(Solution) 18-21 Multiple Choice (5 Pts Each) (highlight Or Clearly Mark Your Answer) 1) Which Of The Following Will Be Included In Manufacturing Overhead Costs?... | Snapessays.com


(Solution) 18-21 Multiple choice (5 pts each) (highlight or clearly mark your answer) 1) Which of the following will be included in manufacturing overhead costs?...


Thank you for answering the quiz but the HW was not answered. Help me with the HW please!Week 6 Homework 18-21

 

Multiple choice (5 pts each) (highlight or clearly mark your answer)

 

1)

 

Which of the following will be included in manufacturing overhead costs?

 

a.

 

Indirect labor and indirect materials

 

b.

 

Salaries of salesmen

 

c.

 

Direct materials and direct labor

 

d.

 

Delivery costs to ship goods to customers

 

2)

 

Product costs are expensed:

 

a.

 

when the products are consumed or sold.

 

b.

 

at the end of the accounting period they are incurred in.

 

c.

 

when the products are transferred to Work-in-Process Inventory account.

 

d.

 

when the market value of products goes above the recorded value.

 

3)

 

Which of the following correctly describes the accounting for administrative expenses of a manufacturing company?

 

a.

 

Administrative expenses are product costs and are expensed as incurred.

 

b.

 

Administrative expenses are period costs and are expensed as incurred.

 

c.

 

Administrative expenses are product costs and are expensed when the manufactured product is sold.

 

d.

 

Administrative expenses are period costs and are expensed when the manufactured product is sold.

 

4)

 

Alexandra's Designs, a fashion boutique, incurred the following in the month of September:

 

Salaries paid to designers

 

$140,000

 

Wages paid to tailors

 

30,000

 

Indirect wages

 

10,000

 

What is the journal entry to record the total labor charges incurred during September?

 

A) 

 

Work-in-Process Inventory (direct labor)

 

170,000

 

Manufacturing Overhead (indirect labor)

 

10,000

 

       Wages payable

 

180,000

 

B) 

 

Work-in-Process Inventory (direct labor)

 

180,000

 

       Wages Payable

 

180,000

 

C) 

 

Wages Payable

 

180,000

 

       Finished Goods Inventory

 

150,000

 

       Work-in-Process Inventory (direct labor)

 

30,000

 

D) 

 

Manufacturing Overhead (indirect labor)

 

180,000

 

       Wages Payable

 

180,000

 

5)

 

Which of the following is both a prime cost and a conversion cost?

 

a.

 

Manufacturing overhead

 

b.

 

Direct materials

 

c.

 

Direct labor

 


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This question was answered on: May 23, 2022

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