MGT201 Prelim Exam

MGT201 Prelim Exam

University

20 Qs

quiz-placeholder

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MGT201 Prelim Exam

MGT201 Prelim Exam

Assessment

Quiz

Business

University

Hard

Created by

Quen Ross

Used 7+ times

FREE Resource

20 questions

Show all answers

1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) When raw materials are issued into production the Raw Materials account is debited.

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) Manufacturing overhead account is debited for the actual overhead costs incurred.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) Finished Goods inventory account is credited for the amount of cost of goods manufactured during a period.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) When direct labor costs are incurred, Work in Process is debited.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) The cost in the ending Finished Goods inventory account consists of the direct materials, direct labor, and manufacturing overhead of all jobs still in process at the end of the period.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) Selling expenses are applied to production using a predetermined overhead rate.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

(True or False) Indirect materials are part of manufacturing overhead.

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