TAM BE AB A LE A Bos 17. Which of the following is a period cost? a. Indirect materials used in production. b. Raw materials purchased from a supplier. c. Supplies used by accounting personnel. d. Maintenance costs for manufacturing equipment. e. None of the above. 18. In an airplane factory, which of the following would most likely be classified as a direct material? a. Sandpaper. b. Jet engines. c. Inexpensive fasteners. d. Cleaning supplies. e. None of the above. 19. Costs of completed but unsold products would be found in which account? a. Raw Materials Inventory. b. Work in Process Inventory c. Finished Goods Inventory. d. Cost of Goods Sold. e. None of the above. 20. When direct materials are placed into production, their costs are transferred to: a. Cost of Goods Sold. b. Cost of Goods Manufactured. c. Finished Goods Inventory. d. Work in Process Inventory. e. None of the above. 21. The inventory cost flow equation is: a. Beginning balance + Transfers in - Ending balance = Transfers out b. Beginning balance + Transfers in + Ending balance = Transfers out C. Beginning balance - Transfers in - Ending balance = Transfers out d. Beginning balance - Transfers in + Ending balance = Transfers out e. None of the above