Multiple choice

Encircle the one most correct answer. 1. If the work in process inventory has increased during the period, A. cost of goods sold will be greater than cost of goods manufactured; B. cost of goods manufactured will be greater than cost of goods sold; C. current manufacturing costs will be less than cost of goods manufactured; D. current manufacturing costs will be greater than cost of goods manufactured. 2. An example of factory overhead would be A. raw materials; B. office supplies C. direct labor and factory overhead; D. depreciation on the plant. 3. Which of the following is the best example of a product cost? A. property taxes; B. the corporate president's salary; C. cost of goods sold; D. direct labor in a unit of product; E interest charges. 4. Which of the following is the best example of an expired cost? A. depreciation on factory equipment; B. conversion costs; C. cost of goods sold; D. direct labor; E. material in a unit of product