Home / Questions / Conversion costs consist of: A) direct labor and manufacturing overhead. B) direct mater
Conversion costs consist of:
A) direct labor and manufacturing overhead.
B) direct materials and direct labor.
C) direct materials and manufacturing overhead.
D) direct materials, direct labor and manufacturing overhead.
12) Which of the following is an example of direct labor?
A) Salary of a production manager
B) Salary of the vice-president of operations
C) Wages of assembly line personnel
D) Wages of factory security
13) Which statement describes direct materials in a manufacturing setting?
A) Direct materials are used to determine total inventoriable product costs.
B) Direct materials are used to determine total manufacturing overhead.
C) Direct materials cannot be separately and conveniently traced.
D) Direct materials do not become part of the finished product.
14) In a manufacturing plant, which is an example of indirect labor?
A) Chief operating officer
B) Machine operators
C) Plant managers
D) Salesmen
15) Which of the following are classified as manufacturing overhead?
A) Direct materials and direct labor
B) Indirect labor and indirect materials
C) All materials
D) Factory rent and direct labor
16) Which of the following is an example of overhead in a factory?
A) Wages of machine operators
B) Wages of factory maintenance personnel
C) Wages of administrators in the corporate office
D) Salaries of salespersons
17) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:
|
Depreciation on sales office |
$11,000 |
|
Depreciation on factory equipment |
$16,000 |
|
Factory supervisor salary |
$52,500 |
|
Sales commissions |
$23,000 |
|
Lubricants used in factory equipment |
$3,000 |
|
Insurance costs for factory |
$21,000 |
|
Wages paid to maintenance workers |
$115,000 |
|
Fabric used to upholster furniture |
$7,000 |
|
Freight-in (on raw materials) |
$2,500 |
|
Costs of delivery to customers |
$9,000 |
|
Wages paid to assembly-line workers |
$132,500 |
|
Lumber used to build product |
$72,000 |
|
Utilities in factory |
$44,500 |
|
Utilities in sales office |
$26,500 |
Prime costs for Comfy Furniture Company totaled:
A) $79,000.
B) $214,000.
C) $211,500.
D) $332,000.
18) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:
|
Depreciation on sales office |
$11,000 |
|
Depreciation on factory equipment |
$16,000 |
|
Factory supervisor salary |
$52,500 |
|
Sales commissions |
$23,000 |
|
Lubricants used in factory equipment |
$3,000 |
|
Insurance costs for factory |
$21,000 |
|
Wages paid to maintenance workers |
$115,000 |
|
Fabric used to upholster furniture |
$7,000 |
|
Freight-in (on raw materials) |
$2,500 |
|
Costs of delivery to customers |
$9,000 |
|
Wages paid to assembly-line workers |
$132,500 |
|
Lumber used to build product |
$72,000 |
|
Utilities in factory |
$44,500 |
|
Utilities in sales office |
$26,500 |
Conversion costs for Comfy Furniture Company totaled:
A) $319,500.
B) $460,500.
C) $214,000.
D) $384,500.
19) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:
|
Depreciation on sales office |
$11,000 |
|
Depreciation on factory equipment |
$16,000 |
|
Factory supervisor salary |
$52,500 |
|
Sales commissions |
$23,000 |
|
Lubricants used in factory equipment |
$3,000 |
|
Insurance costs for factory |
$21,000 |
|
Wages paid to maintenance workers |
$115,000 |
|
Fabric used to upholster furniture |
$7,000 |
|
Freight-in (on raw materials) |
$2,500 |
|
Costs of delivery to customers |
$9,000 |
|
Wages paid to assembly-line workers |
$132,500 |
|
Lumber used to build product |
$72,000 |
|
Utilities in factory |
$44,500 |
|
Utilities in sales office |
$26,500 |
Direct material costs for Comfy Furniture Company totaled:
A) $81,500.
B) $79,000.
C) $7,000.
D) $72,000.
20) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:
|
Depreciation on sales office |
$11,000 |
|
Depreciation on factory equipment |
$16,000 |
|
Factory supervisor salary |
$52,500 |
|
Sales commissions |
$23,000 |
|
Lubricants used in factory equipment |
$3,000 |
|
Insurance costs for factory |
$21,000 |
|
Wages paid to maintenance workers |
$115,000 |
|
Fabric used to upholster furniture |
$7,000 |
|
Freight-in (on raw materials) |
$2,500 |
|
Costs of delivery to customers |
$9,000 |
|
Wages paid to assembly-line workers |
$132,500 |
|
Lumber used to build product |
$72,000 |
|
Utilities in factory |
$44,500 |
|
Utilities in sales office |
$26,500 |
Direct labor costs for Comfy Furniture Company totaled:
A) $300,000.
B) $132,500.
C) $115,000.
D) $323,000.
Dec 06 2019 View more View Less
Why do all societies face the problem of scarcity?
Apr 13 2021RFC Corp. has announced a $1.32 dividend. If RFC’s price last price cum-dividend is $13.21, what should its first ex-dividend price be (assuming perfect capital markets)?
Jun 09 2021TAL Distributors wants the database to include data on all its employees, not just sales reps. What additional entities would the DBA need to include in the database to s...
Aug 01 2020On November 15, you sold ten futures contracts for 100,000 cad each at a rate of usd/cad 0.75. The subsequent settlement prices are shown in the table below. (a) What are...
Mar 31 2020Tattletale News Corp. has been growing at a rate of 20% per year, and you expect this growth rate in earnings and dividends to continue for another 3 years.a.If the last ...
Aug 10 2021The gathering, analyzing, and structuring of information about a job’s components, characteristics, and requirements is a process called:a. task analysis b. job ana...
Jan 24 2020Thirty-six of the staff of 80 teachers at a local intermediate school are certified in Cardio-Pulmonary Resuscitation (CPR). In 180 days of school, about how many days ca...
Apr 16 2020A gas at 5.00 atm pressure was stored in a tank during the winter at 5.0 °C. During the summer, the temperature in the storage area reached 40.0 °C. What was the pressure...
Aug 20 2021Consider the following utility function: U(x,y) = x3y45DWikafTCt+dt1ffO8qzo8bCnCeUQlXRSPrZaZvM 1. Given the above utility function, what is the MRS? Is the MRS increasing...
Jun 01 2020Shao Electronics has net assets of $550 million and stockholder s equity of $330 million. It has total debt of $225 million. ROA is 11.3 percent. What is the ROE for this...
May 23 2020