Mod 46 Wrong Answers Flashcards
1
Q
Decrease in finished goods represents the amount of inventory that was…
Therefore this amount must be…
A
Sold in excess of inventory manufactured
Added to cost of goods manufactured
2
Q
The increase in raw materials inventory represents the amount of inventory…
Therefore, the increase of raw materials must…
A
Purchased but not used
2) be subtracted from raw materials purchased
3
Q
Prime cost
A
Prime cost = direct materials + direct labor
4
Q
The fixed portion of the semi variable cost of electricity for manufacturing is…
A
A product cost
5
Q
The only job still in process, so total costs charged to this job must equal…
A
Work in process
6
Q
Cost of jobs completed equation 4
A
Direct materials
+ manufacturing overhead applied
+ direct labor costs
= cost of jobs completed
