Question & Answer: Which of the following costs would not be classified as factory overhead? A. Property taxes on maintenance machinery……

which of the costs would not

heH & the following costs would not be classified as factory overhead? A. Property taxes on maintenance machinery. B. Expired insurance on factory equipment. C. Wages of the factory janitor. D. Metal doorknobs used on wood cabinets produced. 2. A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of 18,000, cost of goods manufactured of s32,000, and an ending finished goods inventory of 17,800. The cost of goods sold for this company is: A. s28,800. B. S29,300. C. $32,500. D. $47,100. ing information relates to the manufacturing operations of the IMH Publishing Corporation for The followi the year: 3· Raw materials inventory.57,000 $60,000 Finished good. 68,000 60,000 The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased during the year amount to: A. S107,000. B. S115,000. C. $121,000. D. $118,000. 4. Managerial accounting is different from financial accounting in that A. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on subdivisions of the organization. B. Managerial accounting never includes nonmonetary information. C. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum

Which of the following costs would not be classified as factory overhead? A. Property taxes on maintenance machinery. B. Expired insurance on factory equipment. C. Wages of the factory janitor. D. Metal doorknobs used on wood cabinets produced. A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of 18,000, cost of goods manufactured of $32,000, and an ending finished goods inventory of 17,800. The cost of goods sold for this company is: A. $28,800. B. $29,300. C. $32,500. D. $47,100. The following information relates to the manufacturing operations of the IMH Publishing Corporation for the year: The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased during the year amount to: A. $107,000. B. $115,000. C. $121,000. D. $118,000. Managerial accounting is different from financial accounting in that A. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on subdivisions of the organization. B. Managerial accounting never includes nonmonetary information. C. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum

Expert Answer

1.D.Metal door knobs on wood cabinets produced..(it is a direct material , rest all options are part of factory overhead).

2.A.$28,800.

(Cost of goods sold = beginning finished goods inventory + cost of goods manufactured – closing finished goods inventory)

=>(14,600 + 32,000 – 17,800 =>$28,800).

3.C.$121,000.

(raw material purchased = raw material used + ending inventory – beginning inventory)

=>$118,000 +60,000 – 57,000 =>$121,000)

4th question option D is not shown in the image.

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