Homework Answers
| Correct Option : THIRD | ||||||||||
| All of these expenses. | ||||||||||
| Explanation: | ||||||||||
| Depreciation on manufacturing equipment is an expense because it is wear and tear of assets over period of time. | ||||||||||
| It has to be allocated over a period of time on a systematic basis. | ||||||||||
| Salary on an administrative employee is an administrative expense. | ||||||||||
| Insurance for factory building is an expense to protect future damage or uncertainty. | ||||||||||
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Which of the following statements about manufacturing overhead costs is not correct? All manufacturing costs other...
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Which of the following would not be considered a product cost? Multiple Choice Direct material costs. Factory supervisor's salary. Direct labor costs. Budget accountant's salary. Manufacturing overhead costs.
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Which of the following is NOT a period cost?Multiple ChoiceCost of a seminar concerning tax law updates that was attended by the company's controller.Insurance on a company showroom where customers can view new products.Depreciation of factory maintenance equipment.Salary of a clerk who handles customer billing.For financial reporting purposes, the total amount of product costs incurred to make 5,000 units is closest to:Multiple Choice$ 70,750$ 10,000$ 65,750$ 55,750
Which account is most unlikely to be credited when an expense is recorded? Multiple Choice O...
Which account is most unlikely to be credited when an expense is recorded? Multiple Choice O O Cash O O Accounts Payable Accounts Receivable An account with the word "Prepaid" in its title A prepayment of rent for the next three months (not including this month): Multiple Choice decreases stockholders' equity. O increases expenses a has no effect on total assets. reduces total assets.
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Determine the amount of manufacturing/product costs given the following information: Depreciation on a factory building $...
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Anwser all multiple choice Multiple Choice (3 points each) 0 costs include all of the following event A wages of...
Anwser all multiple choice
Multiple Choice (3 points each) 0 costs include all of the following event A wages of production workers B. depreciation on factory equipment C. factory utilities D. direct materials purchased 10) Which of the following is not considered a product cost? A direct materials B. direct labor C. indirect materials D. selling expense 11) Fixed costs are expenses that A. vary in response to changes in activity level B. remain constant on a per-unit basis C....
Which of the following costs should not be recorded as an expense? Multiple Choice Ο Product shipping costs Ο Product advertising Ο Sales commissions Ο Insurance on factory building
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Anwser all multiple choice
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