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Vinil7 [7]
3 years ago
6

Determine whether each of the following cost should be classified as direct materials (DM), direct labor (DL), or manufacturing

overhead (MO).
(a) ____ Frames and tires used in manufacturing bicycles.

(b) ____Wages paid to production workers.

(c) ____ Insurance on Factory equipment and machinery

(d) ____ Depreciation on factory equipment
Business
1 answer:
Nana76 [90]3 years ago
4 0

Answer:

(a) DM

(b) DL

(c) MO

(d) MO

Explanation:

(a)  Frames and tires used in manufacturing bicycles.

This is cost directly related to the materials used in manufacturing a product and, thus, should be classified as a direct material cost (DM).

(b) Wages paid to production workers.

This cost is directly related to pay for the labor required to manufacture a product and, thus, should be classified as a direct labor cost (DL).

(c) Insurance on Factory equipment and machinery.

Although this is a cost incurred from manufacturing, it can't be directly linked to either materials or labor since it is an structural cost and, therefore, should be classified as a manufacturing overhead cost (MO).

(d) Depreciation on factory equipment

For the same reason as the previous item, this should be classified as a manufacturing overhead cost (MO).

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Jumpin Corporation uses the percentminusofminussales method to estimate uncollectibles. Net credit sales for the current year am
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Answer:

The amount of Uncollectible Account Expense reported on the income statement will​ be: $ 64,800

Explanation:

Jumpin Corporation

Percent of Sales method

Net credit sales  $ 2 100  000​,

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Un collectibles Accounts = 3% of  $ 2 100,000​, = $ 63,000

Unadjusted Allowance for Un collectible Accounts  $ 1, 800 Dr.

Required Adjustment =                                 $ 64,800

The amount of Un collectible Account Expense reported on the income statement will​ be: $ 64,800

In the percent of sales method emphasis is laid on the matching principle in the income statement and amount of bad debts expense is subtracted from the accounts receivables.

5 0
3 years ago
Selma deposited a paycheck for $378.42. she’ll use the check register to record her transaction. What will be her new balance?
stepladder [879]

Selma’s new balance will be $378.42. A paycheck also known as a pay check or pay cheque, is a paper document issued by an employer to pay an employee for services rendered. However, the physical paycheck is increasingly being replaced by electronic direct deposits to the employee's designated bank account or loaded onto a payroll card.

Employees may still receive a pay slip detailing the final payment amount calculations. A salary statement, also known as a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes or is attached to the paycheck.

Each country has laws governing what information must be included on a payslip .

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5 0
2 years ago
The gross increases in retained earnings attributable to business activities are called
insens350 [35]
They are called revenues.
3 0
3 years ago
He formal decision-making process used when considering the economic feasibility of implementing information security controls a
mrs_skeptik [129]

He formal decision-making process used when considering the economic feasibility of implementing information security controls and safeguards is called a CBA

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The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action.

It has the following benefits -

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6 0
2 years ago
Match each type of market with the items bought and sold there
wolverine [178]

Answer

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B.Commodity Market-Raw, unprocessed goods

C.Stock Market -Shares in corporations

Explanation

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Commodity Market- This is a type of market where unprocessed materials are sold. Many producers buy the raw materials from these market for further processing.

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7 0
3 years ago
Read 2 more answers
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