A firm has to pay a 20c per unit royalty to the inventor of a device which it manufactures and sells. How would the royalty charge be classified in the firm's accounts?
Which of the following would be classed as indirect labour?
A manufacturing firm is very busy and overtime is being worked. How would the amount of overtime premium contained in direct wages normally be classed?
A company makes chairs and tables. Which of the following items would be treated as an indirect cost?
Over which of the following is the manager of a profit centre likely to have control?
(i) Selling prices
(ii) Controllable costs
(iii) Apportioned head office costs
(iv) Capital investment in the centre