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Total Questions : 79 | Page 6 of 8 pages
Question 51. The period cost, which consists the income statement of manufacturing companies belong to
  1.    inventory costs
  2.    product costs
  3.    non-manufacturing costs
  4.    manufacturing costs
 Discuss Question
Answer: Option C. -> non-manufacturing costs
Answer: (c).non-manufacturing costs
Question 52. The balance sheet, in which all the costs of the product that must be considered as its assets, is said to be
  1.    factory overhead costs
  2.    manufacturing overhead costs
  3.    Inventoriable costs
  4.    finished costs
 Discuss Question
Answer: Option C. -> Inventoriable costs
Answer: (c).Inventoriable costs
Question 53. The direct material cost is $75000 and direct manufacturing labor is $20000, then prime cost would be
  1.    $55,000
  2.    $37,500
  3.    $95,000
  4.    $26,000
 Discuss Question
Answer: Option C. -> $95,000
Answer: (c).$95,000
Question 54. An inventory, which consists of partially worked goods is called
  1.    direct materials inventory
  2.    work in process inventory
  3.    finished goods inventory
  4.    indirect material inventory
 Discuss Question
Answer: Option B. -> work in process inventory
Answer: (b).work in process inventory
Question 55. If the direct material cost is $85000 and direct manufacturing labor is $25000, then prime cost would be
  1.    $13,500
  2.    $55,600
  3.    $60,000
  4.    $110,000
 Discuss Question
Answer: Option D. -> $110,000
Answer: (d).$110,000
Question 56. In costing of project, the wages paid to workers for the unproductive work at the time of material shortage is termed as
  1.    indirect wages
  2.    health wages
  3.    idle time wages
  4.    shortage time wages
 Discuss Question
Answer: Option C. -> idle time wages
Answer: (c).idle time wages
Question 57. The conversion cost is subtracted from direct manufacturing labor cost to calculate the
  1.    direct overheads
  2.    overhead costs
  3.    factory overhead
  4.    manufacturing overhead cost
 Discuss Question
Answer: Option D. -> manufacturing overhead cost
Answer: (d).manufacturing overhead cost
Question 58. An inward delivery charges and custom duties are classified as
  1.    direct labor costs
  2.    indirect labor costs
  3.    direct material costs
  4.    indirect material costs
 Discuss Question
Answer: Option C. -> direct material costs
Answer: (c).direct material costs
Question 59. The supplies, plant maintenance, plant rent, plant insurance and cleaning labor come under the type of costs called
  1.    labor costs
  2.    factory overhead costs
  3.    finished costs
  4.    manufacturing costs
 Discuss Question
Answer: Option B. -> factory overhead costs
Answer: (b).factory overhead costs
Question 60. The manager who is responsible for investments of the company, its costs and revenues is known as
  1.    profit center
  2.    investment center
  3.    cost center
  4.    revenue center
 Discuss Question
Answer: Option B. -> investment center
Answer: (b).investment center

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