D) salary of the production manager 2) Which of the folowing corety describes the accounting for indirect labor costs? A) Indirect labor costs are period costs and are expensed as incurred B) Indirect labor costs are product costs and are expensed as incurred C) Indirect labor costs are D] Indirect labor costs are period product costs and are expensed when the manufactured product is sold. costs and are expensed when the manufactured product is sold. 3) Which of the following is not a focus of managerial accounting? A) providing budgets for future periods 8) providing highly detailed information on product lines, regions, and divisions C) providing information that managers need to make operational decisions D) providing summarized information on operational results to investors and creditors 4) Which of the following is an example of a period cost for a manufacturing company? A) property taxes for the factory C) advertising expense B) indirect materials D) depreciation on factory equipment 5) Managerial accounting includes the planning function. Which of the following items would be part of the planning function of a business's managerial accounting? A) creating detailed budgets B) comparing actual performance to previously budgeted amounts C) implementing operational plans D) evaluating results of operations 6) The Work-in-Process Inventory account includes the B) goods that are ready to be sold A) goods that are partially completed Cl goods that have been sold in the marketD) goods that are damaged during production