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Manufacturing overhead combined with direct labor forms prime costs?
Formula for prime cost = direct material + direct laborFormula for conversion cost = direct labor + manufacturing overheads
Two principals that are the basis of modern manufacturing are the use of interchangeable parts of?
Division of labor A+
What is One potential cause of Total Manufacturing Overhead Variance?
If the estimated materials, labor or overhead costs allocated for a manufacturing order is different from the actual cost of the MO then the potential result is a Manufacturing Overhead Variance.
What are the types of manufacturing?
There are many types like Custom manufacturing and intermittent manufacturing The types of manufacturing important to Canada's economy include automobile manufacturing, oil refining, paper and pulp industries, beer brewing, and high-tech industries. Other important activities include meat processing and iron and steel manufacturing. Manufacturing involves the transformation of a natural resource into a more useful or useable form. Canada has a long history of manufacturing and is a world leader in these activities. It is also a modern economy and its high-tech industries supply products to the space industry. About 16% of the labor force has jobs in manufacturing and manufacturing accounts for about 20% of the output of the country.
To cut costs and increase output a new process was established. What was this process in manufacturing called?
To cut costs and increase output a new manufacturing process called automation was created. With automation came lower labor cost, increased productivity, and improved quality.
Is depreciation on manufacturing equipment a variable cost?
Depreciation of manufacturing equipment is fixed cost because that cost will incurred no matter how much units produced.
Is depreciation direct cost?
Only depreciation for all those fixed assets which directly involve in manufacturing of production volume is part of direct cost while all other depreciation is not part of direct cost and included in indirect cost classification.
What are the arguments in favor of treating fixed manufacturing overhead cost as period costs?
Fixed manufacturing cost is treated as period cost because it has to be incurred no matter there is any production or not like machinery depreciation or building depreciation etc these kinds of costs cannot be eleminate in short run.
Definition of full costing method?
a.k.a. Absorption Costing, is a method that includes direct manufacturing costs as well as indirect manufacturing costs such as machine depreciation and factory. (GAAP Required)
Manufacturing overhead is 20 direct labor is 45000 and direct materials are 53000 what is the manufacturing overhead?
20
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.
What is the average direct labor cost in manufacturing?
Average direct labor cost is the opening direct labor cost + closing direct labor cost / 2
What is the labor cost of car manufacturing?
as much as the union wants it to be
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 depreciation on plant and machinery part of conversion cost?
yes. The plant is used in the manufacturing process and tehrefor it is a direcct cost d
Why did cheaper overseas labor have little impact on the sanitary paper products industry?
The capital-intensive nature of paper manufacturing means that cheaper overseas labor has less of an impact on manufacturing costs than in other, more labor-intensive industries.
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
