1. For inventoriable costs to become expenses under the matching principle, A) all accounts payable must be settled. B) the product to which they attach must be sold. C). the product must be finished and in stock. D) the product must be expensed based on its percentage-of-completion. 2. A manufacturing company calculates cost of goods sold as follows: A) Beginning FG inventory + cost of goods manufactured - ending FG inventory. B)' Beginning FG inventory + cost of goods purchased - ending FG inventory C) Ending FG inventory-cost of goods manufactured + beginning FG inventory, D) Beginning FG inventory-cost of goods manufactured - ending FG inventory. 3. Modine Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31. 2009 Dec. 31. 2010 Raw materials inventory $ 96,000 Work in process inventory 156,000 174,000 Finished goods inventory . 150,000 138,000 : During 2010, Modine purchased $1,140,000 of raw materials, incurred direct labor costs of $150,000, and incurred manufacturing overhead totaling $192,000: How much is total manufacturing costs incurred during 2010 for Modine? A) $1,482,000 B) $1,488,000 C) $1,500,000 D) $1,506,000 4. Which one of the following does not appear on the balance sheet of a manufacturing company? A) Work in process inventory B) Cost of goods manufactured C) Raw materials inventory D) Finished goods inventory