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Which of the following is true regarding the flow of costs through a manufacturer’s inventory accounts?A. Purchases and Freight-In increase the Finished Goods Inventory accountB. Direct materials used increases the Work-In-Process Inventory accountC. Cost of Goods Sold increases the Finished Goods Inventory accountD. Cost of goods manufactured increases the Raw Materials Inventory account
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which of the following is[…]
Read moreA product cost is recorded as a(n)A. Asset and then expensed when the product is soldB. Expense in the period in which the product was purchased or manufacturedC. Liability and then expensed when the product is soldD. None of the above
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.A product cost is recorded[…]
Read more“Assume the following for Smart Touch Learning for the year ended December 31, 2018: Total units produced = 6,000; Sales Revenue = $1,100,000; Cost of goods manufactured = $600,000; Finished Goods Inventory = $140,000. Calculate the unit product cost for the period.(Round your answers to the nearest whole dollar.)”
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.“Assume the following for Smart[…]
Read moreContribution Format Income Statement
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Contribution Format Income Statement SalesVariable[…]
Read moreWhich of the following is a direct cost of manufacturing a sport boat?A. Salary of an engineer who rearranges plant layoutB. Cost of customer service hotlineC. Cost of boat engineD. Depreciation on plant and equipment
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which of the following is[…]
Read moreStep-variable costs,”A cost that generally varies with the level of activity
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Step-variable costs,”A cost that generally[…]
Read moreWhich of the following is not part of manufacturing overhead for producing a computer?A. Manufacturing plant utilitiesB. Manufacturing plant property taxesC. Insurance on plant and equipmentD. Depreciation on delivery trucks
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Which of the following is[…]
Read moreStep-fixed costs
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Step-fixed costs A cost that[…]
Read moreYear Round Company manufactures sunglasses. Following is a list of costs the company incurred during April.Use the list to calculate the total manufacturing overhead costs for the month.,”Manufacturing Overhead: Plant Depreciation $8000 Plant foreman’s salary $4000 Plant janitor’s wages $1200 Glue for frames $250 Oil for equipment $150Total Manufacturing Overhead: $13
Average Rating 0 out of 5 stars. 0 votes.You must log in to submit a review.Year Round Company manufactures sunglasses.[…]
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