ACCT 212 Learnsmart Assignment 1 Liberty University Solution

All of the following are types of e-commerce

Activities such as selling and storing finished products are considered _________ activities.

Consider a company that manufactures automobiles. Which of the following costs would be considered direct labor?

A company began the year with $500 in raw materials and purchased $10,250 more during the year. If the company has $725 in raw materials at the end of the year, then they would report direct materials used of $ on the schedule of cost of goods manufactured.

Which of the following are the variable costs relative to number of units produced and sold? (Check all that apply.)

A company incurred manufacturing costs of $45,000. If the beginning balance in Work in process inventory is $10,000 and the ending balance is $15,000, then the cost of goods manufactured is $ .

Match the following activities to the appropriate managerial accounting trend.

Inventory which is completed but not yet sold by a manufacturer is known as

Direct and Indirect materials are known as

Consider the production department of a manufacturer of laptop computers. Classify the cost of the factory maintenance manager's salary. (Check all that apply.)

Which of the following are period costs for a manufacturer? (Check all that apply.)

List the following activities in the order in which they occur, with the first activity on top.

Those who work directly on the product to convert raw materials into a finished product are known as

A merchandising company usually has one inventory account while a manufacturing company usually has _________ inventory accounts.

Partially complete units are known as inventory.

Consider a company that manufactures picture frames. Which of the following costs would be considered direct costs?

A company reported Cost of Goods Manufactured of $55,000 on the manufacturing statement. If the beginning balance in Work in Process Inventory was $5,000 and the Total Manufacturing Costs were $60,000, then the ending balance in Work in Process Inventory is $ .

Each of the following are examples of factory overhead:

Match the activities on the with the activity type.

Drag each item into the appropriate category. Click on an item to send it to the back of the stack.

The inventory account used by manufacturing companies to record costs of completed products ready for sale is called:

A company incurred the following costs: $6,000 for indirect labor; $26,000 for direct labor; $2,500 for utilities for the factory building; $10,300 for factory equipment depreciation; $8,700 for office equipment depreciation. The total overhead costs reported on the schedule of cost goods manufactured is $ .

What types of information does managerial accounting provide? (Check all that apply):

List the items below in the correct order in which they would appear in the calculation of cost of goods sold for a manufacturing company.

Match the following characteristic to the type of accounting.

Drag each item into the appropriate category. Click on an item to send it to the back of the stack.

Which of the following are indirect costs for the finishing department of a furniture manufacturing plant?