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Which of the following are period costs (Points 1)

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Which of the following are period costs? (Points : 1)
current assets on the balance sheet
costs incurred and expensed in the accounting period
costs related to the sale of products
current liabilities on the balance sheet


2. Which of the following could be found on the income statement of a service company? (Points : 1)
building rent expense
cost of goods manufactured
cost of goods sold
sales revenue


3. Which of the following costs would appear on the income statements for both a merchandiser and a manufacturer? (Points : 1)
direct labor incurred
cost of goods manufactured
direct materials used
operating expenses


4. A merchandiser's purchases are equivalent to what for a manufacturer? (Points : 1)
materials inventory
cost of goods manufactured
work in process inventory
cost of goods sold


5. Which of the following is an example of direct labor? (Points : 1)
wages of assembly line personnel
salary of vice president of production
wages of factory security
salary of production manager


6. Which of the following would be debited to record the requisition of direct materials? (Points : 1)
materials inventory
work in process inventory
finished goods inventory
cost of goods manufactured


7. Which of the following would be debited to assign the costs of indirect labor? (Points : 1)
manufacturing overhead
wages payable
finished goods inventory
work in process inventory


8. Which of the following would be credited to accumulate the actual labor costs incurred? (Points : 1)
manufacturing overhead
work in process inventory
manufacturing wages
wages payable


9. Direct materials flow directly into what account? (Points : 1)
cost of goods sold
finished goods inventory
manufacturing overhead
work in process inventory


10. In a process costing system, direct labor and manufacturing overhead are normally incurred when? (Points : 1)
in full at the beginning of the process
at the end of the process
not recorded
evenly throughout the process


11. Which of the following is unique to a process costing system? (Points : 1)
The costs for each process stay with that process until the products are completed and moved to Finished Goods Inventory
Direct materials, direct labor, and manufacturing overhead are assigned to the first process only
Each process has its own separate Work in Process Inventory account
Work is not started on a product until an order has been received


12. In a process costing system, the entry to record the use of direct materials in
production would include which of the following? (Points : 1)
debit to finished goods inventory
credit to finished goods inventory
debit to work in process inventory
debit to materials inventory


13. The entry to record a $24,000 transfer from the assembly department to the finishing department would include which of the following? (Points : 1)
credit to work in process inventory-assembly
debit to finished goods inventory
credit to materials inventory
debit to work in process inventory-assembly


14. For which of the following are equivalent unit calculations prepared? (Points : 1)
neither direct materials nor conversion costs
both direct materials and direct labor costs
both direct labor and manufacturing overhead costs
both direct materials and conversion costs

Thank you for requesting me, but for future posts, please remember to type "For BusinessTutor" at the beginning of the post.

 

Please advise your deadline

 

Thank you




Customer: replied 5 years ago.
due in 12 hours, same as other, but again can patiently wait...

Thank you :)

 

I just need to confirm that you know you need to click the Accept button so that I get paid for my work, also please advise the name of the book you are using: Title, author's name, and edition

Customer: replied 5 years ago.
Horngren, C., & Harrison W. & Oliver, M.S. (2011). Accounting (9th ed.). Upper Saddle River, NJ: Pearson Prentice Hall. ISBN: 978-0-13-256905-7.....I also always click accept and also send bonus...
Thank you, XXXXX XXXXX working on teh questions, I have posted the answers to the other assignment
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