Factory overhead costs do not include which of the following: a. insurance b. heating c. taxes d, hourly wages
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Factory overhead costs do not include which of the following:a. insurance b. heating c. taxes d, hourly wages
2. The most common method used when assuming how inventory flows through the manufacturing process is:
a. LIFO b. FIFO c. LILO d. FILO
3. Activity-based activities include all of the following, except:
a. direct material b. fabrication c. assembly d. selling and administration
4. Wages of a company’s janitors or cleaning crew would be considered:
a. direct labor b. direct input c. factory overhead d. offset expenses
5. Cost of production reports can be used to compare materials output quantity to materials input quantity is known as ____________ of a process.
a. equivalency b. yield c. subtotal units d. indirect material
6. Businesses like attorneys, accountants, and hospitals use _________ systems.
a.
process cost b. period costs c. department allocation d. job order costs7. ________ costs include direct labor and factory overhead.
a. prime b. product c. conversion d. period
8. When is a cost of production report prepared for each processing department?
a. periodic intervals b. random intervals c. Specific intervals d. Unspecified intervals
9. Which of the following would use job order cost systems?
a. paper producers b. oil refineries c. food processors. d. apparel manufacturers
10. Which type of cost systems is best when trying to determine how to charge customers for their services?
a. product cost systems b. activity-based pricing systems c.
job cost systems d. multiple department cost systems
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