Exam 2: Management Accounting: Cost Terms and Concepts

Barrister and Company began July with a finished goods inventory of $10 000.The cost of goods manufactured during the month was $85 000 and the ending finished goods inventory was $20 000.The cost of goods sold during July was:

Indirect material,indirect labour and other manufacturing costs that are neither direct labour nor direct material costs are classified as:

Indirect materials include:

Refer to the following data.The period costs are:

As manufacturing companies become more automated,their cost structure will change so that:

In the manufacturing firm,inventories consist of:

Which of the following statements is true?

Work in process inventories are composed of:

Eldervale Winery is a producer of premium wine.Which of the following is an example of an upstream cost?

Indirect costs:

Choose the statement that best completes this sentence: 'Conventional management accounting focuses on …'

Product costs comprise:

Fixed costs: