In estimating the costs of products, manufacturers usually identify direct material, direct labour and manufacturing overhead costs.

Question:

In estimating the costs of products, manufacturers usually identify direct material, direct labour and manufacturing overhead costs. What modifications may be made to these classifications in estimating service costs?

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

Step by Step Answer:

Related Book For book-img-for-question

Management Accounting

ISBN: 9781760421144

7th Edition

Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton

See More Books

Question Posted: Nov 01, 2017 05:45 AM

See More Questions

Concrete Solutions manufactures concrete paving bricks. The processing takes place in two sequential departments. The following cost data relate to the month of January: Required: Prepare journal...
Overhead application using a predetermined overhead rate; practical capacity versus normal volume: manufacturer Jane Statton, the accountant for Hobart Happy Critters Ltd is in the process of...
Complete the following statements with one of the terms listed here. You may use a term more than once, and some terms may not be used at all. a. _______ can be traced to cost objects. b. _______ are...
Compensation survey data collected in July 2018 shows the average annual salary for Accountant II is $62,300.00 (rounded). With an aging rate of +2.3%, calculate the market value for an Accountant II...
Indicate whether each of these objects is chiral or achiral: (a) Golf ball (b) Baseball glove (c) Clock (d) T-shirt (e) Dress shirt (f) Automobile
Suppose that instead of shaking the end of a very long, taut string, you shake a point in the center of the string, keeping the amplitude and the frequency the same. Is the rate at which you must...
Figure P5.46 shows a lateral pipe fitting. This particular fitting has a mainline diameter of $4.0 \mathrm{in}$. The diameter of the lateral is $3.0 \mathrm{in}$., and the lateral angle is...
Blanker, Inc., has paid a regular quarterly cash dividend of $0.50 per share for several years. The common stock is publicly traded. On February 21 of the current year, Blankers board of directors...
How does it help companies to rely on seasonality and past performance if those items exist in their data? What unforeseen factors could impact seasonality that managers would need to consider...
A company sells precision grinding machines to four customers in four different countries. It has just signed a contract to sell, two months from now, a batch of these machines to each customer. The...
What is a value chain? Select any major service organisation with which you are familiar and describe the segments that you think would be included in its value chain. Provide a brief explanation of...
Using an example, explain how a retailer could focus on the purchasing segment of their value chain to create competitive advantage.
Approximate, to the nearest tenth, the volume and surface area (side only) of the cone satisfying the given conditions, where r is the radius and h is the height. r = 100 centimeters, h = 1.3 meters
How is the market share of the business calculated?
1. What is the purpose of a balance sheet and how is it structured? 2. Explain the concept of goodwill and how it is accounted for in financial statements. 3. Describe the difference between...
The Culture of Fear by Barry Glassner. You'll need to read the following sections/chapters this week: 1. In his introduction to the New Edition, Glassner asks "What is the price of fear - and who...
How is the customer acquisition cost calculated? By asking customers how much they would be willing to pay for the product/service By adding up all expenditures directly related to getting someone to...
Do some of the criteria give different investment recommendations? Why? The acceptance of the project proposal is dependent on four different factors, referred to as "performance hurdles" in the...
Using the employee payroll entry from P7-3B, complete the General Journal entry for the issuance of Cosmic Comics pay for the September 18, 2017 pay date. In P7-1B Tony Stanford owns Cosmic Comics in...
Find the image of x = k = const under w = 1/z. Use formulas similar to those in Example 1. y| y = 0 -21 -2 -1 -1, /1 12 T -1 -1 y= -2 x =0
List three reasons why a business should wish to repurchase some of its shares.
The business's dividend decision is really a by-product of its capital investment decision. Discuss.
Is it really important for a business to try to meet the needs of different types of investors when formulating its dividend policy?
2-Using the CPT data in figure below, a unit weight of 115 pcf, and an overconsolidation ratio of 3, determine (a) soil behavior type (b) o' using Kulhawy and Mayne correlation and (c) N60 for the...
How does the application of computational fluid dynamics (CFD) coupled with multiphase flow modeling enhance the understanding and prediction of complex hydrodynamic behaviors in industrial-scale...
1. From the joint distribution defined by the graphical model, determine if the conditional independence holds: ALL FIE, B, and provide brief explanation (5 points). 2. Given an undirected chain...

In estimating the costs of products, manufacturers usually identify direct material, direct labour and manufacturing overhead costs.

Question:

Step by Step Answer:

In manufacturing product costs comprise direct materials direct labour a...View the full answer

Management Accounting

Students also viewed these Advanced Accounting questions