Podcast
Questions and Answers
What type of labor costs are normally charged to overheads?
What type of labor costs are normally charged to overheads?
- Piecework labor costs
- Indirect labor costs (correct)
- Direct labor costs
- Overtime labor costs
What is the purpose of calculating equivalent units in cost accounting?
What is the purpose of calculating equivalent units in cost accounting?
- To determine the cost of direct labor
- To determine the labor content of work-in-progress (correct)
- To determine the cost of indirect labor
- To determine the cost of overtime
What information is recorded on a time sheet for each employee?
What information is recorded on a time sheet for each employee?
- Basic pay, overtime premium, and total pay
- Hours worked, total pay, and overtime premium
- Hours worked, basic pay, and total pay
- Hours worked, basic pay, and overtime premium (correct)
What is the total pay for an employee working a basic seven-hour shift at £12.00 per hour?
What is the total pay for an employee working a basic seven-hour shift at £12.00 per hour?
How are employees paid under a piecework or bonus system treated during a stoppage?
How are employees paid under a piecework or bonus system treated during a stoppage?
What is the equivalent units completed for the month if 10,000 units have been completed and 2,000 units are work-in-progress at 50% completion?
What is the equivalent units completed for the month if 10,000 units have been completed and 2,000 units are work-in-progress at 50% completion?
What is the purpose of using a time sheet in cost accounting?
What is the purpose of using a time sheet in cost accounting?
What type of labor costs are directly related to production?
What type of labor costs are directly related to production?
How are overtime premiums calculated on a time sheet?
How are overtime premiums calculated on a time sheet?
What is the total hours worked for the week if an employee works a basic seven-hour shift from Monday to Friday?
What is the total hours worked for the week if an employee works a basic seven-hour shift from Monday to Friday?
