Managerial Accounting Exam 1
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nonmanufacturing costs include
Company presidents salary, sales commissions.
costs that are shared by multiple cost objects are known as
common costs
Fantastic Furniture makes custom order couches. The material used to make a couch is a(n) ______ cost of the customer placing the order.
direct
Factory costs such as cleaning supplies, taxes, insurance, and janitor wages are classified as ______.
manufacturing overhead
A manufacturing cost that cannot be easily traced to a specific cost object is a
indirect cost
materials that go into the final product are called
raw materials
Prior to being recorded on the income statement, manufacturers' product costs flow through
raw materials, work in process, finished goods
