Question
Indirect labor is recorded by debiting the ___________ account. Multiple Choice Salaries and Wages Payable Raw Materials Inventory Manufacturing Overhead Work in Process Inventory The
Indirect labor is recorded by debiting the ___________ account.
Multiple Choice
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Salaries and Wages Payable
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Raw Materials Inventory
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Manufacturing Overhead
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Work in Process Inventory
The price-earnings ratio is computed by dividing the current market value per share by the ____________________.
Multiple Choice
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earnings per share
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total assets
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net sales
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cash dividend per share
Department A had gross profit on sales of $22,000, contribution margin of $13,200, total direct expenses of $8,800, and total indirect expenses of $7,800. Department A has:
Multiple Choice
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a net loss from operations of $4,400.
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a net income from operations of $4,400.
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a net income from operations of $7,800.
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a net income from operations of $5,400.
Indirect labor for a manufacturing business includes the wages of:
Multiple Choice
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employees who sell the product.
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employees who assemble the product.
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factory repair and maintenance employees.
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office employees.
To compute the ____________________, it is necessary to subtract the ending work in process inventory from the sum of the beginning work in process inventory and the total manufacturing cost.
Multiple Choice
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manufacturing overhead
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cost of goods manufactured
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cost of goods sold
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gross profit
To compute the ____________________, it is necessary to subtract the ending work in process inventory from the sum of the beginning work in process inventory and the total manufacturing cost.
Multiple Choice
-
manufacturing overhead
-
cost of goods manufactured
-
cost of goods sold
-
gross profit
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