59. Which of the following is an income statement account? * A) Dividend B) Accumulated depreciation C) Sales return & allowances D) Prepaid insurance 60. Statement of cash flows presents financial position of the company on the last date of the accounting period. * A) True B) False 61. Which of the following cost will be classified as a period cost? * A) Wages paid to a factory custodian B) Wages paid to a production department supervisor C) Wages paid to an assembly line worker D) Wages paid to an accountant 62. Cost accounting (job order costing/ process costing) involves the measuring, recording and reporting of * A) Product costs B) Managerial accounting decisions C) Period costs D) Future costs 63. Manufacturing overhead is over-allocated if * A) Actual overhead is less than allocated B) Actual overhead equals allocated overhead C) The indirect overhead cost rate equals the actual indirect cost rate D) Actual overhead is greater than allocated 64. Jessys Clothing factory produces two different styles of jeans for women. Recently Jessy paid $15,000 to purchase insurance for her factory. What type of cost is this if the cost object is style-A jeans? * A) Direct cost B) Indirect cost C) Can be direct or indirect D) Administrative cost. 65. 100 is received at the beginning of year 1, $200 is received at the beginning of year 2, and $300 is received at the beginning of year 3. If these cash flows are deposited at 12 percent, their combined future value at the end of year 3 is ______ * A) $1,536 B) $ 672 C) $ 727 D) $1,245