day event that you may use these tools to properly budget yourself, and to see where you might be oversp..

  Cash conversion cycle

A firm currently has a 36 day cash cycle. Assume that the firm changes its operations such that it decreases its receivables period by 4 days, increases its inventory period by 1 day and decreases its payable period by 2 days.

  Jung corporation direct materials budget-third quarter

The Jung Corporation's budget calls for following production:Quarter 1 45,000 units Quarter 2 38,000 units Quarter 3 34,000 units Quarter 4 48,000 units. Each unit of production needs three pounds of direct material.

  Planning strategies for the audit

Planning strategies for the audit

  Process costing-solution set

The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:

  Information about budget

Discuss how a budget could help you personally or your organization accomplish the objectives of long range plan developed for you personally or for your organization.

  Determining amount received on bond issue

Clancy Inc. issues $2,000,000 of 7% bonds due in 10 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 8%.

  Important information on managerial accounting

The allowance for uncollectible accounts currently has a credit balance of $900. After analyzing the accounts in the accounts receivable subsidiary ledger, the company's management estimates that uncollectible accounts will be $15,000.

  Computing advantage to making or buying

Curtis Corporation is beginning to manufacture Mighty Mint, a new mouthwash in a small spray container. The product will be sold to wholesalers and large drugstore chains in packages of 30 containers for $19 per package.

  Marginal analysis for optimal decisions

Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing air problem in its mines.

  Examine organization-environment-managerial

Using your current work organization (or an organization of interest) as the subject matter, research the elements of business and prepare an APA formatted paper that:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd