The major reporting standard for presenting managerial accounting information is relevance a. b.generally accepted accounting principles c the cost principle d. the current tax law. Which of the following is not a manufacturing cost category? Cost of goods sold Oa. b. Direct materials Direct labor Oc. d. Manufacturing overhead Cotter pins and lubricants used irregularly in a production process are classified as miscellaneous expense. a. b. direct materials c indirect materials cd nonmaterial materials. Benson Inc.'s accounting records reflect the following inventories: Dec 31, 2016 Dec 31, 2017 Raw materials inventory $ 80,000 $ 64,000 Work in process inventory 104,000 116,000 Finished goods inventory 100,000 92,000 During 2017, Benson purchased $1,450,000 of raw materials, incurred direct labor costs of $250,000, and incurred manufacturing overhead totaling $160,000. How much is total manufacturing costs incurred during 2017 for Benson? $1,864,000 a. b. $1,876,000 c $1,860,000 d. $1,872,000 If the amount of "Cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs" for the period, then a. ending wor ending work in process inventory is greater than or equal to the amount of the beginning work in process inventory hending work in process is greater than the amount of the beginning work in process inventory ending work in process is equal to the cost of goods manufactured. ending work in process is less than the amount of the beginning work in process inventory