Depreciation changes for September totalled $15,000($10,000 for production equipment, $3000 for factory computers and printer, $2000 for sales computers and printers) what is the journal entry to record this?
a) Raw material costs are recognize in the income statement when: 1) material cost are paid for, 2) material costs are incurred, 3)products are completed, 4) product are sold
b) Roughriders manufacture custom-made motorcycles. they incur high telephone costs taking sales orders from customers. Which of the following is a proper classification of their telephone expernse: 1) product cost, 2) period cost, 3) conversion cost, 4) prime cost?
c) The journal entry to apply manufacturing overhead includes credit to : a) Raw material, b) work in process, c) finish good, d) Manufacturing over head, e) cost of good sold
d) What is the total product cost? DM used 145,000, Factory supervisor's salaries 6,000, direct wages 205,000, sales office rent and utilities 22,000, Factory equipment depreciation 35,000, Secretary to the chief executive officers salary 4000, Factory insurance 15,000
e) In traditional costing system, what is the appropriate entry if the direct material of 20,000 and indirect material of 3,000 are sent to manufacturing plant floor?
f) Which of the following cost is considered inventorial cost in manufacturing company: 1) salary of the company President, 2) depreciation on assembly equipment, 3) Salaries of the factory worker, 3) rent on the finished good, 4) Property tax on the factory building