Which of the following is not a product cost
What is not a product cost?
The selling, general, administrative (SG&A) and interest costs of a retailer and/or a manufacturer are not product costs. Rather, they are reported as expenses on the income statement of the accounting period in which they were incurred.
Which of following is a product cost?
Product cost refers to the costs incurred to create a product. These costs include direct labor, direct materials, consumable production supplies, and factory overhead.
Which of the following is a non production cost?
General examples of non-manufacturing cost include salary of office staff, accounting staff, general housekeeping staff, salesmen, advertising expenses, transport and logistics costs etc.
What are the 3 product costs?
In general, three types of expenses are included in the cost of products: the cost of direct materials, direct labor costs and manufacturing overhead costs.
Which of the following is not a period cost?
Items that are not period costs are those costs included in prepaid expenses, such as prepaid rent. Also, costs included in inventory, such as direct labor, direct materials, and manufacturing overhead, are not classified as period costs.
Which is not a non manufacturing overhead?
The indirect costs of an organization that are not classified as manufacturing overhead. They include administration overheads, selling overhead, distribution overhead, and (in some cases) research and development costs.
Which of the following is not a direct material?
The answer is B) Lubricant for a ball-bearing joint for a large crane.
Which of the following is NOT a manufacturing overhead cost?
Manufacturing overhead does not include any of the selling or administrative functions of a business. Thus, the costs of such items as corporate salaries, audit and legal fees, and bad debts are not included in manufacturing overhead.
What are non-manufacturing goods?
Non-manufacturing costs refer to those incurred outside the factory or production department. These are costs are not needed in transforming materials into finished goods. Non-manufacturing costs include: selling expenses and general expenses.
What is non manufacture?
: not of or relating to the process of making wares by hand or by machinery : not of or relating to manufacturing nonmanufacturing industries/jobs.
What is not included in overhead?
Overhead refers to the ongoing costs to operate a business but excludes the direct costs associated with creating a product or service. Overhead costs can be fixed, variable, or a hybrid of both.
What is non cost accounting system?
Non Integrated Accounting Systems contain fewer accounts when compared with financial accounting because of the exclusion of purchases, expenses and also Balance Sheet items like fixed assets, debtors and creditors. Items of accounts which are excluded are represented by an account known as cost ledger control account.
What are non-manufacturing companies?
The non-manufacturing sector includes such industries as utilities, mining, finance and banking, business services and construction.
What is non-manufacturing industry?
Meaning of non-manufacturing in English
used to describe an activity that does not involve making products: Profits in the non-manufacturing sector, particularly at banks and other service-related industries, are still headed downward.
Which one of the following is not a cost unit?
| Q. | Which one of the following is not a cost unit? |
|---|---|
| B. | Credit division |
| C. | Patient day |
| D. | Tonne-mile |
| Answer» b. Credit division | |
Which of the following does not use process costing?
Explanation: Air-craft manufacturing is a assembly type of manufacturing.
What item is not included in Cost Accounting?
An item that cannot be included in cost accounting is the profit or loss on the sale of fixed assets. Cost accounting means recording all the business transactions which are related to the cost or the cost incurred in a business.