Survey of Accounting Chapter 10 Exam Questions and Correct Answers Latest Update 2024
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Survey of Accounting Chapter 10
Institution
Survey Of Accounting Chapter 10
Survey of Accounting Chapter 10 Exam Questions and Correct Answers Latest Update 2024
The cost of a manufactored product generally consists of - Answers Direct labor cost, direct materials cost and factory overhead cost
The cost of materials entering directly into the manufacturing process is cl...
Survey of Accounting Chapter 10 Exam Questions and Correct Answers Latest Update 2024
The cost of a manufactored product generally consists of - Answers Direct labor cost, direct materials
cost and factory overhead cost
The cost of materials entering directly into the manufacturing process is classified as - Answers direct
materials cost
If the cost of direct materials is a small portion of total production cost, it may be classified as part of -
Answers factory overhead cost
The cost of wages paid to employees directly involved in the manufacturing process in converting
materials into finished product is classified as - Answers direct labor cost
The following are all product costs except - Answers sales and administrative expenses
Which of the following would most likely use a job order costing system? - Answers a swimming pool
installer
Which of the following products would be manufactured using a job order costing system? - Answers
wedding invitations
The amount of time spent by each employee and the labor cost incurred for each individual job or for
factory overhead are recorded on - Answers employees' earnings records, in and out board and time
tickets
Each account in the work in process subsidiary ledger is called a - Answers materials requisition
The recording of the factory labor incurred for general factory use would increase - Answers Wages
payable
The FGs account is the controlling account for the - Answers sales ledger
Which type of inventories does a manufacturing business report on its balance sheet? - Answers Direct
materials inventory and FG inventory
Costs that are treated as assets until the product is sold are called - Answers Product costs
Which of the following would most likely be a product cost? - Answers Advertising for a particular
product
For a manufacturing business, inventory that is in the process of being manufactured is referred to as -
Answers Work in process inventory
A difference in quantity of materials used on two comparable jobs may be caused by - Answers
inadequately trained employees, poor quality materials, and employee carelessness
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