20) Direct materials are: a. Office supplies used by administrative employees b. Materials used to maintain assembly line equipment c. Raw materials that are converted to finished goods d. Replacement materials sold directly to customers 21) Which of the following is a product cost? a. Direct Labor Costs b. Factory Overhead C. Direct Materials d. All of the above 22) Which of the following contain a listing of items typically found in period costs? a. Office equipment depreciation, administrative salaries, direct materials b. Rent expense for office personnel, office equipment depreciation, administrative salaries c. Direct materials, direct labor, manufacturing overhead d. Direct materials, direct labor, rent expense for office personnel 23) Which of the following will decrease the balance of direct materials account? a. A job order is completed b. Direct Materials are received from supplier C. Assembly workers pull materials to begin a job d. All of the above 24) If fixed costs are $173,600 the selling price per unit is $76 and the variable costs are $20 per unit, how many units need to be sold in order to generate a net income of $5,600? a. 3,200 b. 3,100 C. 2,800 d. 6,200 25) Finished goods can best be described as: a. Materials available to enter production b. Completed jobs available for sale to customers C. Goods that are currently under production d. None of the above 26) The wages paid to a marketing director would best be classified as: a. Direct Labor b. Factory Overhead C. Selling and Administrative d. None of the above