Question: Please Explain How You Got The Answer. Please Explain How You Got The Answer. 7. Which of the following costs is not included in factory

Please Explain How You Got The Answer.

Please Explain How You Got The Answer. Please Explain How You Got

Please Explain How You Got The Answer.

7. Which of the following costs is not included in factory overhead? A. Payroll taxes on the wages of supervisory factory workers. B. Indirect labor. C. Depreciation of manufacturing equipment. D. Manufacturing supplies used. E. Direct materials. 8. Raw materials that physically become part of the product and can be traced to specific units or batches of product are called: A. Raw materials sold. B. Chargeable materials. C. Goods in process. D. Indirect materials. E. Direct materials. 9. The three major cost components of a manufactured product are: A. Marketing, selling, and administrative costs. B. Indirect labor, indirect materials, and miscellaneous factory expenses. C. Direct materials, direct labor, and factory overhead. D. Differential costs, opportunity costs, and sunk costs. E. General, selling, and administrative costs. 10. The total cost of goods completed during the accounting period for a manufacturer is called: A. Ending finished goods inventory. B. Total manufacturing costs. C. Ending goods in process inventory. D. Cost of goods manufactured. E. Cost of goods sold. 11. Which of the following costs would not be classified as factory overhead? A. Property taxes on maintenance machinery. B. Expired insurance on factory equipment. C. Wages of the factory janitor. D. Metal doorknobs used on wood cabinets produced. E. Small tools used in production

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!