Answered: Identify each of the following costs as…

Identify each of the following costs as either direct materials (DM), direct labor (DL), or factory overhead(FO). The company manufactures tennis balls. Cans to package the balls.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 3EB: The table shows a list of expenses involved in the production of custom snowboard bindings. For each...

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Concept explainers

Manufacturing Costs

Manufacturing cost is the total cost of procuring or producing a product. In other words, the manufacturing cost is the cost that an individual or business owner undertakes for the manufacturing of goods.

Question

Identify each of the following costs as either direct materials (DM), direct labor (DL), or factory overhead
(FO). The company manufactures tennis balls. Cans to package the balls.

Definition Definition Indirect costs incurred while producing goods or services. Overhead costs cannot be directly attributed to products or services. Overhead includes indirect material cost, indirect labor cost, rent, utilities expenses, and depreciation. Since these costs directly affect the profitability of a company, managing overhead becomes an important task for management.

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