MBA 608 Module 1 Questions With All Correct
Answers
The cost of manufacturing of product includes all of the following except:
A. Materials
B. Labor
C. Advertising
D. Overhead correct answer -C. Advertising
The cost of a small ammount of glue used to manugacture a product may be
called:
A. An overhead cost
B. A product cost
C. An indirect cost
D. All of the choices are terms that may be used to describe small quantities of
materials consumed in the process of making products correct answer -D.
All of the choices are terms that may be used to describe small quantities of
materials consumed in the process of making products
Which of the following described ther flow of product costs in a
manufacturing company?
A. Product costs are first accumulated in an asset account (Inventory) and
then transferred to an expense account (Cost of Goods Sold) when the
products are sold.
B. Product cost are first accumulated in an expense account (Cost of Goods
Sold) and then transferred to an asset account (Inventory) When the goods
are sold.
C. Product costs are recorded in an expense account (Cost of Goods Sold) as
the goods are being manufactured.
D. Product costs are never expensed. correct answer -A. Product costs are
first accumulated in an asset account (Inventory) and then transferred to an
expense account (Cost of Goods Sold) when the products are sold.
ManCo Manufacturing Company paid cash for wages of production workers.
Which of the following choices reflects how this event would affect the
Answers
The cost of manufacturing of product includes all of the following except:
A. Materials
B. Labor
C. Advertising
D. Overhead correct answer -C. Advertising
The cost of a small ammount of glue used to manugacture a product may be
called:
A. An overhead cost
B. A product cost
C. An indirect cost
D. All of the choices are terms that may be used to describe small quantities of
materials consumed in the process of making products correct answer -D.
All of the choices are terms that may be used to describe small quantities of
materials consumed in the process of making products
Which of the following described ther flow of product costs in a
manufacturing company?
A. Product costs are first accumulated in an asset account (Inventory) and
then transferred to an expense account (Cost of Goods Sold) when the
products are sold.
B. Product cost are first accumulated in an expense account (Cost of Goods
Sold) and then transferred to an asset account (Inventory) When the goods
are sold.
C. Product costs are recorded in an expense account (Cost of Goods Sold) as
the goods are being manufactured.
D. Product costs are never expensed. correct answer -A. Product costs are
first accumulated in an asset account (Inventory) and then transferred to an
expense account (Cost of Goods Sold) when the products are sold.
ManCo Manufacturing Company paid cash for wages of production workers.
Which of the following choices reflects how this event would affect the
