Classify each cost as direct materials (DM), direct labor (DL) or manufacturing overhead (MOH) for Colgate Toothpaste:

Utility bill for the manufacturing plant DM DL MOH

Wages of production line workers DM DL MOH

Toothpaste ingredients DM DL MOH

List three examples of manufacturing overhead costs:

Define the following terms:

Product cost

Period cost

Given the following information, solve for Cost of Goods Sold (COGS). Note: You will not use all of the accounts listed below.

Raw Materials Inventory, January 1, 2016 $14,500

Raw Materials Inventory, December 31, 2016 $16,000

Work in Process Inventory, January 1, 2016 $30,000

Work in Process Inventory, December 31, 2016 $24,000

Finished Goods Inventory, January 1, 2016 $10,000

Finished Goods Inventory, December 31, 2016 $12,000

Cost of Goods Manufactured $140,000

Answer the questions below to describe the flow of costs in a Job Order Costing system.

What three categories are increased when manufacturing costs are accumulated?

What account is increased to assign manufacturing costs to a Job?

What account is increased when transferring the cost of a completed job?

What account is increased when a completed job is sold?