Discussion Points - Manufacturing accounts
Authored by Shauna-Kay Herah
Business
12th Grade
Used 5+ times
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6 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the formula for Prime Costs?
Direct Materials + Direct Labour + Factory overheads
Direct Materials + Direct Labour + Direct Expenses
Direct materials + Factory overheads
Direct Materials + Direct Labour + Factory overheads + Opening WIP - Closin WIP
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Total manufacturing costs =
Direct Materials + Direct Labour + Factory overheads
Direct Materials + Direct Labour + Direct Expenses
Direct materials + Factory overheads
Direct Labour + Factory overheads
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Selling and Administrative expenses are examples of direct expenses
TRUE
FALSE
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the formula for COGS in a manufacturing company?
Cost of production + Opening WIP - Closing WIP
Cost of production - Opening WIP +Closing WIP
Opening Finished goods inventory - Cost of production for completed units - closing finished goods inventory
Opening Finished goods inventory + Cost of production for completed units - closing finished goods inventory
5.
FILL IN THE BLANK QUESTION
45 sec • 1 pt
Total production cost for completed pencils is $582,000. 6000 units of pencils were produced, how much is the manufacturing cost per unit?
(a)
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
What is the formula for the cost of production for completed units?
Direct Materials + Direct Labour + Factory overheads
Direct Materials + Direct Labour + Direct Expenses
Direct materials + Factory overheads
Direct Materials + Direct Labour + Factory overheads + Opening WIP - Closin WIP
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