5) A company used $35,000 of direct materials, incurred s73000 in direct labor cost, and si14000 in 5) manufacturing overhead costs during period 1f beginning and ending work in process inventories were s28.000 and s21 000 respectively. What is the cost of goods manufactured? C) $215.000 6) Which of the following statements is and services A) Managerial accounting is used to determine the cost of products B) Managerial accounting is used to prepare budgets. business operations. C) Managerial accounting is used to plan and control results of D) Managerial accounting is used to report the company's financial position and to and investors. is accountable to various government bodies in which of the following ways? A) Providing a the owner's shareholders investment 70 M. t) obeying laws and regulations and paying taxes C) Making timely payments to vendors D) Making timely payments to creditors 8) For a manufacturing business, which of the following would not be considered an inventoriable product cost? B) Indirect materials A) Sales commission D) Factory utilities C) Direct labor 9) Manufacturing overhead includes which of the following? B) Direct materials and direct labor A) Indirect labor and indirect materials Do Delivery costs to ship goods to customers C) Salaries of salesmen 10) Which of the following statements about managerial accounting is CORRECt? A) Managerial accounting reports help investors make decisions. (GAAP) detailed information on parts of a company. Managerial accounting reports provide D) Managerial accounting reports are audited annually by Certified Public Accountants. 11)