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Abel companys manufacturing overhead is 20 percent of its total conversion costs If direct labor is 38000 and if direct material are 47000 the manufacturing overhead is?
Manufacturing Overheads = 20% of Conversion CostTotal Conversion Cost = ?Total Conversion Cost = Direct Labor + Manufacturing Overheads100% = 80% + 20%Total Conversion Cost = direct labor * 100/80Direct labor = 38000Total Conversion Cost = 38000 * 100/80Total Conversion Cost = 47500Manufacturing Cost = Total Conversion Cost - Direct LaborManufacturing Cost = 47500 - 38000Manufactruring Cost = 9500
Is Direct material cost combined with manufacturing overhead cost is known as conversion cost?
false, direct labor and manufacturing overhead = conversion cost
What is a cost sheet?
A cost sheet is a report on which is accumulated all of the costs associated with a product. It is used to compile the margin earned on a product or job.
Is Conversion cost is the sum of direct labor and manufacturing overhead?
Yes conversion cost is sum of direct labor and overheads which required to run the process of production of units.
What is the direct labor cost if a company's direct labor is 40 percent of its conversion cost and the manufacturing overhead cost for the last period was 60000 and the direct materials cost was 30000?
60000 + 30000 = 90000 = 60% / 60 = 1500 = 1% x 100 = 150000 = 100% X .4 = 60000 The above solution is incorrect. By definition, the conversion cost is the sum of the direct labor cost and the overhead. Therefore, if we assume x is the conversion cost, then x = 0.4x + 60,000. The solution is conversion cost = 100,000. Hence, the direct labor cost = 40,000. Note that the knowing the direct material cost is not necessary for the computation of the labor cost. I am really bad at math so i just have to think you are right on this one
Who do you prepare cost sheet?
cost sheet
What are the importance cost sheet?
what are the importance of cost sheet?
What is cost sheet and what purpose of use cost sheet?
Cost sheet is a statement, which shows various components of total cost of a product.It classifies and analyses the components of cost of a product. Previous periods data is given in the cost sheet for comparative study. It is a statement which shows per unit cost in addition to Total Cost. Selling price is ascertained with the help of cost sheet. The details of total cost presented in the form of a statement is termed as Cost sheet. Cost sheet is prepared on the basis of : 1. Historical Cost 2. Estimated Cost
What are the components of cost sheet?
There are three components of a cost sheet. These components are the prime cost, the factory cost, and the total cost.
How much does a 4X8 sheet of Masonite cost?
How much does a sheet of Masonite cost
Is the cost of direct materials classified as a conversion cost?
No, Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
Abel companys manufacturing overhead is 20 percent of its total conversion costs If direct labor is 38000 and if direct material are 47000 the manufacturing overhead is?
Manufacturing Overheads = 20% of Conversion CostTotal Conversion Cost = ?Total Conversion Cost = Direct Labor + Manufacturing Overheads100% = 80% + 20%Total Conversion Cost = direct labor * 100/80Direct labor = 38000Total Conversion Cost = 38000 * 100/80Total Conversion Cost = 47500Manufacturing Cost = Total Conversion Cost - Direct LaborManufacturing Cost = 47500 - 38000Manufactruring Cost = 9500
What is the difference between cost sheet and cost statement?
cost sheet is preapred before the manufactring and cost statement is prepared after manufactring.
Cost sheet format?
cost sheets
What is the format of a cost sheet of a company?
Cost sheet of a company has expenses recorded in them. They mainly maybe short term cost's and long term cost's.
Is Direct material cost combined with manufacturing overhead cost is known as conversion cost?
false, direct labor and manufacturing overhead = conversion cost
What is the one cost that would be classified as part of both prime cost and conversion cost?
The one cost that would be classified as part of both prime cost and conversion cost would be:
