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DanielleCPA, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 793
Experience:  CPA experienced in tax and financial planning
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12. Which of the following costs incurred by a paper manufacturer

Customer Question

12. Which of the following costs incurred by a paper manufacturer would be included in the group of costs referred to as conversion costs? (Points: 5)
Advertising costs
Raw lumber (direct materials)
Machine operator's wages (direct labor)
Sales salaries

13. The details concerning the costs incurred on each job order are accumulated in a subsidiary ledger known as the: (Points: 5)
stock ledger
materials ledger
cost ledger
creditors ledger

14. Costs that are used in generating revenues during the current period are often referred to as: (Points: 5)
period costs
conversion costs
factory overhead costs
product costs

15. Which types of inventories does a manufacturing business report on the balance sheet?
(Points: 5)
Finished goods inventory and work in process inventory

Direct materials inventory and work in process inventory
Direct materials inventory, work in process inventory, and finished goods inventory
Direct materials inventory and finished goods inventory

16. When you are billing a customer for a service job all of the charges are reasonable EXCEPT: (Points: 5)
material storage and handling charges
additional charge for the first hour
overtime premium if the worker arrived at the customer's job after normal working hours due to another job running over the estimated time
none of these are reasonable charges
Submitted: 6 years ago.
Category: Finance
Expert:  DanielleCPA replied 6 years ago.


12. machine operators wages


13. cost ledger


14. period costs


15. direct materials, finished goods, wip


16. premium for running late

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