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

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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.
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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
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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.
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