Manufacturing Cost

Factory insurance is considered to be a

• Manufacturing overhead costs

• Prime costs

• Administrative costs

• Operating income

Prime costs are made up of

• Raw materials costs + Direct labour costs

• Direct labour costs + Indirect labour costs

• Manufacturing overhead + Administrative costs

• Selling and distribution costs + Administrative costs

Summarize the cost of direct materials, direct labor and manufacturing overhead incurred in producing the goods.

• Manufacturing costs

• Manufacturing overhead

• Cost of goods manufactured

• Cost of goods sold

It is the cost of products being processed and not yet completed at end of period.

• Finished goods

• Work in process

• Raw materials

• Manufacturing overhead

• Supplies expenses

It is the cost of products that have been completed and are waiting to be sold to customers.

• Finished goods

• Work in process

• Cost of goods sold

• Raw materials

• Manufacturing cost

Depreciation office furniture is considered to be a

• Administrative costs

• Selling and distribution costs

• Manufacturing overhead costs

• Asset

It is expired costs with producing any revenue benefit.

• Cost

• Losses

• Expenses

• Income

Direct labor + Manufacturing overhead

• Conversion cost

• Prime cost

• Manufacturing cost

• None of the answer

Also known as non-manufacturing cost

• Product cost

• Period cost

• Inventoriable cost

• Manufacturing cost

What are fixed cost?

• Cost that change from week to week or month to month

• The amount of money in bank account

• The amount of cash in purse or wallet

• Cost that stay the same from week to week or month to month