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yes factory overhead is part of income statement and shown in cost of goods sold statement as a product cost.
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Factory overhead should be allocated on the basis of?
factory overhead should be allocated on basis of their apportiomen
What is factory Overhead applied?
what isfactory overhead applied
What is definition of cost of goods manufactured?
The cost of goods manufactured is an element in preparing the income statement. It consists of the cost of producing goods: http://www.answers.com/topic/direct-material, http://www.answers.com/topic/direct-labor and http://www.answers.com/topic/factory-overhead
If actual overhead for the year is 33451 and applied overhead is 32000 is the overhead variance over applied or under applied assuming the amount is immaterial how would you dispose of the variance?
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
The difference between variable factory overhead incurred and total standard variable factory overhead based on the actual quantity of the cost driver for applying the overhead is the?
cheatFAIL
When the variable costing method is used how does fixed factory overhead appear on the income statement?
fixed expense
What does inventory valuation show up as on an income statement?
prime cost plus variable overhead
Does an increase in overhead rate have a negative financial impact?
Increase in overhead rate would have negative financial impact since its one of the cost under the income statement. Increased in overhead rate would lead to increase in costs, which eventually would lead to lower income. Sales - Direct material - Direct labor - Overhead = Profit
Factory overhead should be allocated on the basis of?
factory overhead should be allocated on basis of their apportiomen
What is factory Overhead applied?
what isfactory overhead applied
What is Applied manufacturing overhead?
what is factory overhead applied?
What is definition of cost of goods manufactured?
The cost of goods manufactured is an element in preparing the income statement. It consists of the cost of producing goods: http://www.answers.com/topic/direct-material, http://www.answers.com/topic/direct-labor and http://www.answers.com/topic/factory-overhead
If actual overhead for the year is 33451 and applied overhead is 32000 is the overhead variance over applied or under applied assuming the amount is immaterial how would you dispose of the variance?
Difference between actual overhead and applied overhead is as follows: Difference = 33451 - 32000 = 1450 Difference of variance will be charged to income statement.
Is salary of factory manager a period cost?
Salary of factory manager is Manufacturing overhead. and Manufacturing overhead is Product costs. So, It's not period cost.
The difference between variable factory overhead incurred and total standard variable factory overhead based on the actual quantity of the cost driver for applying the overhead is the?
cheatFAIL
Why factory overhead cost is applied on production?
Factory overheads are incurred only and only due to production of the goods. That is why the factory overhead cost is applied to production.
How do you do Income statement?
Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.
