1. The management function that requires managers to look ahead and establish objectives is a controlling b. directing c planning d. censtraining 2. Which one of the following is not a direct material? a. A tire used for a lewn mower b. Plastic used in the covered case for a home PO c. Steel used in the manufacturing of steel radial tire d. Lubricant for a ball-bearing joint for a large crane 3. Because of automation, which component of product cost is decining? a. Direct labor b. Direct materials c. Manufacturing overhead d Advertising 4. Benson Inc.'s accounting recorde reflect the following inventories DeH.2 Drdi a013 2012 4,000 16.000 2,000 Raw materials inventory 04,000 00,000 Work in process inventory Finished goods inventory During 2013, Benson purchased $1.160,000 of raw materials, neurred direet labor ot of $200,000, and incurred manufacturing overhead totaling $120,000 Assume Benson's cost of goods manufactured for 2013 amounted to $1,360,000 How much would it report as cost of goode sold for the year? a. $1,368,000 b $1,400,000 $1,400,000 d $1,362,000 5 For a manufacturing company, which of the following is an example of a period os rather than a product cost? a. Depreciation on factory equipment Wages of machine operatore b Wages of salespersons d Insurance on factory equipment 6 Which of the following would be accounted for using a job order cost system a. The production of personal computers b. The production of automobiles G. The refining of petroleun d. The construction of a new campus building 7 Which one of the following should be equal to the balance of the Work in Process Inventory account at the end of the period? a The total of the amounts transferred from raw materials for the current period The sum of the costs shown on the job cost sheets of unfinished jobs The total of manufacturing overhead applied to work in process for the period The total manufacturing costs for the period b. c. d