Accounting Mcqs
In an income statement, when costs become cost of sold goods and manufactured products are sold, such costs are

A. Inventoriable costs
B. Finished costs
C. Factory overhead costs
D. Manufacturing overhead costs

The terms used in manufacturing cost systems are ____________?

A. Manufacturing costs
B. Prime costs
C. Conversion costs
D. Both b and c

The labor related to the manufacturing of the product can be classified under _____________?

A. Direct manufacturing labor costs
B. Indirect manufacturing labor costs
C. Work in process cost
D. Finished costs

In cost terms, the direct manufacturing labor cost is included in ___________?

A. Manufacturing costs
B. Prime costs
C. Conversion costs
D. Both b and c

The direct manufacturing labor costs is added into manufacturing overhead cost to calculate ___________?

A. Transaction costs
B. Conversion costs
C. Resale costs
D. Merchandise costs

The wages paid to workers of the factory are termed as ___________?

A. Workers premium
B. Overtime premium
C. Factory premium
D. Wage premium