Extra Multiple choice for Test 1

Extra Multiple choice for Test 1 - MC#1 Student 1 The three...

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MC #1 Student: ___________________________________________________________________________ 1. The three basic elements of manufacturing cost are direct materials, direct labor, and: A. cost of goods manufactured. B. cost of goods sold. C. work in process. D. manufacturing overhead. 2. Which terms below correctly describe the cost of the black paint used to paint the dots on a pair of dice? 3. Which two terms below describe the wages paid to security guards that monitor a factory 24 hours a day? 4. A lawnmower manufacturer computed a cost per unit of $53 by adding together last month's direct labor, direct materials, and manufacturing overhead and dividing that total by the 10,000 units produced last month. (There were no beginning or ending inventories.) If 9,000 units are going to be manufactured this month, we would expect that the:
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5. When applying manufacturing overhead to jobs, the formula to calculate the amount is as follows: A. Predetermined overhead rate divided by the actual manufacturing overhead incurred on the particular job. B. Predetermined overhead rate times the actual manufacturing overhead incurred on the particular job. C. Predetermined overhead rate divided by the actual units of allocation base charged to the particular job. D. Predetermined overhead rate times the actual units of allocation base charged to the particular job.
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