Question : 101. All of the following examples of activity bases except: A. salaries of : 1239424

101. All of the following are examples of activity bases except: 
A. salaries of supervisors
B. quality inspections of products
C. number of machine setups
D. raw materials storage

102. Materials purchased on account during the month amounted to $180,000. Materials requisitioned and placed in production totaled $165,000. From the following, select the entry to record the transaction on the day the materials were bought. 
A. Materials                             165,000
  Accounts Payable                                   165,000
B. Materials                             180,000
  Accounts Payable                                   180,000
C. Materials                             180,000
  Cash                                                       180,000
D. Accounts Payable                180,000
  Materials                                                180,000

103. Materials purchased on account during the month amounted to $180,000. Materials requisitioned and placed in production totaled $165,000. From the following, select the entry to record the transaction on the day the materials were requisitioned by the production department. 
A. Materials                             165,000
  Work in Process                                     165,000
B. Work in Process                  180,000
  Materials                                                180,000
C. Work in Process                  165,000
  Materials                                                165,000
D. Work in Process                  165,000
  Cash                                                       165,000

104. During the period, labor costs incurred on account amounted to $275,000 including $200,000 for production orders and $75,000 for general factory use. In addition, factory overhead charged to production was $32,000. From the following, select the entry to record the direct labor costs. 
A. Work in Process                  200,000
   Wages Payable                                       200,000
B. Work in Process                  275,000
   Wages Payable                                       275,000
C. Wages Payable                   275,000
  Work in Process                                       275,000
D. Wages Payable                    200,000
  Work in Process                                     200,000

105. During the period, labor costs incurred on account amounted to $275,000 including $200,000 for production orders and $75,000 for general factory use. In addition, factory overhead applied to production was $32,000. From the following, select the entry to record the actual factory overhead costs incurred. 
A. Accounts Payable                  75,000
  Factory Overhead                                     75,000
B. Factory Overhead                  32,000
  Accounts Payable                                     32,000
C. Work in Process                     75,000
  Wages Payable                                         75,000
D. Factory Overhead                   75,000
  Wages Payable                                         75,000

106. During the period, labor costs incurred on account amounted to $275,000 including $200,000 for production orders and $75,000 for general factory use. In addition, factory overhead applied to production was $32,000. From the following, select the entry to record the factory overhead applied to production. 
A. Work in Process                     75,000
  Factory Overhead                                     75,000
B. Factory Overhead                   32,000
  Work in Process                                       32,000
C. Work in Process                     32,000
  Factory Overhead                                     32,000
D. Factory Overhead                   75,000
  Accounts Payable                                     75,000

107. The cost of production of completed and finished goods during the period amounted to $450,000, and the finished products shipped to customers had total production costs of $357,000. From the following, select the entry to record the transfer of costs from work in process to finished goods. 
A. Finished Goods                    357,000
  Work in Process                                     357,000
B. Finished Goods                    450,000
  Work in Process                                     450,000
C. Work in Process                  450,000
  Finished Goods                                     450,000
D. Work in Process                  357,000
  Finished Goods                                     357,000

108. The cost of production of completed and finished goods during the period amounted to $450,000, and the finished products shipped to customers had total production costs of $357,000. From the following, select the entry to record the transfer of costs from finished goods to cost of goods sold. 
A. Finished Goods                    450,000
  Cost of Goods Sold                              450,000
B. Finished Goods                    357,000
  Cost of Goods Sold                              357,000
C. Cost of Goods Sold             357,000
  Finished Goods                                     357,000
D. Cost of Goods Sold             450,000
  Finished Goods                                     450,000

109. Costs that are used in generating revenues during the current period, but are not involved in the manufacturing process are often referred to as: 
A. period costs
B. conversion costs
C. factory overhead costs
D. product costs

110. Costs that are treated as assets until the product is sold are called: 
A. product costs
B. period costs
C. conversion costs
D. selling expenses