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1 year ago

All of a company's depreciation, property taxes, and insurance premiums are considered manufacturing overhead.

1 answer:

7 0

All of a company's depreciation, property taxes and insurance premiums are considered manufacturing overhead (MOH) ----- False.

What is considered manufacturing overhead?

Manufacturing overhead (MOH) cost is the sum of all the indirect costs which are incurred while manufacturing a product. It is added to the cost of the final product along with the direct material and direct labor costs.

What does manufacturing overhead include?

Manufacturing overhead includes indirect materials, indirect labor, depreciation on factory buildings and machines, and insurance, taxes, and maintenance on factory facilities. Costs that are a necessary and integral part of producing the finished product.

. Direct labor :

Is the cost of the workers who make the product. The cost of supervisory personnel, management, and factory maintenance workers, although they are needed to operate the factory, are classified as indirect labor because these workers do not use the direct materials to build the product.

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2. Statistically, consumers tell more people about negative experiences in business encounters than about positive experiences.

sergey [27]

I believe the answer Is b, false. Bad experiences leave a bigger impression than good experiences. Kind of like how you can remember more hurtful things people have said to you than nice things

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3 years ago

The matching concept a. determines that expenses related to revenue be reported at the same time the revenue is reported b. addr

OLga [1]

Answer:

The correct answer is letter "A": determines that expenses related to revenue be reported at the same time the revenue is reported.

Explanation:

According to the matching accounting principle, during the same accounting period, the revenues and expenditures needed to generate such revenues have to be recorded. This is part of the accrual accounting method that specifies expenses and revenue must be recorded when incurred not when cash is received.

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3 years ago

The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the followin

maria [59]

Answer:

a. Merchandise lost by fire value = $20,760

b. Merchandise lost by fire value = $25,770

Explanation:

Net sales = $51,000 - $1,100

= $49,900

Net purchase cost = $31,000 + 1,200 - $1,500

= $30,700

a. Gross profit = $49,900 × 40%

= $19,960

Cost of goods sold = $49,900 - $19,960

= $29,940

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $29,940 = $20,000 + $30,700 - ending inventory

Ending inventory = $20,760

Merchandise lost by fire value = $20,760

b. Gross profit = $49,900 × 30%

= $14,970

Cost of goods sold = $49,900 - $14,970

= $34,930

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $34,930 = $30,000 + $30,700 - ending inventory

ending inventory = $25,770

Merchandise lost by fire value = $25,770

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3 years ago

"the ___________ is the highest-ranking is manager, responsible for all ______ planning in the organization"

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1.) CIO
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3 years ago

If the government removes a binding price ceiling from a market, then the price received by sellers will a. decrease, and the qu

d1i1m1o1n [39]

Answer:

The correct answer is option d.

Explanation:

A price ceiling is binding when it is fixed below the equilibrium price. In this case, the quantity demanded is greater than quantity supplied. This creates a shortage in the market.

If the government removes a binding price ceiling from a market, then the price will increase. At a higher price, the producers will supply more, while the quantity demanded will decrease. The overall quantity sold in the market will increase.

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3 years ago