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(05) Costs incurred in the manufacturing process are recognized as expenses: A. When the product is completed. B. As the costs are incurred in production.

  1. (05) Costs incurred in the manufacturing process are recognized as expenses:

    A.

    When the product is completed.

    B.

    As the costs are incurred in production.

    C.

    When cash is received for sale.

    D.

    When the product is sold.

(01) There are two people living in a house, Hansen and Julia. For their entertainment, they subscribe to a cable TV service that costs $75 per month. To them, this cost is a(n):

A.

Manufacturing overhead cost

B.

Product cost

C.

Variable cost

D.

Indirect cost

(01) Which of the following is a period cost?

A.

product delivery cost

B.

cost that is incurred at regular intervals, such as rent

C.

salaries of the production supervisors

D.

depreciation on the equipment in the fitness center used by production workers

(01) Which of the following is not true of manufacturing overhead costs?

A.

They are indirect costs.

B.

They are part of manufacturing costs.

C.

They can be specifically traced to individual products.

D.

They are part of conversion costs.

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