select the corect answer

6. Salary paid to salesmen are period costs (TRUE FALSE) 7. Depreciation of Factory Machinery is classified as a period cost (TRUE FALSE) 8. Utilities for manufacturing equipment is a part of factory overhead (TRUE / FALSE) 9. The formula for computing the predetermined manufacturing overhead rate is estimated annual overhead costs divided by an expected annual operating activity CTRUE / FALSE) 10. Time tickets authorizes the issuance of raw materials from the storeroom to production (TRUE FALSE) 1. A company is more likely not to use a job costing system if: a. it manufactures a large volume of similar products. b. its production is based on order. c. it manufactures products with unique characteristics. d. none of the above. 2. The documents from which the costs are assigned to job cost sheets are: a. invoices, time tickets, and the predetermined overhead rate. b. materials requisition slips, time tickets, and the actual overhead costs. c. materials requisition slips, time tickets, and the predetermined overhead rate. d. materials requisition slips, payroll register, and the predetermined overhead rate. 3. At the end of a financial year, an organization using a job costing system prepares the cost of goods manufactured: a. from the job cost sheet. b. from the Cost of Goods Sold account. c. by adding direct materials used, direct labor incurred, and manufacturing overhead incurred. d. from the Work in Process Inventory account. Yes No No 4. Direct labor is: Product Cost Manufacturing Overhead Period Cost a. Yes b. No No Yes Yes c. Yes d. Yes No No 5. A manufacturer may report three inventories in its statement of financial position: (1) raw materials, (2) work in process, and (3) finished goods. Indicate in what sequence these inventories generally appear on the statement of financial position. a. (1). (2). (3) b. (3), (2), (1) e. (3), (1). (2) d. (2), (3), (1)