The Three Main Factors in Computing Depreciation Are: (1) ____________________

question 16

Short Answer

The three main factors in computing depreciation are: (1) ____________________, (2) ____________________, (3) ___________________.

---

Definitions:

Payroll Payable

A liability account that records the amounts owed to employees for wages or salaries that have been earned but not yet paid.

Work-in-Process Inventory

Work-in-process inventory includes all the materials, labor, and overhead costs for products that are in the production process but are not yet complete.

Labor Distribution Report

A report issued by the payroll department to categorize all the types of labor incurred during the week.

Manufacturing Overhead-Applied

Refers to the allocation of all indirect costs of production to the products manufactured.