Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help with these WITHIN 5 MINUTES PLEASE!! Question 1 (1 point) Prime costs consist of direct materials and direct labour. direct labour and

i need help with these WITHIN 5 MINUTES PLEASE!!
image text in transcribed
image text in transcribed
image text in transcribed
Question 1 (1 point) Prime costs consist of direct materials and direct labour. direct labour and manufacturing overhead. direct materials and manufacturing overhead. direct materials, direct labour and manufacturing overhead. Question 2 (1 point) Before these materials are used to manufacture cabinets, a woodworker classifies lumber, paint, and glue as finished goods inventory. work in process inventory. raw materials inventory. merchandise inventory. Question 3 (1 point) Which type of company typically produces its own inventory (i.e., makes its own products for resale)? Manufacturer Service company Retailer Wholesaler Question 4 (1 point) Where would period costs be found on the financial statements? Under current assets on the balance sheet Under current liabilities on the balance sheet As operating expenses on the income statement in the period incurred As operating expenses on the income statement for a previous period Question 5 (1 point) Inventoriable product costs for a manufactured product include the costs of direct materials, direct labour and manufacturing overhead. marketing and research and development costs. the costs of direct materials and direct labour only, none of the above. Question 6 (1 point) The cost of lighting the factory would be classified as cost of a manufactured product. when determining the an indirect cost a direct cost a period cost none of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 2

Authors: Kin Lo, George Fisher

4th Edition

0135220491, 9780135220498

More Books

Students also viewed these Accounting questions