<span>The term manufacturing overhead represents all factory-related costs that are incurred when a product is manufactured. </span>When a job order costing system is used, actual manufacturing overhead costs are debited to <span>the Manufacturing Overhead account. It includes both direct materials and direct labor.
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Answer: When computing the cost per equivalent unit, the weighted-average method of process costing considers: C) costs incurred during the current period plus cost of beginning work in process inventory.
Explanation: This is because the weighted-average method takes into account the costs of the previous period and the costs of the current period.
Answer:
The answer is: It will move resources from belt production to shoe production, thereby decreasing the supply of belts.
Explanation:
The Law of Supply states that as the price of a product increases, suppliers are willing to offer a larger quantity of that product. But if the price of a product decreases, suppliers will be willing to offer smaller quantities of that product.
In this case, the leather company will want to offer a larger quantity of shoes since the price of shoes is likely to increase. Since all companies only have a certain total amount of resources, in order to be able to produce more shoes they might have to decrease the quantity supplied of belts.
