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How do banks make money orders?
Banks make money orders by charging a fee to customers who want to purchase them. This fee covers the cost of processing the money order and provides a profit for the bank.
Is the cost of direct materials classified as a conversion cost?
No, Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
Is Direct material cost combined with manufacturing overhead cost is known as conversion cost?
false, direct labor and manufacturing overhead = conversion cost
Example of imputed cost?
Charging the cost of using fully depreciated machinery to the cost unit
What is conversion cost in cost sheet?
conversion cost = direct wages + factory overheads (indirect material + indirect wages)
What is the one cost that would be classified as part of both prime cost and conversion cost?
The one cost that would be classified as part of both prime cost and conversion cost would be:
The one cost that would be classified as part of both prime cost and conversion cost would be?
The one cost that would be classified as part of both prime cost and conversion cost
Consumers use cost benefit in order to maximize what?
Consumers use cost-benefit analysis in order to maximize utility.
What are the two categories of cost comprising conversion cost?
The two categories of cost comprising conversion costs are direct labor and factory overhead
How prime cost is different from conversion cost and Manufacturing Costs?
Prime cost basically is the cost of direct labor and cost of direct material; whereas conversion costs is Overhead cost and direct labor cost.
Consumers use cost-benefit analysis in order to maximize what?
Consumers use cost-benefit analysis in order to maximize utility.
Consumers used cost- benefit analysis in order to maximize what?
Consumers use cost-benefit analysis in order to maximize utility.
