1. Which of the following are period costs? (Points : 1) current assets on the balance sheet costs incurred and expensed in the accounting period costs related to the sale of products current liabilities on the balance sheet

2. Which of the following could be found on the income statement of a service company? (Points : 1) building rent expense cost of goods manufactured cost of goods sold sales revenue

  3. Which of the following costs would appear on the income statements for both a merchandiser and a manufacturer? (Points : 1) direct labor incurred cost of goods manufactured direct materials used operating expenses

 4. A merchandiser's purchases are equivalent to what for a manufacturer? (Points : 1) materials inventory cost of goods manufactured work in process inventory cost of goods sold

 5. Which of the following is an example of direct labor? (Points : 1) wages of assembly line personnel salary of vice president of production wages of factory security salary of production manager

 6. Which of the following would be debited to record the requisition of direct materials? (Points : 1) materials inventory work in process inventory finished goods inventory cost of goods manufactured

 7. Which of the following would be debited to assign the costs of indirect labor? (Points : 1) manufacturing overhead wages payable finished goods inventory work in process inventory

 8. Which of the following would be credited to accumulate the actual labor costs incurred? (Points : 1) manufacturing overhead work in process inventory manufacturing wages wages payable

 9. Direct materials flow directly into what account? (Points : 1) cost of goods sold finished goods inventory manufacturing overhead work in process inventory

 10. In a process costing system, direct labor and manufacturing overhead are normally incurred when? (Points : 1) in full at the beginning of the process at the end of the process not recorded evenly throughout the process

 11. Which of the following is unique to a process costing system? (Points : 1) The costs for each process stay with that process until the products are completed and moved to Finished Goods Inventory Direct materials, direct labor, and manufacturing overhead are assigned to the first process only Each process has its own separate Work in Process Inventory account Work is not started on a product until an order has been received

 12. In a process costing system, the entry to record the use of direct materials in production would include which of the following? (Points : 1) debit to finished goods inventory credit to finished goods inventory debit to work in process inventory debit to materials inventory

 13. The entry to record a $24,000 transfer from the assembly department to the finishing department would include which of the following? (Points : 1) credit to work in process inventory-assembly debit to finished goods inventory credit to materials inventory debit to work in process inventory-assembly

 14. For which of the following are equivalent unit calculations prepared? (Points : 1) neither direct materials nor conversion costs both direct materials and direct labor costs both direct labor and manufacturing overhead costs both direct materials and conversion costs