3. 7. The common goal of Just-in Time; Total Quality Management, and Activity-based Managem ent is to: Encourage competition a. b. Eliminate all costs d. Assign costs differently than before Achieve perfection. C. Indirect Labor cost is: 8 Non-manufacturing cost a. bi Raw materials cost Product cost C. Period cost. d 9 Which of the following is a period cost? Product Quality manager's salary a. b. Plant manager's salary Factory Manager's salary c. d. Sales Director's salary. 10. The formula for computing the predetermined manufacturing overhead rate is estimated by an expected annual operating activity expressed as: Direct labor cost a b. Direct labor hours Machine hours Any of the above. d. 11. Which of the following organizations would use a process costing system? Custom-based home builder. a. b. Law firm Automobile repair shop c. d. Chemical manufacturer 12. Which of the following is excluded from conversion cost? a. Indirect materials b. Indirect labor costs Depreciation on dDirect labor e None of the above. 13. In process costing system, the account used to accumulate costs within each department is the: factory plant C. a. Finished goods inventory. b. Work in Process inventory account Direct labor account d. Process cost report