Question 36.36. Which of the following is an example of indirect materials? (Points : 4)

Raw materials Memory chips for computer assembly Equipment cleaning supplies Finished goods inventory

Question 37.37. Manufacturing overhead would include which of the following? (Points : 4)

Building insurance on factory facilities Sales managers salary and commissions Product assembler wages Accounting department costs

Question 38.38. Which of the following is an example of indirect labor? (Points : 4)

Machinist hourly wages Equipment operator labor Assembly workers labor Supervisor salaries

Question 39.39. Which of the following is considered a period cost? (Points : 4)

Indirect labor for the month Insurance expense for the factory Indirect materials Salary for the marketing VP

Question 40.40. What type of cost does equipment maintenance fall under? (Points : 4)

Administrative cost Direct cost Period cost Overhead cost

Question 41.41. Which is an example of an administrative cost? (Points : 4)

Labor wages Sales staff commissions CEO salary and bonus Factory supervisor salary

Question 42.42. Which of the following positions is classified as indirect labor? (Points : 4)

Factory supervisor Meat cutters at a meat market Bakers at a bakery Bottlers at beverage plant

Question 43.43. Which of the following accounts will product costs flow into? (Points : 4)

Manufacturing costs Sales revenue Gross profit Cost of goods sold

Question 44.44. A manufacturing process uses a small plastic part. How is this plastic part used in the production process classified? (Points : 4)

Indirect cost Overhead cost Product cost Period cost

Question 45.45. If total manufacturing costs are $250,000, total cost of work in process is $500,000, and ending work in process is $200,000, what is cost of goods manufactured? (Points : 4)

$50,000 $300,000 $500,000 $950,000

Question 46.46. In a manufacturing company, what account is analogous to merchandise inventory in a merchandising company? (Points : 4)

Finished goods inventory Materials inventory Work in process inventory Manufactured goods inventory

Question 47.47. Kayaks international prides itself on manufacturing all of their kayaks by hand by artisans. During October, the company manufactured 10,000 paddles at a cost of $10 per paddle. 8,000 of the paddles were put with completed kayaks and 75% of these kayaks were sold during October. What is the cost of paddles that would appear in Kayaks Internationals cost of goods sold for October? (Points : 4)

$40,000 $60,000 $80,000 $100,000

Question 48.48. If total manufacturing costs are $1,400,000, manufacturing overhead is $400,000, and direct labor is $800,000, what is the cost of direct materials? (Points : 4)

$200,000 $600,000 $800,000 $1,400,000

Question 49.49. A companys beginning work in process inventory for March is $800,000 and its finished goods inventory is $500,000. Ending work in process inventory is $650,000 and ending finished goods inventory is $450,000. Costs added in March were:

Direct materials	$100,000
Direct labor	50,000
Manufacturing overhead	25,000

What is the cost of goods manufactured? (Points : 4)

Beginning finished goods inventory + cost of goods manufactured + ending finished goods inventory Beginning finished goods inventory + cost of goods manufactured ending finished goods inventory Beginning finished goods inventory - cost of goods manufactured ending finished goods inventory Beginning finished goods inventory + cost of goods sold ending finished goods inventory

Question 50.50. Cost of goods manufactured is shown on which financial statement? (Points : 4)

Income statement for both a manufacturing and merchandising company Income statement for a merchandising company Income statement for a service company Income statement for a manufacturing company