Answer: Whether a particular cost is classified as direct or indirect does not depend on the cost object - <u>FALSE. BECAUSE "A particular cost may be direct or indirect, depending on the cost object".</u>
A direct cost is one that can be easily traced to the particular cost object -<u>TRUE.</u>
The factory manager’s salary would be classified as an indirect cost of producing one unit of product.<u> - TRUE.</u>
A particular cost may be direct or indirect, depending on the cost object. <u>- TRUE.</u>
Answer:
(B) 299,574
Explanation:
We have to calculate the present value of an annuity-due of 25,000
That's because it is being paid in advance.
299574.17
<em>Remember</em>: when the payment or receipts are made in advance, AKA at the beginning of the period, multiply the annuity formula for (1+rate)
That's because <u>the annuities are held for 1 more period </u>than usually.
Answer:
Estimated manufacturing overhead rate= $42 per direct labor hour.
Explanation:
Giving the following information:
Calculate the predetermined overhead rate for 2020, assuming Lott Company estimates total manufacturing overhead costs of $ 882,000, direct labor costs of $735,000, and direct labor hours of 21,000 for the year.
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 882,000/21,000= $42 per direct labor hour.
Professor Simmons will be discussing Convergence Theory. It states that all industrial systems, whether capitalist or communist, would converge in their social, political and economic systems because of the determinant effects of technological development.
