Conversion costs are a.total equivalent units of conversion costs for the period divided by total conversion costs for the period. b.one part of a cost of production report that is prepared to show greater detail, including multiple cost categories. c.total direct materials cost for the period divided by total equivalent units of conversion costs for the period. d.total conversion costs for the period divided by total equivalent units of direct materials cost for the period.

Answers

Answer 1

Answer:

Answer:

Explanation:

Conversion costs are those costs incurred in converting raw materials to finished products and includes costs of direct labour(wages and salaries paid to workers who are directly involved in production process).

Since costs of production comprises of direct material costs,direct labour costs ,direct expenses(costs of packaging for instance) and all indirect costs ,it would be safe to say costs of conversion is only a part of costs of production

Answer 2

Answer:

Final answer:

Conversion costs are part of a Cost of Production Report, including the costs associated with converting direct materials into finished goods. They contain direct labor costs and overhead costs related to the manufacturing process. Other cost categories are also part of the report.

Explanation:

The answer is B. Conversion costs are actually part of a Cost of Production Report that detail the costs involved in converting direct materials into finished goods. They encompass the sum of direct labor cost and overhead costs associated with the manufacturing process. However, the report also includes other cost categories.

For instance, you might have some materials that you need to convert into a finished product. The cost of labor and the overhead costs (rent, utilities, and other costs associated with the production process but not directly tied to a particular item) are your conversion costs.

Total conversion costs for the period divided by total equivalent units of direct materials cost for the period does not define conversion costs but rather can be used to calculate the cost per equivalent unit of conversion cost for a given period.

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Answers

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Explanation:

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