Question 1

Wages paid to the factory maintenance and repair personnel of a manufacturing business are shown

Accepted Answer

A)   in the Operating Expenses section of the income statement.
B)   as Direct Labor on the statement of cost goods manufactured.
C)   as part of Manufacturing Overhead on the statement cost of goods manufactured.
D)   as a part of the Cost of Goods Sold section of the income statement.E) B) and D)
F) B) and C)

Question 2

The beginning inventory of raw materials is shown in the Income Statement Credit column and the Balance Sheet Debit column of a worksheet for a manufacturing business.

Accepted Answer

A) True 
 B)False

Question 3

Organizations that utilize the perpetual inventory method record additions and deletions

Accepted Answer

A)   daily.
B)   monthly.
C)   quarterly.
D)   yearly.E) A) and C)
F) A) and D)

Question 4

The ending inventory of raw materials is shown on the worksheet of a manufacturing business in the Cost of Goods Manufactured ____________________ column.

Accepted Answer

The answer of The ending inventory of raw materials is...

Question 5

If there are no errors, the amount needed to balance the Cost of Goods Manufactured columns of a worksheet will also be the amount required to balance the Balance Sheet columns.

Accepted Answer

A) True 
 B)False

Question 6

The cost of goods manufactured for a fiscal period is reported on

Accepted Answer

A)   both the statement of cost of goods manufactured and the income statement.
B)   both the statement of the cost of goods manufactured and the balance sheet.
C)   both the income statement and the balance sheet.
D)   the statement of cost of goods manufactured only.E) All of the above
F) None of the above

Question 7

In a manufacturing company, it is not necessary to take a physical inventory of the finished goods.

Accepted Answer

A) True 
 B)False

Question 8

-The above listed items are used by Paige Manufacturing to make dollhouses. Categorize each as Direct Materials (DM), Direct Labor (DL), or Manufacturing Overhead (MOH).

Accepted Answer

1. DM; 2. MOH; 3. DM...

Question 9

Cleaning materials and lubricants used in factory operations and maintenance are considered manufacturing overhead.

Accepted Answer

A) True 
 B)False

Exam 26: Accounting for Manufacturing Activities

The beginning inventory of raw materials is shown in the Income Statement Credit column and the Balance Sheet Debit column of a worksheet for a manufacturing business.

Correct Answer
verified

Organizations that utilize the perpetual inventory method record additions and deletions

Correct Answer
verified

Wages paid to the factory maintenance and repair personnel of a manufacturing business are shown

Correct Answer
verified

If there are no errors, the amount needed to balance the Cost of Goods Manufactured columns of a worksheet will also be the amount required to balance the Balance Sheet columns.

Correct Answer
verified

-The above listed items are used by Paige Manufacturing to make dollhouses. Categorize each as Direct Materials (DM), Direct Labor (DL), or Manufacturing Overhead (MOH).

Correct Answer
verified
1. DM; 2. MOH; 3. DM...
View Answer

The ending inventory of raw materials is shown on the worksheet of a manufacturing business in the Cost of Goods Manufactured ____________________ column.

Correct Answer
verified

Cleaning materials and lubricants used in factory operations and maintenance are considered manufacturing overhead.

Correct Answer
verified

In a manufacturing company, it is not necessary to take a physical inventory of the finished goods.

Correct Answer
verified

The cost of goods manufactured for a fiscal period is reported on

Correct Answer
verified

Exam 26: Accounting for Manufacturing Activities

The beginning inventory of raw materials is shown in the Income Statement Credit column and the Balance Sheet Debit column of a worksheet for a manufacturing business.

Correct AnswerverifiedShow Answer

Organizations that utilize the perpetual inventory method record additions and deletions

Correct AnswerverifiedShow Answer

Wages paid to the factory maintenance and repair personnel of a manufacturing business are shown

Correct AnswerverifiedShow Answer

If there are no errors, the amount needed to balance the Cost of Goods Manufactured columns of a worksheet will also be the amount required to balance the Balance Sheet columns.

Correct AnswerverifiedShow Answer

-The above listed items are used by Paige Manufacturing to make dollhouses. Categorize each as Direct Materials (DM), Direct Labor (DL), or Manufacturing Overhead (MOH).

Correct Answerverified1. DM; 2. MOH; 3. DM...View AnswerShow Answer

The ending inventory of raw materials is shown on the worksheet of a manufacturing business in the Cost of Goods Manufactured ____________________ column.

Correct AnswerverifiedShow Answer

Cleaning materials and lubricants used in factory operations and maintenance are considered manufacturing overhead.

Correct AnswerverifiedShow Answer

In a manufacturing company, it is not necessary to take a physical inventory of the finished goods.

Correct AnswerverifiedShow Answer

The cost of goods manufactured for a fiscal period is reported on

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
1. DM; 2. MOH; 3. DM...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified