11. All of the following are functions of managerial accounting EXCEPT: a. Balancing b. Planning c. Directing d. Controlling 12. costs relate to the creation of a finished product, while generally associated with running the overall business. a. Inventory, administrative b. Manufacturing, operating c. Product, period d. Period, product 13. Which of the following would be part of manufacturing overhead? a. Raw materials cost b. Direct labor cost c. Advertising cost d. Depreciation on factory equipment 14. Cost of goods manufactured is calculated as: a. Beginning WIP Inventory + Total Manufacturing Cost b. Total Cost of WIP-Ending WIP Inventory c. Total Cost of WIP + Beginning WIP Inventory d. Total Manufacturing Cost + Total Cost of WIP costs are more 15. Which of the following salaries would most likely be considered a product cost? a. Factory plant manager b. Office manager c. Payroll clerk d. CEO 3