A112Ch20 - Chapter 20 Homework 1. An example of a period...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 20 Homework 1. An example of a period cost is [A] product design costs. [B] advertising costs. [C] direct materials. [D] indirect materials. 2. Another term for product cost is [A] value-adding cost. [B] inventoriable cost. [C] period cost. [D] direct cost. 3. Which of the following is not a product cost? [A] Depreciation of office furniture [B] Direct labor [C] Direct materials [D] Manufacturing overhead 4. The three costs in every product are [A] direct materials, direct labor, and manufacturing overhead. [B] direct materials, work in process, and manufacturing overhead. [C] direct materials, work in process, and finished goods. [D] direct materials, direct labor, and period costs. 5. Materials and supplies that cannot be traced conveniently to specific products are called [A] raw materials. [B] direct materials. [C] indirect materials. [D] minor materials. 6. Costs that are identified with and traced to one product or a batch of products are called [A] direct costs. [B] overhead costs. [C] fixed costs. [D] indirect costs. 7. The factory personnel whose wages are traceable directly to a product include [A] employees who help to shape the product. [B] support personnel. [C] maintenance personnel. [D] machine operators and factory supervisors.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
8. Costs such as machinists, supervisors, and other support personnel, which are accounted for as manufacturing overhead costs, are called [A] variable labor. [B] indirect labor. [C] direct labor. [D] sales assistance. 9. All manufacturing costs incurred and assigned to products that are being produced are classified as [A] product costs. [B] overhead costs. [C] variable costs. [D] allocated costs. 10. Which of the following labor costs would be included in direct labor? [A] Materials storeroom custodian [B] Machine operators [C] Maintenance workers [D] Managers and supervisors 11. Which of the following costs is considered manufacturing overhead? [A] Indirect labor only [B] Indirect materials and indirect labor [C] Indirect materials only [D] None of these 12. The following are costs for a selected period: direct materials put into production, $50,000; direct labor cost of converting materials into product, $100,000; total indirect costs of manufacturing the product, $20,000. What is the per unit cost of manufacturing 10,000 units in this period? [A] $17 [B] $20 [C] $7 [D] $3
Background image of page 2
13. Recorded costs for the DC5 Division, which manufactured 3,000 units of Product DC5 during the month, are as follows: Direct materials $229,000 Direct labor 200,000 Indirect production costs 40,000 Supervisory services 20,000 Total $489,000 The per-unit cost of manufacturing Product DC5 this month is [A] $170. [B] $152.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This test prep was uploaded on 04/09/2008 for the course ACCT 112 taught by Professor King during the Spring '08 term at Howard County Community College.

Page1 / 8

A112Ch20 - Chapter 20 Homework 1. An example of a period...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online