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Question 3
Product costs are also called
Question 4
As current technology changes manufacturing processes, it is
likely that direct
Question 5
Sales commissions are classified as
Question 6
Dolan Company's accounting records reflect the following
inventories:
Dec. 31, 2017 Dec. 31, 2016
Raw materials inventory $310,000 $260,000
Work in process inventory 300,000 160,000
Finished goods inventory 190,000 150,000
During 2017, $800,000 of raw materials were purchased, direct
labor costs amounted to $670,000, and manufacturing overhead
incurred was $640,000.
If Dolan Company's cost of goods manufactured for 2017
amounted to $1,890,000, its cost of goods sold for the year is
Question 7
Property taxes on a manufacturing plant are an element of a
Product Cost Period Cost
Question 8