QUESTION 2 Steuben Company produces dog houses. During the current year, Steuben Company incurred the following costs Rent on manufacturing facility $ 250,000 Office manager's salary 150,000 Wages of factory machine operators 110,000 Depreciation on manufacturing equipment 50,000 Insurance and taxes on selling and administrative offices 30,000 Direct materials purchased and used 170,000 Based on the above information, which of the following would not be treated as a product cost O Wages of factory machine operators Office manager's salary Depreciation on manyfacturing equipment Rent expense incurred on manufacturing facility Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 3 elect the correct statement regarding managerial and financial accounting Users of managerial accounting information desire greater aggregation than do users of financial accounting informati Both managerial and financial accounting use economic and physical data in addition to financial data. Financial accounting is more highly regulated than managerial accounting Timeliness is more important in financial accounting than in managerial accounting QUESTION 4 ick Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 4 Why do accountants normally calculate cost per unit as an average? O All of these are justifications for computing average unit costs. O Determining the exact cost of a product is virtually impossible. O Even when producing multiple units of the same product, normal variations occur in the amount of materials and labor O Minute details such as a second of labor time cannot be effectively measured. QUESTION 5 Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 5 Which of the following items would be reported directly on the income statement as a period cost? O All of these Wages paid to machine operators O Cost of lubricant for oiling machinery Selling and administrative salaries CLICCTIONS Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 6 Which of the following statements concerning manufacturing costs is incorrec O Direct labor costs are recorded initially in an inventory account. O All salaries incurred by the sales department are expensed as incurred O The cost of direct materials can be readily traced to products. O Depreciation on manufacturing equipment is a period cost. Click Save and Submit to save and submat. Click Save Ad Answers to save all ansue