8. Which of the following costs are classified as a period cost? (a) Wages paid to a factory custodian. (b) Wages paid to a production department super- visor. (c) Wages paid to a cost accounting department supervisor. (d) Wages paid to an assembly worker. 9. For the year, Redder Company has cost of goods manu- factured of $600,000, beginning finished goods inventory of $200,000, and ending finished goods inventory of $250,000. The cost of goods sold is: (a) $450,000. (b) $500,000. (c) $550,000. (d) $600,000. 10. Cost of goods available for sale is a step in the calcu- lation of cost of goods sold of: (a) a merchandising company but not a manufac- turing company. (b) a manufacturing company but not a merchan- dising company. (c) a merchandising company and a manufacturing company. (d) neither a manufacturing company nor a mer- chandising company. 11. A cost of goods manufactured schedule shows begin- ning and ending inventories for: (a) raw materials and work in process only. (b) work in process only. (c) raw materials only. (d) raw materials, work in process, and finished goods.
Solution ID:10137738 | Question answered on 16-Oct-2016
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