Choose The Correct Answer, No Further Explanation Needed 6. Factory rent is cate
ID: 2531400 • Letter: C
Question
Choose The Correct Answer, No Further Explanation Needed 6. Factory rent is categorized as? a) Product and direct material costs b) Product and direct labor costs c) Product and manufacturing overhead costs d) Period and selling/marketing costs 7. Wages paid to the equipment mechanic in a factory are a) Product and direct material cost b) Product and direct labor cost c) Product and manufacturing overhead cost d) Period cost and Selling and Marketing expense e) Period cost and General and Administrative expense 8. To calculate cost of goods manufactured you need to a) Subtract ending work-in-process from total work-in-process b) Add ending work-in-process from total work-in-process c) Multiply ending work-in-process with total work-in-process d) Divide ending work-in-process into total work-in-process 9· The sum of direct materials, direct labor, and manufacturing overhead incurred in the current period. a) Activity-based costing (ABC) b) Manufacturing overhead c) Total manufacturing costs d) Triple bottom line 10. Which schedule and/or financial statement would direct labor be reported? a) Cost of Goods Manufactured Schedule b) Cost of Goods sold Schedule c) Balance Sheet d) Income StatementExplanation / Answer
6 Factry rent is product and manufacturing overhead cost 7 Wages paid to equipment mechanic is product and manufacturing overhead cost 8 Subtract ending work in process from total wrok in process 9 Total manufacturing costs 10 Cost of goods manufactured schedule