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Multiple Choice Quiz
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1
Consider the following:

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Which line of the schedule is incorrect?
A)Line A
B)Line B
C)Line C
D)Line D
2
Which of the following is a manufacturing cost?
A)Direct material
B)Direct labor
C)Manufacturing overhead
D)All of the above
3
Which of the following is a prime cost?
A)Direct materials
B)Direct labor
C)Manufacturing overhead
D)Both (A) and (B)
4
Which of the following is a conversion cost?
A)Direct materials
B)Direct labor
C)Manufacturing overhead
D)Both (B) and (C)
5
Which of the following inventories is classified as a current asset in the balance sheet?
A)Finished goods inventory
B)Work in process inventory
C)Direct materials inventory
D)All of the above
6
Which of the following journal entries is used to purchase direct materials when using a perpetual inventory system?
A)Materials Inventory, debit, and Accounts Payable, credit
B)Purchases, debit, and Accounts Payable, credit
C)Purchases, debit, and Cash, credit
D)Materials Inventory, debit, and Work in Process, credit
7
Consider the following costs:

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What is the total dollar amount of the costs to be debited to the Manufacturing Overhead account?
A)$ 80,000
B)$ 96,000
C)$ 16,000
D)$150,000
8
In the manufacture of wood rocking horses in a toy manufacturing plant that specializes in the production of wood toys, which of the following is most likely to be classified as indirect materials?
A)Plywood used for the rockers, saddle, and head.
B)Glue to secure the saddle to the rockers.
C)Cleaning compounds to remove excess glue from the rocking horse.
D)Both (B) and (C).
9
Manufacturing overhead costs are $450,000, direct labor is $120,000, and direct materials used were $80,000. The beginning and ending balances of the Work in Process Inventory account were zero. If 100,000 units of product were transferred to the Finished Goods Inventory account, what was the per-unit cost of the products?
A)$4.50
B)$1.20
C)$6.50
D)$5.70
10
Consider the following:

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What is the cost of finished goods manufactured?
A)$698,000
B)$722,000
C)$688,000
D)$700,000





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