Answers
AS PER HOMEWORKLIB POLICY I'VE ANSWERED THE FIRST 4 PARTS OF THE QUESTION.KINDLY POST THE SAME QUESTION ONCE AGAIN ASKING TO SOLVE THE REMAINING PORTION.
1) True. Production workers' salary is a direct expense hence it should be recovered as Wages Expense in the income statement for the period incurred.
2) True . JIT approach ensures more flexible workforce. More flexible workforce ensures quality production with lower defect rates. Quality pdn ensures lower costs and increased customer satisfaction.
3)True.
Selling costs are not included in the per unit cost of a product. Thus misclassification of product costs as selling costs will lead to understatement of the average cost per unit .
4)False. Selling and administrative cost comes under period cost.
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