Chapter 18

All of the following would be reported on the balance sheet as a current asset except

factory overhead

Conversion costs are

factory overhead and direct labor

The primary goal of managerial accounting is to provide information to

management

Given the Following data:

$152,000

A company used $35,000 of direct materials, incurred $73,000 in direct labor cost, and had $114,000 in factory overhead costs during the period. If beginning and ending work in process inventories were $28,000 and $32,000, respectively, the cost of goods manufactured was

$218,000

Darwin Company's period costs are

$24,500

A company manufactured 50,000 units of a product at a cost of $450,000. It sold 45,000 units at $15 each. The gross profit is

$270,000

Given the following data:

$55,000

Jenson Company's product costs are

$995,000

Prime costs are

direct materials and direct labor

A plant manager's salary is a(n)

indirect cost