Manufacturing costs

Manufacturing costs

University

8 Qs

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Manufacturing costs

Manufacturing costs

Assessment

Quiz

Business, Specialty, Other

University

Medium

Created by

Laura Caballero

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8 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

What are product costs?

Costs assigned to the manufacture of products and recognized when sold.

Costs not identified on the product.

Costs mixed between sales and other expenses.

2.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These costs can be identified with units (or batches of units) at a relatively low cost.

Sales expenses

COGS

Direct manufacturing costs

Indirect manufacturing costs

3.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These are all other product costs. These costs are more complicated to identified through units or batches of units.

Direct costs

All product costs

Indirect manufacturing costs

4.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These are also know as "raw materials". They can be feasibly identified, directly and at relatively low cost, with the product.

Direct materials

Inventory

Purchases

5.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These workers transform the direct materials into a finished product.

Direct labor

Worker bees

Minions

6.

MULTIPLE SELECT QUESTION

20 sec • 1 pt

These are all other costs of transforming the materials into a finished product.

Manufacturing overhead

All expenses

Marketing expenses

7.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

The sum of Direct materials and direct labor is known as

8.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The sum of direct labor and manufacturing overhead is known as