Accounting for Conversion Cost Flashcards
1
Q
It is the physical or mental effort expended in manufacturing a product.
A
Labor
2
Q
It is the price paid for
using human resources.
A
Labor Cost
3
Q
What does the compensation paid to employees who engage in production-related activities represent?
A
Factory Labor
4
Q
What is the principal labor cost?
A
Wages paid to production workers
5
Q
These are payments made regularly
A
