The following data have been recorded for recently completed Job 323 on its job cost sheet. Direct materials cost $2,108. A total of 36 direct labor hours and 234 machine hours were worked on the job. The direct labor wage rate is $18 per labor hour. The Corporation applies manufacturing overhead on the basis of machine hours. The predetermined overhead rate is $25 per machine hour.
The total cost for the job on its job cost sheet would be __________.
Consider the following cost of Gala Company, a manufacturer of laptop computers: Soldering materials used on factory assembly lines. Classify the cost as direct materials, direct labor, manufacturing overhead, or period cost.
a) In cost accounting, when preparing an income statement using variable costing, where are shipping costs included?
b) Do shipping costs get included in the formula for calculating the gross profit margin?
Which of the following are considered product costs?
a. Period costs and administrative costs.
b. Selling and administrative costs.
c. Inventoriable costs and plant assets.
d. Direct labor and manufacturing overhead.
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