Management Process Three phases of the management process are controlling, planning, and decision making. Match the following descriptions to the proper phase by clicking on the phase (on the left) and then clicking on the correct description (on the right). Clear All Monitoring the operating results of implemented plans and comparing the actual results with expected results Controlling Inherent in planning, directing, controlling, and improving Planning Decision making Long-range courses of action Direct Materials, Direct Labor, and Factory Overhead Identify the following costs as direct materials, direct labor, or factory overhead for a magazine publisher: a. Staples used to bind magazines b. Wages of printing machine employees c. Maintenance on printing machines d. Paper used in the magazine Prime and Conversion Costs Identify the following costs as a prime cost, conversion cost, or both for a magazine publisher: a. Paper used for the magazine b. Wages of printing machine employees c. Glue used to bind magazine d. Maintenance on printing machines Product and Period Costs Identify the following costs as a product cost or a period cost for a magazine publisher: a. Sales salaries b. Paper used for the magazine c. Maintenance on printing machines d. Depreciation expense-corporate headquarters Cost of Goods Sold, Cost of Goods Manufactured Timbuk 3 Company has the following information for March: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March1 Finished goods inventory, March 31 $21,000 54,250 35,000 87,500 92,750 36,750 42,000 a. For March, determine the cost of goods manufactured. Using the data given, prepare a statement of Cost of Goods Manufactured Timbuk 3 Company Statement of Cost of Goods Manufactured Total manufacturing costs incurred during March Total manufacturing costs incurred during March Total manufacturing costs Cost of goods manufactured b. For March, determine the cost of goods sold. Using the data given, prepare a statement of Cost of Goods Sold. Timbuk 3 Company Statement of Cost of Goods Sold Cost of goods sold