Bundle

University of Louisiana, Lafayette ACCT 526 / ACCT526 Quiz 1 - 7; Mid-Term Exam Latest Updated 2022 All Graded A+

ACCT526-820_020-201840Started onSunday, 18 March 2018, 7:32 PMStateFinishedCompleted onSunday, 18 March 2018, 7:37 PMTime taken4 mins 58 secsGrade10.00out of 10.00 (100%) 1Question CorrectMark 2.00 o... ut of 2.00Flag questionQuestion textEach of the following statements may (or may not) describe one of these technical terms. Match each term with its definition. If the statement does not correctly describe any of the terms, select "None." Answer 1The work of factory employees that can be Direct laborphysically and conveniently associated with converting raw materials into finished goods.Answer 2Work of factory employees that has no physical Indirect laborassociation with the finished product, or it is impractical to trace the costs to the goods produced.Answer 3NoneManufacturing costs that are indirectly associated with the manufacture of the finished product.Costs that are matched with the revenue of a Answer 4 Period costsspecific time period and charged to expense as incurred. Answer 5Product costsCosts that are a necessary and integral part of producing the finished product.Answer 6 Managerial accounting Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. A field of accounting that provides economic and financial information for internal users. FeedbackYour answer is correct.The correct answer is: The work of factory employees that can be physically and conveniently associated with converting raw materials into finished goods. - Direct labor, Work of factory employees that has no physical association with the finished product, or it is impractical to trace the costs to the goods produced. - Indirect labor, Manufacturing costs that are indirectly associated with the manufacture of the finished product. - None, Costs that are matched with the revenue of a specific time period and charged to expense as incurred. - Period costs, Costs that are a necessaryand integral part of producing the finished product. - Product costs, A field of accounting that provides economic and financial information for internal users. - Managerial accounting Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. 2Question CorrectMark 2.00 out of 2.00Flag questionQuestion textIndicate how each of the following costs should be classified: Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. Answer 1Salary paid to mechanics who maintain and Manufacturing overheadrepair factory equipment.AdvertisingAnswer 2Period cost Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. Answer 3Manufacturing overheadRent on factory equipment.Answer 4Period costUtility cost for the storeAnswer 5Direct materialsPeriod costDirect laborPeriod costManufacturing overhead Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. Rubber latex purchased for the use in the manufacture of automobile tires. Answer 6Supplies for the general office.Answer 7Wages paid to assembly-line workers who install interiors in automobiles.Answer 8Salary paid to the company's chief executive officer. Answer 9Factory supervisor's salaryFeedbackYour answer is correct.The correct answer is: Salary paid to mechanics who maintain and repair factory equipment. - Manufacturing overhead, Advertising - Period cost, Rent on factory equipment. - Manufacturing overhead, Utility cost for the store - Period cost, Rubber latex purchased for the use in the manufacture of automobile tires. - Direct materials, Supplies for the general office. - Period cost, Wages paid to assembly-line workers who install interiors in automobiles. - Direct labor, Salary paid to the company's chief executive officer. - Period cost, Factory supervisor's salary - Manufacturing overhead Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. 3 Question Need the answer? 5819 tutors online. Answers in as fast as 15 minutes. Correct [Show More]

Last updated: 2 years ago

Bundle contains 9 items