Question : 31. Materials that can be directly traced to a particular product : 1291661

 

31. Materials that can be directly traced to a particular product and become an integral part of the finished product are called: A. indirect materials.B. direct materials.C. supplies.D. product materials.

 

32. When nonmanufacturing costs are subtracted from gross margin, the result is called: A. cost of goods sold.B. net operating income.C. sales.D. nonmanufacturing income.

 

33. Michael’s Manufacturing, Inc.Michael’s Manufacturing, Inc. has the following information available for the month of July: 

 Beginning Ending

Raw materials inventory$40,000 $  62,000

Work-in-process inventory85,000 45,000

Finished goods inventory20,000 37,000

    

Raw materials purchased  $150,000

Direct labor costs  50,000

Overhead costs  45,000

Refer to the Michael’s Manufacturing, Inc. information above. Raw materials used for July is: A. $150,000B. $128,000C. $190,000D. $172,000

 

34. Michael’s Manufacturing, Inc.Michael’s Manufacturing, Inc. has the following information available for the month of July: 

 Beginning Ending

Raw materials inventory$40,000 $  62,000

Work-in-process inventory85,000 45,000

Finished goods inventory20,000 37,000

    

Raw materials purchased  $150,000

Direct labor costs  50,000

Overhead costs  45,000

Refer to the Michael’s Manufacturing, Inc. information above. Cost of goods manufactured for July is: A. $183,000B. $206,000C. $263,000D. $223,000

 

35. Michael’s Manufacturing, Inc.Michael’s Manufacturing, Inc. has the following information available for the month of July: 

 Beginning Ending

Raw materials inventory$40,000 $  62,000

Work-in-process inventory85,000 45,000

Finished goods inventory20,000 37,000

    

Raw materials purchased  $150,000

Direct labor costs  50,000

Overhead costs  45,000

Refer to the Michael’s Manufacturing, Inc. information above. Cost of goods sold for July is: A. $246,000B. $206,000C. $280,000D. $263,000

 

36. Nate’s Novelties, Inc.Nate’s Novelties, Inc. has the following information available for July: 

 Beginning Ending

Raw materials inventory$12,000 $  9,000

Work-in-process inventory35,000 20,000

Finished goods inventory20,000 44,000

    

Raw materials purchased  $25,000

Direct labor costs  55,000

Overhead costs  35,000

Refer to the Nate’s Novelties, Inc. information above. Raw materials used for July is: A. $21,000.B. $22,000.C. $25,000.D. $28,000.

 

37. Nate’s Novelties, Inc.Nate’s Novelties, Inc. has the following information available for July: 

 Beginning Ending

Raw materials inventory$12,000 $  9,000

Work-in-process inventory35,000 20,000

Finished goods inventory20,000 44,000

    

Raw materials purchased  $25,000

Direct labor costs  55,000

Overhead costs  35,000

Refer to the Nate’s Novelties, Inc. information above. Cost of goods manufactured for July is: A. $153,000.B. $103,000.C. $130,000.D. $133,000.

 

38. Nate’s Novelties, Inc.Nate’s Novelties, Inc. has the following information available for July: 

 Beginning Ending

Raw materials inventory$12,000 $  9,000

Work-in-process inventory35,000 20,000

Finished goods inventory20,000 44,000

    

Raw materials purchased  $25,000

Direct labor costs  55,000

Overhead costs  35,000

Refer to the Nate’s Novelties, Inc. information above. Cost of goods sold for July is: A. $106,000.B. $157,000.C. $129,000.D. $109,000.

 

39. Thompson Inc. has the following selected information available for 2011: 

Cost of goods manufactured$220,000

Cost of goods sold150,000

Direct labor costs incurred65,000

Raw material purchased90,000

Raw material used100,000

  

Beginning work in process23000

Ending work in process11000

Manufacturing overhead costs in 2011 amounted to: A. $67,000.B. $55,000.C. $43,000.D. $53,000.

 

40. Products and their costs flow through a production facility in the following order: A. work in process, finished goods, cost of goods soldB. raw materials, work in process, finished goods, cost of goods soldC. work in process, raw materials, cost of goods sold, finished goodsD. work-in-process, cost of goods manufactured, cost of goods sold

 

 

 

 

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more