Remaining Time: 1 hour, 50 minutes, 40 seconds Path p Question Completion Status
ID: 2391088 • Letter: R
Question
Remaining Time: 1 hour, 50 minutes, 40 seconds Path p Question Completion Status: QUESTION 3 A iIn managerial accounting, what are the THREE costs of manufacturing? Define EACH cost B) Presented below is a list of costs and expenses incurmed in the factory by RoyyStanley Corporation, a manufacturer of painted-wood patio funiture 1. Depreciation on factory machines 2 Factory iiies 3 Wood 4 Propesty taxes on the factory bulding 5 Insurance on factory equipment 6 Property taxes on the factory land 7 Screws, nails, and glue 8 Painter's wages 9 Factory supervisors' salalies 0 Metal used in manufacturing In the answer space, number from 1 to 10 Beside each number comesponding to the terms above, classify that item into the following categories DMDeect Materials DL. -Direct Labor MO - Manufacturing Overhead Manufacturing costs for Mabel Carson Entorprises for selected months are as tollows Cliek Save and Subeair to save and submit. Chicl Save A Ansvers to save all anncersExplanation / Answer
A) Direct Materials : Materials which are used in the production and which can be directly traced to Finished products
B) Direct Labor : Cost of Physical labor involved in transformation of raw material to Finished product.
C) Manufacturing Overhead : Costs which are incurred during production but cannot be traced to products.
B)
1. Depreciation on Factory machines - Manufacturing Overhead
2. Factory Utilities - Manufacturing Overhead
3. Wood - Direct materials
4. Property taxes on the factory building - Manufacturing Overhead
5. Insurance on Factory equipment - Manufacturing Overhead
6. Property taxes on the factory land - Manufacturing Overhead
7. Screws, nails and glued - Manufacturing Overhead
8. Painter's wages - Direct Labor
9. Factory Supervisor salary - Manufacturing Overhead
10. Metal used in manufacturing - Direct Materials