A widely used activity base for developing factory overhead rates in highly automated settings is:
a. Direct labor hours
b. Direct labor dollars
c. Direct materials
d. Machine hours
Which of the following would be most likely to use process costing
a. A custom furniture manufacturer
b. An auto body repair shop
c. A law firm d. a lawn fertilizer manufacturer
Which of the following would most likely be a period cost?
a. Depreciation on factory lunchroom furniture
b. Salary of telephone receptionist in the sales office
c. Salary of a security guard for the factory parking lot
d. Computer chips used by a camputer manuacturer
Which of the following would most likely be a product cost?
a. Salary of VP of sales
b. Advertisting for a particular product
c. Drill bits for a drill press used in the plant assembly area
d. Salary of the company receptionist
Which of the following is most associated with financial accounting?
a. Can have both objective and subjective info
b. Can be prepared periodically or as needed
c. Prepared in accordance with GAAP
d. Can be prepared for the entity or segment
Which of the following is an example of derect materials cost for an automobile manufactuer?
a. Cost of oil lubricants for factory machinery
b. Cost of wages of assembly worker
c. Salary of prodcution supervisor
d. Cost of interior uphosltery