Direct Costs, Indirect Costs, & Manufacturing Overhead - CPA Auditing and Attestation (AUD)
Card 0 of 24
Of the following, which would be not included as period expenses?
Of the following, which would be not included as period expenses?
Normal spoilage is an inventory cost rather than a period cost.
Normal spoilage is an inventory cost rather than a period cost.
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If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
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Which of the following costs includes all the product costs?
Which of the following costs includes all the product costs?
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Compare your answer with the correct one above
Which of the following best describes direct labor?
Which of the following best describes direct labor?
Direct labor is a prime cost, a conversion costs, and a product cost.
Direct labor is a prime cost, a conversion costs, and a product cost.
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Which of the following is assigned to goods that were either purchased or manufactured for resale?
Which of the following is assigned to goods that were either purchased or manufactured for resale?
Product cost is assigned to goods that were either purchased or manufactured for resale.
Product cost is assigned to goods that were either purchased or manufactured for resale.
Compare your answer with the correct one above
Conversion costs do not include:
Conversion costs do not include:
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Compare your answer with the correct one above
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Compare your answer with the correct one above
Which of the following costs includes all the product costs?
Which of the following costs includes all the product costs?
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Compare your answer with the correct one above
Which of the following best describes direct labor?
Which of the following best describes direct labor?
Direct labor is a prime cost, a conversion costs, and a product cost.
Direct labor is a prime cost, a conversion costs, and a product cost.
Compare your answer with the correct one above
Which of the following is assigned to goods that were either purchased or manufactured for resale?
Which of the following is assigned to goods that were either purchased or manufactured for resale?
Product cost is assigned to goods that were either purchased or manufactured for resale.
Product cost is assigned to goods that were either purchased or manufactured for resale.
Compare your answer with the correct one above
Conversion costs do not include:
Conversion costs do not include:
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Compare your answer with the correct one above
Of the following, which would be not included as period expenses?
Of the following, which would be not included as period expenses?
Normal spoilage is an inventory cost rather than a period cost.
Normal spoilage is an inventory cost rather than a period cost.
Compare your answer with the correct one above
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Compare your answer with the correct one above
Which of the following costs includes all the product costs?
Which of the following costs includes all the product costs?
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Compare your answer with the correct one above
Which of the following best describes direct labor?
Which of the following best describes direct labor?
Direct labor is a prime cost, a conversion costs, and a product cost.
Direct labor is a prime cost, a conversion costs, and a product cost.
Compare your answer with the correct one above
Which of the following is assigned to goods that were either purchased or manufactured for resale?
Which of the following is assigned to goods that were either purchased or manufactured for resale?
Product cost is assigned to goods that were either purchased or manufactured for resale.
Product cost is assigned to goods that were either purchased or manufactured for resale.
Compare your answer with the correct one above
Conversion costs do not include:
Conversion costs do not include:
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Conversion costs consist of direct labor and overhead. Thus, conversion costs include all product costs except direct materials.
Compare your answer with the correct one above
Of the following, which would be not included as period expenses?
Of the following, which would be not included as period expenses?
Normal spoilage is an inventory cost rather than a period cost.
Normal spoilage is an inventory cost rather than a period cost.
Compare your answer with the correct one above
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
If a product required a great deal of electricity to produce, and crude oil prices increased, which of the following costs most likely increased?
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Conversion costs include both direct labor and overhead. Increases in crude oil prices are likely to impact the costs of generating electricity which is significant in manufacturing costs.
Compare your answer with the correct one above
Which of the following costs includes all the product costs?
Which of the following costs includes all the product costs?
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Product costs consist of direct materials, direct labor, and factory overhead. Materials and labor together are prime costs, while labor and overhead are conversion costs. Direct materials and conversion costs together are product costs.
Compare your answer with the correct one above