DM-direct materials

DL-Direct Labor

FOH-Factory Overhead

als and direct labor only. t materials and factory overhead only C) direct labor and factory overhead only rect materials, direct labor, and factory overhead. 23, erial accounting is primarily concerned with managers and external users. A) True B) False 24. Raw materials inventory shows the cost of completed goods available for sale to customers. A) True B) False 25. If, at the end of the year, Factory Overhead has been overapplied, it means that A) B) C) D) actual overhead costs were greater than the overhead assigned to jobs. actual overhead costs were less than the overhead assigned to jobs. overhead has not been applied to jobs still in process. cost of goods will have to be increased by the amount of the overapplied o 26. Presented below is a list of costs and expenses incurred in the factory by Nu-W Corporation, a manufacturer of recreational vehicles (10 pts.). 1. Property taxes on the factory land 2. Nails and glue used in production 3. Cabinet maker's wages 4. Factory supervisors' salaries 5. Metal used in manufacturing 6. Depreciation on factory machines 7. Factory utilities 8. Carpeting for the recreational vehicles 9. Property taxes on the factory building 10. Insurance on factory equipment Instructions Classify the above items into the following categories: DM Direct Materials