Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

sample MCQs. thank you. At the end of the year, Mary's supervisor asked her to record sales transactions for products that would not ship until

sample MCQs. thank you.

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
At the end of the year, Mary's supervisor asked her to record sales transactions for products that would not ship until the following year, and she complied. Mary has violated IMA ethical standards. O True O FalseWhich of the following would be included as indirect manufacturing costs for a manufacturing company? O A. fuel and maintenance for delivery vehicles O B. wages of the assembly line workers O C. wages of the factory manager O D. sales commissionsIndirect labor costs might include the salary of the production manager. True O FalseMars Supplies Company provided the following information for the year: Beginning Balance-Work-in-Process Inventory $24,000 Ending Balance-Work-in-Process Inventory 58,000 Beginning Balance- Direct Materials Inventory 85,000 Ending Balance- Direct Materials Inventory 61,000 Purchases - Direct Materials 359,000 Direct Labor 470.000 Indirect Labor 21,000 Depreciation on Factory Plant and Equipment 24,000 Plant Utilities and Insurance 268,000 What was the amount of the manufacturing overhead costs? O A. $45,000 O B. $313,000 O C. $491,000 O D. $292,000Quinton Corporation provided the following information for the year: Beginning Balance-Work-in-Process Inventory $25,000 Ending Balance-Work-in-Process Inventory 58.000 Beginning Balance-Direct Materials 86,000 Ending Balance-Direct Materials 58.000 Purchases-Direct Materials 357,000 Direct Labor 468.000 Indirect Labor 20.000 Depreciation on Factory Plant and Equipment 25,000 Plant Utilities and Insurance 271,000 What was the total manufacturing costs incurred during the year? O A. $316,000 O B. $1, 169,000 O C. $853,000 O D. $701,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson, Lawrence Tomassini

5th Edition

0077282078, 9780077282073

More Books

Students also viewed these Accounting questions