Which of the following is false with regard to direct materials for a bakery?a. Flour and sugar would probably be direct materials.b. Oil to lubricate factory machines would be an indirect material.c. Paper cupcake liners, that become part of the product, must be accounted for as direct materials.Od. Eggs would probably be a direct material.

Paper cupckake liners are used after the cake is prepared. It does not form part of the cake. Direct…

Answered: Which of the following is false with…

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter15: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 1CMA: Which of the following items would not be considered a manufacturing cost? a. Cream for an ice cream...

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Insurance expense incurred on a factory building would be treated as a a. selling cost b. period cost c. direct cost d. product cost Which of the following is not a commonly used approach to setting transfer prices? a. cost price approach b. market price approach c. negotiated price approach d. revenue price approach Which of the following is not true in regard to direct materials for a bakery? a. Eggs would probably be a direct material. b. Paper cupcake liners, that become part of the product, must be accounted for as direct materials. c. Flour and sugar would probably be direct materials. d. Oil to lubricate factory machines would not be a direct material. Planning for capital expenditures is necessary for all of the following reasons except a. fixed assets may fall below minimum standards of efficiency b. amounts spent for office equipment may be immaterial c. expansion may be necessary to meet increased demand d. machinery and other fixed assets wear out
An assembly-line used in manufacturing of a car is an example of: Select one: O a. Selling Costs O b. Direct Materials O c. Manufacturing Overhead O d. Direct Labor O e. None of the answers are correct
Which of the following manufacturers would most likely not use a process-cost accounting system? A. A producer of computer monitors. B. A paint manufacturer. C. A producer of frozen orange juice. D. A builder of customized yachts. E. A lumber mill.
3. Which of the following cost would be considered as production overhead cost in a production of cakes? Sugar Flour Baker Electricity
Which of the following statements is true of raw materials? ) a) They are categorized as consumer products. b) They are the goods and services that hold little interest for consumers. (c) Thev include products used in producing other products. © d) Thev are large capital purchases designed for a long productive life.
The cost of minor materials, such as nuts, glue, tape, low value chemicals, etc. used in the manufacturing process, are treated as: A. Direct materials, because these can be traced easily to specific products B. Indirect materials, because these cannot be directly traced to any specific products C. Direct materials, because it is traditionally accepted costing practice D. Indirect materials, because it may not be worth the time it would take to charge to the specific product direct
If Power Products uses process costing, which of the follow-ing are likely to be true: a. The production processes are high volume.b. The products use different amounts of direct labor.c. The products are created with repetitive processes.d. The products are created to customer specifications.
1. Explain the role of activity drivers in assigning costs to products. 2. Why are the accounting requirements for job order costing more demanding than those of process costing? 3. Folio Glass produces custom glass platters. For one job, the trainee assigned to cut the glass set the template incorrectly into the computer. This template was unusable and had to be discarded; another template was cut to the correct dimensions. How is the cost of the spoiled template handled?
Labor expended in converting raw material into finished goods is called indirect labor. Select one: True False
Finance Which of the following is an example of indirect material costs of a bakery? Select one: Salary of the marketing manager Cost on light bulbs Cost of butter Depreciation of the bakery equipment Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Do not provide Excel Screet shot rather use tool table Answer completely.
Which of the following items would not be considered a manufacturing cost? a. Cream for an ice cream maker. b. Sales commissions for a car manufacturer. c. Plant property taxes for an ice cream maker. d. Tires for an automobile manufacturer.
since glue is not generally the main final product, it becomes an indirect material. Indirect materials and indirect labor are both considered to be a part of manufacturing overhead. What else is considered manufacturing overhead?

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