a. Explain the difference between direct costs and overheads. b. Describe the different types of direct cost

Question:

a. Explain the difference between direct costs and overheads.
b. Describe the different types of direct cost and overhead found in a manufacturing business?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Introduction To Financial Accounting

ISBN: 978-0077138448

7th edition

Authors: Anne Marie Ward, Andrew Thomas

See More Books

Question Posted: Dec 20, 2016 10:25 AM

See More Questions

What is the difference between direct costs and indirect costs? Give an example of each.
Explain the difference between direct materials purchases in a month and direct materials for the month.
Explain the difference between direct and indirect materials and give examples of each for a manufacturing company such as Levi Strauss.
The following data show the curb weight, horsepower, and -mile speed for 16 popular sports and GT cars. Suppose that the price of each sports and GT car is also available. The complete data set is as...
Order Up, Inc., provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a...
Tonyas Tanning Salon bought three tanning beds in a $ 10,000 lump-sum purchase. An independent appraiser valued the tanning beds as follows: Tanning Bed Appraised Value 1$ 3,000 2 5,000 3. 4,000...
Apply the marketing-myopia concept to print media, magazines, and newspapers. What is the implication?
1. Sheldon Cooper and Amy Farrah live in Pasadena, California; have as a new investment goal to create a college fund for their newborn daughter. They estimate that they will need $200,000 in 18...
The 2020 season was expected to be a year of partying at Cedar Fair. Its namesake theme parkCedar Pointreached its 150 th year, and its Knotts Berry Farm was prepared to celebrate its 100 th...
A certain amount of mercury is compressed from an initial pressure of 500 MPa to a certain amount of final pressure. The final pressure of mercury required, to reduce a unit volume of mercury by 10%...
After stocktaking for the year ended 31 May 20X2 had taken place, the closing inventory of Cobden Ltd was aggregated to a figure of 87,612. During the course of the audit that followed, the...
Zacotex Ltd, a manufacturer, produced the following financial information for the year ended 31 March 20X3. ................................................................................. Row...
Estimate the As I bond length from the data in Figure 7.6, and compare your value to the experimental As I bond length in arsenic triiodide, AsI 3 , 2.55 . 1A H 2A 7A 8A 3A AA 5A 6A 0.37 0.32...
Which of the following is used to alert the user of a forecasting model that a significant error occurred in one of the periods? a. a seasonal index b. a smoothing constant c. a tracking signal d. a...
The percentage of the variation in the dependent variable that is explained by a regression equation is measured by a. the coefficient of correlation. b. the MSE. c. the coefficient of determination....
How do we use qualitative variables in predicting the value variable Y?
The best regression line is defined as the one with the a. minimum sum of the squared error. b. maximum sum of the squared error. c. average of the squared error. d. none of the above.
Sales for a company are typically higher in the summer months than in the winter months. This variation would be called a a. trend. b. seasonal factor. c. random factor. d. cyclical factor.
In a bank reconciliation, an outstanding check is a. Deducted from the book balance. b. Deducted from the bank balance. c. Added to the bank balance. d. Added to the book balance. Answer each...
What steps must a business take to implement a program of social responsibility?
Wagner Company purchased an office building 20 years ago for $1.3 million, $500,000 of which was attributable to land. The mortgage has been fully paid. The current balance sheet follows: The company...
Suppose that a major airline extended the useful lives of its Boeing 727-100 aircraft from 16 years to 20 years. As a result, depreciation and amortization expense was decreased by $9,000,000. The...
Suppose American Airlines acquired a new Boeing 747 airplane for $250 million. Its expected residual value was $70 million. The companys annual report indicated that straight-line depreciation was...
Wells Technical Institute (WTI) provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid...
The function P(x)=0.35x-73 models the relationship between th e number of pretzels x that a certain vendor sells and the profit the vendor makes. Find P(1,000), the profit the vendor makes from...
Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management...

a. Explain the difference between direct costs and overheads. b. Describe the different types of direct cost

Question:

Step by Step Answer:

a Direct costs and overheads In a manufacturing business costs are usually classified as either dire...View the full answer

Introduction To Financial Accounting

Students also viewed these Accounting questions