Accounting chapters 18 and 19
which cost can be categorized as both a prime and a conversion cost?
direct labor
the "work in process inventory" and the "finished goods inventory" are each composed of the three basic manufacturing cost which are
direct materials and direct labor and factory overhead
Conversion cost include
factory overhead and direct labor
washed gravel stored by a company that operates a gravel plant
finished goods
manufactured products which have been started but not yet completed are best described as
goods in process inventory
period costs will be included in the calculation of
net income
cost of compressor units used in producing air conditioners
product and direct
uncut sheet metal used to make oven sides and doors
product and direct
electricity used to for lighting in production area
product and indirect
shipping charges for car bolts shipped to ford factory
product and indirect
costs of rolls of blank paper
product and prime
salary of pressroom supervisor
product and prime
variable cost are fixed per unit, but total cost vary with the number of units produced
true
which of the following is a conversion cost? A. tires for a car manufacturer B. sales associate wages C. Production managers salary D. Wood in a cabinet factory
C
sheet steel in the stock room of an auto manufacturer
Raw materials
what would be most likely to be considered a period cost?
corporate taxes
what is not a direct cost?
factory rent
soft drinks bottled and cased in bottling plant
finished goods
tires awaiting sale in the warehouse of a rubber company
finished goods
evaluate increases in cost over the past year for the company's president
managerial accounting function
cost of cardboard displays for bookstores
period
cost to ship books
period
wages of public relations personnel
period
wages of accounting clerks that process production payroll
period and conversion
salary of the CFO of the manufacturing company
period and fixed
cost of advertising the product
period cost
wages paid to the presidents secretary
period cost
cost of fabric for a clothing manufacturer
product
cost of machinery repairs
product and conversion
cost of utilities in the factory building
product and conversion
factory insurance cost
product and conversion
wages paid to factory foreman
product and conversion
wages paid to a machine operator
product and conversion and prime
rent on factory building
product and coversion
flour on hand in a commercial bakery
raw materials
sand stored in bins by a glass manufacturer
raw materials
three types of inventory for manufacturing firm
raw materials work in process and finished goods
fixed cost are fixed in total, but unit cost varies the number of units produced
true
cloth cut into pattern shape and size in clothing manufacturing firm
work in process
partially completed radios in an electronics manufacturing firm
work in process