Manufacturing cost is variable cost.
Compute the actual and budgeted manufacturing overhead rate
yes A cost that attaches to the physical units is termed a product cost. Product costs would include direct materials, direct manufacturing labor, and manufacturing overhead. Conversion cost is the cost involved in converting the direct materials into a finished product. It is composed of direct manufacturing labor and manufacturing overhead. Any cost that does not attach to the physical units would be termed a period cost and would be expensed as incurred. Therefore, a cost is either a period or a product cost. Electricity cost, whether variable or fixed, would be included in manufacturing overhead and classified as conversion costs, and therefore cannot be classified as a period cost.
No. Cost would include the cost of materials. Overhead would not.
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.
Is fire a selling cost, direct manufacturing cost, indirect manufacturing cost, administrative cost, foxed cost or variable cost.
Compute the actual and budgeted manufacturing overhead rate
Variable manufacturing overhead cost per direct labor hour means the variable overhead cost spent for one single labor hour and formula is as follows:Variable overhead cost per labor hour = total variable overhead cost / Total direct labor hours
Following is the formula for total costtotal cost = fixed overheads + variable overheads + direct labor + direct material
yes A cost that attaches to the physical units is termed a product cost. Product costs would include direct materials, direct manufacturing labor, and manufacturing overhead. Conversion cost is the cost involved in converting the direct materials into a finished product. It is composed of direct manufacturing labor and manufacturing overhead. Any cost that does not attach to the physical units would be termed a period cost and would be expensed as incurred. Therefore, a cost is either a period or a product cost. Electricity cost, whether variable or fixed, would be included in manufacturing overhead and classified as conversion costs, and therefore cannot be classified as a period cost.
No. Cost would include the cost of materials. Overhead would not.
Total Manufacturing Cost
B. Direct materials, direct labor, and variable manufacturing overhead.
No -- commission is Sales overhead cost.
false, direct labor and manufacturing overhead = conversion cost
Salary of factory manager is Manufacturing overhead. and Manufacturing overhead is Product costs. So, It's not period cost.
A cost that is not fixed.
Variable overhead cost variance is that variance which is in variable overheads costs between the standard cost and the actual variable cost WHILE fixed overheads cost variance is variance between standard fixed overhead cost and actual fixed overhead cost.