0
What else can I help you with?
What is the average direct labor cost in manufacturing?
Average direct labor cost is the opening direct labor cost + closing direct labor cost / 2
Does prime cost plus conversion cost equal the cost of manufacturing?
Total Manufacturing Cost = Direct Material + Direct Labor + Factory Overheads Prime Cost = Direct material + Direct Labor Conversion Cost = Direct Labor + Factory Overhead So yes prime cost and conversion cost is equal to total manufacturing cost
Is Direct material cost combined with manufacturing overhead cost is known as conversion cost?
false, direct labor and manufacturing overhead = conversion cost
Direct and indirect labor costs?
Direct labor cost is that labor which directly related with manufacturing of products like machine workers etc while indirect labor cost is that labor cost which directly not manufacturing product but required as well like line mangers or factory supervisors salary etc.
Variable manufacturing overhead cost per direct labor hour?
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
Manufacturing overhead combined with direct labor forms prime costs?
Formula for prime cost = direct material + direct laborFormula for conversion cost = direct labor + manufacturing overheads
Is a manufacturing plant managers salary a direct labor cost?
Manufacturing plant manager is not directly related to manufacture of unit of product that's why it is not direct labor cost instead of that it is indirect cost and goes to overhead account
What are the three cost categories on a job cost sheet?
direct material cost , direct labor cost , manufacturing cost
Is indirect labor a part of prime cost?
Direct material and direct labor are the parts of prime cost while indirect labor is part of manufacturing overhead and manufacturing overhead is a part of conversion cost that's why indirect labor is not part of prime cost because it is that type of labor which is not directly identifiable with units production that;s why cannot charge directly to production units.
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.
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.
What costs are direct labor costs?
Salaries and wages of workers directly involve in goods manufacturing is direct labor cost.
