Question 1: Which of the following is not a prime cost?
a) Supervisor's wages
b) Direct labor wages
c) Machine operator wages
d) Assembly line wages
Question 2: What is the purpose of the Statement of Cost of Goods Manufactured?
a) to determine the ending materials inventory
b) to determine the ending work in process inventory
c) to determine the amounts transferred to finished goods
d) all of the answers are true
Question 3: All of the following are ways that managers use managerial information except ________.
a) to evaluate the company's stock performance
b) to evaluate the performance of a company's operations
c) to support long-term planning decisions
d) to determine the cost of manufacturing a product