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Conversion costs consist of: A) direct labor and manufacturing overhead. B) direct mater

Conversion costs consist of: A) direct labor and manufacturing overhead. B) direct mater

Conversion costs consist of:

A) direct labor and manufacturing overhead.

B) direct materials and direct labor.

C) direct materials and manufacturing overhead.

D) direct materials, direct labor and manufacturing overhead.

12) Which of the following is an example of direct labor?

A) Salary of a production manager

B) Salary of the vice-president of operations

C) Wages of assembly line personnel

D) Wages of factory security

13) Which statement describes direct materials in a manufacturing setting?

A) Direct materials are used to determine total inventoriable product costs.

B) Direct materials are used to determine total manufacturing overhead.

C) Direct materials cannot be separately and conveniently traced.

D) Direct materials do not become part of the finished product.

14) In a manufacturing plant, which is an example of indirect labor?

A) Chief operating officer

B) Machine operators

C) Plant managers

D) Salesmen

15) Which of the following are classified as manufacturing overhead?

A) Direct materials and direct labor

B) Indirect labor and indirect materials

C) All materials

D) Factory rent and direct labor

16) Which of the following is an example of overhead in a factory?

A) Wages of machine operators

B) Wages of factory maintenance personnel

C) Wages of administrators in the corporate office

D) Salaries of salespersons

17) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:

Depreciation on sales office

$11,000

Depreciation on factory equipment

$16,000

Factory supervisor salary

$52,500

Sales commissions

$23,000

Lubricants used in factory equipment

$3,000

Insurance costs for factory

$21,000

Wages paid to maintenance workers

$115,000

Fabric used to upholster furniture

$7,000

Freight-in (on raw materials)

$2,500

Costs of delivery to customers

$9,000

Wages paid to assembly-line workers

$132,500

Lumber used to build product

$72,000

Utilities in factory

$44,500

Utilities in sales office

$26,500

Prime costs for Comfy Furniture Company totaled:

A) $79,000.

B) $214,000.

C) $211,500.

D) $332,000.

18) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:

Depreciation on sales office

$11,000

Depreciation on factory equipment

$16,000

Factory supervisor salary

$52,500

Sales commissions

$23,000

Lubricants used in factory equipment

$3,000

Insurance costs for factory

$21,000

Wages paid to maintenance workers

$115,000

Fabric used to upholster furniture

$7,000

Freight-in (on raw materials)

$2,500

Costs of delivery to customers

$9,000

Wages paid to assembly-line workers

$132,500

Lumber used to build product

$72,000

Utilities in factory

$44,500

Utilities in sales office

$26,500

Conversion costs for Comfy Furniture Company totaled:

A) $319,500.

B) $460,500.

C) $214,000.

D) $384,500.

19) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:

Depreciation on sales office

$11,000

Depreciation on factory equipment

$16,000

Factory supervisor salary

$52,500

Sales commissions

$23,000

Lubricants used in factory equipment

$3,000

Insurance costs for factory

$21,000

Wages paid to maintenance workers

$115,000

Fabric used to upholster furniture

$7,000

Freight-in (on raw materials)

$2,500

Costs of delivery to customers

$9,000

Wages paid to assembly-line workers

$132,500

Lumber used to build product

$72,000

Utilities in factory

$44,500

Utilities in sales office

$26,500

Direct material costs for Comfy Furniture Company totaled:

A) $81,500.

B) $79,000.

C) $7,000.

D) $72,000.

20) Comfy Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include:

Depreciation on sales office

$11,000

Depreciation on factory equipment

$16,000

Factory supervisor salary

$52,500

Sales commissions

$23,000

Lubricants used in factory equipment

$3,000

Insurance costs for factory

$21,000

Wages paid to maintenance workers

$115,000

Fabric used to upholster furniture

$7,000

Freight-in (on raw materials)

$2,500

Costs of delivery to customers

$9,000

Wages paid to assembly-line workers

$132,500

Lumber used to build product

$72,000

Utilities in factory

$44,500

Utilities in sales office

$26,500

Direct labor costs for Comfy Furniture Company totaled:

A) $300,000.

B) $132,500.

C) $115,000.

D) $323,000.

Tripti 06-Dec-2019

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