Factory overheads are also known as

Assessment: JAMB UTME - Principles of Accounts - 2023 Subject: Financial Accounting

Question 1 Report

Factory overheads are also known as
Answer Details
Factory overheads are also known as indirect cost. This term refers to the expenses incurred in a factory that cannot be directly attributed to the production of a specific product or service. These costs include items such as factory rent, utilities, depreciation of factory equipment, and indirect labor costs. Unlike direct manufacturing expenses, which are directly tied to the production process, factory overheads contribute to the overall manufacturing process but are not directly traceable to a specific product.
Read lesson note on Manufacturing Accounts (JAMB)
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