Question
What would be the correct conceptfor the alternatives mentioned below ____1.Prime Costs ____2.Conversion Costs ____3.Example of a cost classified as factory overhead ____4.Credit to materials
What would be the correct conceptfor the alternatives mentioned below
____1.Prime Costs
____2.Conversion Costs
____3.Example of a cost classified as factory overhead
____4.Credit to materials inventory account
____5.Credit to Factory Overhead
____6.Cost object
____7.Period costs
____8.Financial accounting
____9.Factory Overhead Debit
____10.Debit to Work in Process
____11.Costs
____12.Managerial Accounting
____13.Included in the Factory Overhead account
____14.Product costs
A.Includes "direct materials", "direct labor" and "factory overhead".
B.Factory overhead costs applied
C.Salary of a production supervisor
D.Include selling and administrative expenses
E.Governed exclusively by GAAP
F.Includes "direct materials" and "direct labor".
G.Factory overhead costs incurred
H.Addresses internal users (company management).
I.Includes "direct labor" and "factory overhead".
J.May include a product, a sales territory, a department or other activity.
K.Indirect labor and indirect materials
L.Requisitioning of materials
M.Incurred in the business to generate revenue
N.Includes direct material costs, direct labor and factory overhead applied.
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