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