B-17.03 Worksheet

B-17.03 Worksheet - a period cost because they are replaced...

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Name: Date: Section: B-17.03 This paper earns a grade of ____. 1 Billboard advertising space would be period cost, not a product cost. 2 Beginning work in process, plus conversion costs, minus ending work in process, equals cost of goods manufactured. 3 Conversion costs are always the same, no matter the level of output. 4 Production costs generally consist of prime costs plus manufacturing overhead. 5 Product costs attach can also be described as "inventoriable." 6 The cost of air filters used in the paint shop of a manufacturing facility is
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Unformatted text preview: a period cost because they are replaced monthly. 7 Nonmanufacturing costs for selling and general/administrative purposes are not part of factory overhead. 8 Manufacturers may have three inventory categories: raw materials, finished goods, and cost of goods sold. 9 The cost of carbon fiber incorporated into the frame of a bicycle built by TecTrack Bikes is a product cost. 10 Prime costs include direct labor and manufacturing overhead....
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This note was uploaded on 02/29/2012 for the course ACCOUNTING 101 taught by Professor Hudack during the Spring '11 term at FIU.

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