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Wagespaidtoproductionworkers 1. Classifythefollowingcostsincurredbyasteprailingmanufacturingcompanyasdirectmaterials,directlabor,factoryoverhead,orperiodcosts: a. Wagespaidtoproductionworkers b. Utilitiesintheoffice c. Depreciationonmachineryinplant d. Steel e. Accountant'ssalary f. Rentonfactorybuilding g. Rentonofficeequipment h. Maintenanceworkers'wages i. Utilities inthe plant j. Maintenanceonofficeequipment Busine ...

Other / Other 27 May 2016

Whichtypeofinventoryisnormallysoldtootherorganizations 1. Productcostsareconvertedfromcosttoexpensewhen a. unitsarecompleted. b. materialsarepurchased. c. unitsaresold. d. materialsarerequisitioned. 2. Acompanyhaspurchasedsomesteeltouseintheproductionofsteelrailings.IfthissteelhasNOTbeenputintoproduction,itwouldbeclassifiedas a. finishedgoodsinventory. b. factorysupplies. c. work-in-processinventory. d. directmaterialsinventory. ...

Other / Other 27 May 2016

Whichofthefollowingisatraitofanactivity-basedcostmanagementsystem 1. Whichofthefollowingisatraitofafunctional-basedcostmanagementsystem? a. unit-baseddrivers b. tracingintensive c. useofbothfinancialandnonfinancialmeasuresofperformance d. detailedactivityinformation 2. WhichofthefollowingisNOTatraitofafunctional-basedcostmanagementsystem? a. unit-baseddrivers b. narrowandrigidproductcosting c. allocation-intensive d. focusonman ...

Other / Other 27 May 2016

Whatarethetotalmanufacturingcostsadded 1. TheSumterCompanyrecentlyhadafireinitsaccountingoffice,destroyingmostofitsrecords.Onlythefollowinginformationcouldbesalvagedfor2016: Directlabor $400,000 Factoryoverhead 200,000 Costofgoodssold 800,000 Workinprocess,January1 80,000 Finishedgoods,January1 160,000 Workinprocess,December31 100,000 Finishedgoods,December31 120,000 Thecostofdirectmaterialsusedinproductionduring2016isa.$140, ...

Other / Other 27 May 2016

What is the amount of direct materials used Figure InventorybalancesfortheJamesonCompanyinOctober2016areasfollows: October1,2106 October31,2016 Rawmaterials $27,000 $21,000 Workinprocess 48,000 37,200 Finishedgoods 108,000 90,000 DuringOctober,purchasesofdirectmaterialswere$36,000.Directlaborandfactoryoverheadcostswere$60,000and$84,000,respectively. 1. RefertoFigure.Whatisthecostofmaterialsusedinproduction? a.$36,000 b.$ ...

Other / Other 27 May 2016

Thesumofdirectlaborandfactoryoverheadisreferredtoas 1. Whichofthefollowingcostsareexpensedintheperiodinwhichtheyareincurred? a. Directmaterialscosts b. Productcosts c. Factoryoverheadcosts d. Nonproductioncosts 2. Order-gettingcostswouldNOTinclude a. marketingcosts. b. customerservicecosts. c. advertising. d. salariesofsalespersonnel. 3. PeriodcostsdoNOTinclude a. order-gettingcosts. b. order-fillingcosts. c. order-makingc ...

Other / Other 27 May 2016

Prepareastatementofcostofservicessold. 1. CorlisCustomBuildersdesignsdecks,gazebos,andplayequipmentforresidentialhomes.ThefollowingwasprovidedfortheyearendedSeptember30,2016: Directlabor $600,000 Directmaterialpurchases 40,000 Administrative 130,000 Overhead 75,000 Selling 265,000 Beginningdirectmaterialsinventory 20,000 Beginningdesignsinprocess 14,000 Endingdirectmaterialsinventory 10,000 Endingdesignsinprocess 39,000 Theaver ...

Other / Other 27 May 2016

Determineprimeandconversioncosts 1. InformationfromtherecordsoftheMaloneyCompanyforthemonthofMay2016isasfollows: Purchasesofdirectmaterials $54,000 Indirectlabor 15,000 Directlabor 31,200 Depreciationonfactorymachinery 9,000 Sales 165,900 Sellingandadministrativeexpenses 18,900 Rentonfactorybuilding 21,000 Inventories May1,2016 May31,2016 Directmaterials $24,000 $26,100 Workinprocess 6,300 9,600 Finishedgoods 15,000 17,100 ...

Other / Other 27 May 2016

InventorybalancesfortheBeemerEnterprises 1. Themerchandiseinventoryinamerchandisingbusinesscorrespondsmostcloselytowhichofthefollowingitemsinamanufacturingfirm? a) materialsinventory b) costofgoodsavailableforsale c) costofgoodsmanufactured d) finishedgoodsinventory 2. Ifbeginningwork-in-processinventoryis$160,000,endingwork-in-processinventoryis$180,000,costofgoodsmanufacturedis$500,000,anddirectmaterialsusedare$130,000,whatarethec ...

Other / Other 27 May 2016

WhichofthefollowingwouldNOTbeincludedintheconversioncostofanautomobile 1. ConversioncostsdoNOTinclude a. directmaterials. b. directlabor. c. factoryoverhead. d. anyofthesecosts. 2. WhichofthefollowingwouldNOTbeincludedintheconversioncostofanautomobile? a. screwsusedinassembly b. assemblyworkerwages c. depreciationonmachinery d. steel 3. Coststhatareexpensedintheperiodinwhichtheyareincurredarecalled: a. Directmaterialscosts ...

Other / Other 27 May 2016