acct final
Which of the following costs are NOT included in finished goods inventory?
Company president's salary
Which of the following is the correct flow of manufacturing costs?
Raw materials, work-in-process, finished goods, cost of goods sold.
Which of the following is false in regards to direct materials for an auto manufacturer?
Small plastic clips to hold on door panels because they become part of the auto must be accounted for as dircet materials
wages of assembly line workers
direct labor
leather used to make baseball glove
direct material
Coolants for machines that sew baseball gloves
factory overhead
ink used to print players autograph on baseball glove
factory overhead
True or false: managerial accounting is governed by GAAP
false
if production increases
fixed cost decreases
Which of the following is most associated with managerial accounting?
may rely on estimates and forecasts
Cost of endorsement from a professional baseball player
period cost
office supplies used at headquarters
period cost
ink used to print professional baseball players signature on glove
product cost
leather to make baseball glove
product cost
if total variable cost increases
production increases
The following are all product costs except
sales and administrative expenses
if production increases
variable cost stays the same