Question
5a) Which of the following statements is true? a. Advertising is a period cost and a plant managers salary is a manufacturing overhead cost. b.
5a)
Which of the following statements is true?
a. | Advertising is a period cost and a plant managers salary is a manufacturing overhead cost.
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b. | Advertising is a product cost and a plant managers salary is a period cost.
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c. | Advertising is a product cost and a plant managers salary is a manufacturing overhead cost.
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d. | Advertising is a period cost and a plant managers salary is a period cost. |
5b)
Which beginning and ending inventories appear on a cost of goods manufactured schedule?
a. | work in process only
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b. | raw materials and work in process only
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c. | raw materials only
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d. | raw materials, work in process, and finished goods
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5c)
Which one of the following would not be classified as manufacturing overhead?
a. | direct materials
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b. | indirect materials
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c. | indirect labour
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d. | insurance on factory building
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5d)
Which statement is true?
a. | Total units accounted for = beginning Work in Process units transferred out.
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b. | Beginning Work in Process + ending Work in Process = total units accounted for.
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c. | Total units accounted for = units in ending Work in Process + units transferred out.
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d. | Ending Work in Process equivalent units = total units accounted for. |
5e)
Snapps, Inc. uses a process cost system with a weighted-average method. What amount will always be the same as the number of units to be accounted for in a department?
a. | Units in the beginning inventory plus the units started or transferred into the department.
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b. | Ending inventory plus the units started or transferred into the department.
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c. | Number of units started or transferred into the department.
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d. | Number of equivalent units for conversion costs. |
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