Question 37

The accounting records of Georgia Company revealed the following costs: direct materials used, $250,000; direct labor, $425,000; manufacturing overhead, $375,000; and selling and administrative expenses, $220,000. Georgia's product costs total:

Select one:

a. $1,050,000

b. $830,000

c. $895,000

d. $1,270,000

e. some other amount

Question 38

Costs that are expensed when incurred are called:

Select one:

a. product costs

b. direct costs

c. inventoriable costs

d. period costs

e. indirect costs

Question 39

Which of the following is a period cost?

Select one:

a. Direct material

b. Advertising expense

c. Indirect Labor

d. Miscellaneous supplies used in production activities

e. Both "B" and "C"

Question 40

Which of the following is not a period cost?

Select one:

a. Legal costs

b. Public relations costs

c. Sales commissions

d. Wages of assembly-line workers

e. The salary of a company's chief financial officer (CFO)