12. Which of the following is not categorized as an operating expense? A) the cost of...
12. Which of the following is not categorized as an operating expense?
A) the cost of products being sold B) marketing costs C) administrative overhead D) amortization of goodwill
Homework Answers
The following is not categorized as an operating expense:-
A) the cost of products being sold
Add Answer to:
12. Which of the following is not categorized as an operating
expense?
A) the cost of...
Assume you mistakenly treated the cost of production labor as a period cost (operating expense) and...
Assume you mistakenly treated the cost of production labor as a period cost (operating expense) and you sold all but one of the quilts you made (for the same price calculated in #1, $17.15). What is resulting effect on the following financial statement elements? a) Assets: Understated, Overstated, or No Effect b) Cost of Goods Sold: Understated, Overstated, or No Effect c) Gross Profit: Understated, Overstated, or No Effect d) Net Income: Understated, Overstated, or No Effect 2) If manufacturing...
Which of the following cannot be classified as variable cost? A) Variable Operating Expense B) Cost...
Which of the following cannot be classified as variable cost? A) Variable Operating Expense B) Cost of Construction: Labor C) Fixed Operating Expense D) Direct Cost
Which of the following is true of absorption costing? It expenses marketing costs as cost of...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following is true of cost of goods sold? a. It is an expense...
Which of the following is true of cost of goods sold? a. It is an expense that appears on the income statement. b. It includes all selling and administrative expenses. c. It represents the total conversion cost of the goods manufactured. d. The balance in this account is transferred to finished goods inventory. The ending inventories of materials, work-in-process, and finished goods appear: a. as non-operating expenses on the income statement. b. as current assets on the balance sheet. C....
What is the correct calculation for the operating expense percentage ratio a. Cost of Goods Sold...
What is the correct calculation for the operating expense percentage ratio a. Cost of Goods Sold / Gross Sales b. Cost of Goods Sold / Net Sales. c. Total Selling, General and Administrative Expenses Gross Sales. d. Total Selling, General and Administrative Expenses Ner Sales
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
(Q1)Which of the following accounting principles or conventions is contradictory to the GAAP requirement to expense...
(Q1)Which of the following accounting principles or conventions is contradictory to the GAAP requirement to expense R&D costs immediately? historical cost principle comparability matching principle conservatism (Q2) Which of the following is not a required disclosure regarding intangible assets in the period a company acquires intangible assets? the rate of return used to estimate the value of goodwill purchased the cost of any intangible assets acquired, separated into assets subject to amortization, assets not subject to amortization, and goodwill for...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of f...
34. Which of the following is part of factory overhead cost? a. sales commissions b. depreciation of factory equipment and machines c. depreciation of sales person's vehicle d. direct materials used ANSWER: b 35. Which of the following manufacturing costs is an indirect cost of producing a product? a. oil lubricants used for factory machinery b. commissions for sales personnel c. hourly wages of an assembly worker d. memory chips for a microcomputer manufacturer 36. All of the following could...
The following questions are based on Tustin Corporation, which produces a single product selling for $12...
The following questions are based on Tustin Corporation, which produces a single product selling for $12 per unit. One hundred thousand units were produced, and 80,000 units were sold during year 1; all ending inventory was in finished goods inventory. Fixed Costs Variable Costs Direct materials $2.40 per unit produced Direct labor.... 1.60 per unit produced Factory overhead - $240,000 .80 per unit produced Marketing and administrative 128,000 .80 per unit sold Tustin had no inventory at the beginning of...
Instructions Classify each cost as either a product cost or a period cost. Indicate whether each...
Instructions Classify each cost as either a product cost or a period cost. Indicate whether each ne cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate each period cost is a selling expense or an administrative expense. Use the followin headings for your answer, placing an "X" in the appropriate column: whether g tabula Period Costs Product Costs Direct Cost Direct Factory Materials Labor Overhead Selling Expense Administrative Expense Cost Cost Cost PR...
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
Which of the following is true of cost of goods sold? a. It is an expense that appears on the income statement. b. It includes all selling and administrative expenses. c. It represents the total conversion cost of the goods manufactured. d. The balance in this account is transferred to finished goods inventory. The ending inventories of materials, work-in-process, and finished goods appear: a. as non-operating expenses on the income statement. b. as current assets on the balance sheet. C....
What is the correct calculation for the operating expense percentage ratio a. Cost of Goods Sold / Gross Sales b. Cost of Goods Sold / Net Sales. c. Total Selling, General and Administrative Expenses Gross Sales. d. Total Selling, General and Administrative Expenses Ner Sales
Which of the following is true of absorption costing? It expenses marketing costs as cost of goods sold. It treats direct manufacturing costs as a period cost. It includes fixed manufacturing overhead as an inventoriable D) It treats indirect manufacturing costs as a period cost. Answer: 17. Which of the following is true of variable costing? A) It expenses administrative costs as cost of goods sold. B) It treats direct manufacturing costs as a product cost. It includes fixed manufacturing...
The following questions are based on Tustin Corporation, which produces a single product selling for $12 per unit. One hundred thousand units were produced, and 80,000 units were sold during year 1; all ending inventory was in finished goods inventory. Fixed Costs Variable Costs Direct materials $2.40 per unit produced Direct labor.... 1.60 per unit produced Factory overhead - $240,000 .80 per unit produced Marketing and administrative 128,000 .80 per unit sold Tustin had no inventory at the beginning of...
Instructions Classify each cost as either a product cost or a period cost. Indicate whether each ne cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate each period cost is a selling expense or an administrative expense. Use the followin headings for your answer, placing an "X" in the appropriate column: whether g tabula Period Costs Product Costs Direct Cost Direct Factory Materials Labor Overhead Selling Expense Administrative Expense Cost Cost Cost PR...
Most questions answered within 3 hours.
-
The free energy change for the following reaction at 25 °C, when
[Sn2+] = 1.17 M...
asked 19 minutes ago -
An MNE is this kind of industry when competition in one country
is essentially independent of...
asked 1 hour ago -
. For this set of questions, determine what
proportion of a normal distribution is located betweeneach...
asked 2 hours ago -
A college student is employed as a door-to-door newspaper
salesman. Historical data suggests that the student...
asked 3 hours ago -
MATLAB HW 11 problem using Switch Case and Input commands
Write a script file that calculates...
asked 3 hours ago -
Considering gravitational time dilation, calculate the time that
passes in Earth’s surface while 1 hour passes...
asked 3 hours ago -
Minitab Problem: Take the Lake Hume June rainfall data and find
use the processes outlined in...
asked 4 hours ago -
X Company is trying to decide whether to continue using old
equipment to make Product A...
asked 4 hours ago -
IN PYTHON ONLY !! Program 2: Re-work
program #5 (WeeklyHours) from the previous assignment such that...
asked 5 hours ago -
The average length of time between arrivals at a turnpike
toll-booth is 26 seconds. What is...
asked 6 hours ago -
(a) A piston at 6.1 atm contains a gas that occupies a volume of
3.5 L....
asked 8 hours ago -
Please answer true or false. Words
cannot be changed or added in to make it true...
asked 8 hours ago