Question: direct cost are the same as variable cost, for example, direct material and direct labour. and indirect costs are the same as fixed costs, for

"direct cost are the same as variable cost, for example, direct material and direct labour. and indirect costs are the same as fixed costs, for example rent and supervision" is this statement correct? explain your answer

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Direct cost are the same as variable cost, for example, direct material and direct labour. and indirect costs are the same as fixed costs, for example rent and supervision is this statement correct?...

SecretLab, Inc., produces two types of gaming chairs: Overwatch and Cyberpunk. Their biggest seller is the Overwatch, but they have been concerned about the recent decline intheir market share for...

Madigan Company commenced operations at the beginning of the current year. One of the company's products, a refrigeration element, sells for $185 per unit, Information related to the current year's...

The Good Job Company manufactures windows. Its manufacturing plant has the capacity to produce 20,000 windows each month. Current production and sales are 15,000 windows per month. The company...

1. An example of a production overhead would be: a. Material. b. Rent c. Labor cost. d. Supervisory cost 2. All such expenses which are incurred for creating and enhancing the demands for the...

Question A- Observation (5 marks) Describe, briefly, a Human Resources Process you have worked on or are familiar with. What is the most relevant information you provided to your manager or the owner...

Each founder has now settled into their roles and begin work. It didn't take Andrea long to come up with a design. She did a lot of research on backpack designs and had extensive discussions with...

Question 1 Bloomeld Inc. manufactures widgets. A major piece of equipment used to make the widget is nearing the end of its useful life. The company is trying to decide whether they should lease new...

Make sure you include the work and explanation of the steps used to get to final answer. BUSI 354 Assignment - Relevant Cost Analysis Question 1 Aurora Company manufactures and sells a single...

fill the tables in excel case to study Renoir Inc. is a medium-sized cosmetics manufacturer that markets many products personal hygiene. Renoir's Canadian manufacturing operations are split between...

Suppose, you are the operator and manager of one of saigon pete's food trucks. Currently the owner of the company has three trucks operating in the city, all of which specialize in serving spicy...

Record the following General Journal transactions. Add 5% GST and 6% PST to all transactions as applicable. Jan 03 04 05 08 10 13 19 25 Bought merchandise worth $285 from Caldwell Co., invoice # 498,...

answer this Multiple Select Question Select all that apply The three classifications on the statement of cash flows are cash flows from business activities. financing activities. discontinued...

For this exercise, you will first select two firms. Pick 1 traditional economy company (automobiles, oil and energy, transportation, etc.) and 1 new economy company (social networking, digital media,...

List at least 3 pros and 3 cons of having a more diverse workforce. Can Canada compete better globally with our diverse population? Why?

As discussed in this chapter, employers make use of social media to gather additional information about potential job applicants. Is this ethical? Why or why not?

Working in groups of 3 to 4, discuss the statement: Employers need to be more concerned about how employees feel about their work and how they are treated. Do you agree with the statement? Why or why...