4) Which of the following is NOT an element of manufacturing overhead? Sales manager's salary Plant manager's salary Factory repairman's wages a. b. d. Product inspector's salary Managerial Accounting Chapter 1 & 2 Test please indicate the correct answer using your scantron 1) Product costs are all of the following except a. Direct Materials b. Direct Labor Selling Expenses Manufacturing Overhead d. 2) A perlod cost is: a. Costs associated in producing the finished product 6 Costs associated with selling the product over time c. Costs associated with the price of raw materials d. Costs associated with indirect labor 3) The management of an organization performs several broad functions. They are Planning, directing, and controlling c. Planning, directing, and seling d. Planning directing, and training 4) Which of the following is NOT an element of manufacturing overhead? a. Sales managers salary b. Plant manager's salary c. Factory repairman's wages d. Product inspector's salary 5) Indirect Labor is a: a. Nonmanufacturing cost b. Raw material cost c. Product cost d. Period cost 6) Costs of goods available for sale is a step in the calculation of cost of goods sold of a. A merchandising company but not a manufacturing company. b. A manufacturing company but not a merchandising company c. Both a manufacturing and a merchandising company can use this step. d. Neither a manufacturing and a merchandising company can use this step. 7) The formula to determine the cost of goods manufactured is: Beginning raw materials+ Total manufacturing costs-Ending work in process inventory Beginning work in process inventory+ Total manufacturing costs-Ending finished goods inventory Beginning finished goods inventory+ Total manufacturing costs-Ending finished goods inventory Beginning work in process inventory+ Total manufacturing costs-Ending work in process inventory a. b. c. d. 8) Which of the following costs would a computer manufacturer include in manufacturing overhead? a. b. c. d. The cost of the disk drives The wages earned by computer assemblers The cost of the memory chips Depreciation on testing equipment