What activities and responsibilities are not associated with management's functions? a. Planning b. Accountability c. Controlling d. Directing 12. 13. Planning is a function that involves a. hiring the right people for a particular job. b. coordinating the accounting information system. setting goals and objectives for an entity. d. C. analyzing financial statements. 14. Both direct materials and indirect materials are a. raw materials b. manufacturing overhead. c. merchandise inventory d. sold directly to customers by a manufacturing company. The work of factory employees that can be physically and directly associated with converting raw materials into finished goods is a. manufacturing overhead. b. indirect materials. c. indirect labor. d. direct labor. 15. The wages of a timekeeper in the factory would be classified as a. a period cost. b. direct labor. c. indirect labor. d. compliance costs. 16. Which one of the following is an example of a period cost? a. 17. A change in benefits for the union workers who work in the New York plant of a Fortune 1000 manufacturer Workers' compensation insurance on factory workers' wages allocated to the factory c. b. A box cost associated with computers d. A manager's salary for work that is done in the corporate head office 18. A manufacturing company calculates cost of goods sold as follows: a. Beginning FG inventory+ cost of goods purchased - ending FG inventory. b. Ending FG inventory-cost of goods manufactured+ beginning FG inventory c. Beginning FG inventory-cost of goods manufactured - ending FG inventory d. Beginning FG inventory+ cost of goods manufactured-ending FG inventory