Manufacturing Accounts | Baamboozle - Baamboozle

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15

Where does royalties belong in the manufacturing account?

Under direct expenses

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15

What is 1 objective of costing?

helps in decision making, controlling expenditure or planning and budgeting for the future

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15

Administration expenses are found in the manufacturing account True or False?

False

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15

The production cost of goods completed is transferred to the income statement when doing manufacturing accounts is this statement true or false?

True

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15

Depreciation on plant equipment, fuel and power, general factory expenses are all considered indirect manufacturing costs True or False?

True

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15

A manager overseeing the work of the machine employees is considered a form of direct labor true or false?

False

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15

Selling and distribution expenses are found under the income statement of a manufacturing organization True or False

True

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15

Carriage outwards is part of the manufacturing costs of an organization True or False?

False

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15

What is a cost center? And give one example

Any part of a business where costs are absorbed. For example a K9 unit in a police station

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15

If the total cost to produce 1000 Chairs was $100,000 what is the unit cost?

100,000 / 1000 =$100

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15

Define the term Work in Progress

Work that has not been completed in the previous period and therefore is the be completed in the future

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15

Financial Charges are found in the income statement of a manufacturing organization True or False?

True

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