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Team 2
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15
×
The production cost of goods completed is transferred to the income statement when doing manufacturing accounts is this statement true or false?
True
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×
banana
Go to last place!
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×
seesaw
Swap points!
Okay!
×
shark
Other team loses 5 points!
Okay!
×
baam
Lose 15 points!
Oops!
15
×
What is a cost center? And give one example
Any part of a business where costs are absorbed. For example a K9 unit in a police station
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15
×
Administration expenses are found in the manufacturing account True or False?
False
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thief
Give points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
×
gift
Win 15 points!
Okay!
×
banana
Go to last place!
Oops!
15
×
Selling and distribution expenses are found under the income statement of a manufacturing organization True or False
True
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15
×
ALL Material costs belongs in the manufacturing account true or false?
True
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15
×
Where does royalties belong in the manufacturing account?
Under direct expenses
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15
×
Give the name of any 1 element of costs for a business
Material costs, Labor Costs or Expenses
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×
boom
Lose 50 points!
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×
shark
Other team loses 25 points!
Okay!
×
shark
Other team loses 25 points!
Okay!
×
baam
Lose 25 points!
Oops!
15
×
Depreciation on plant equipment, fuel and power, general factory expenses are all considered indirect manufacturing costs True or False?
True
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15
×
Define the term Work in Progress
Work that has not been completed in the previous period and therefore is the be completed in the future
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15
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A manager overseeing the work of the machine employees is considered a form of direct labor true or false?
False
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15
×
What is a unit cost?
All the cost included in making a single product
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15
×
If the total cost to produce 1000 Chairs was $100,000 what is the unit cost?
100,000 / 1000 =$100
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15
×
Financial Charges are found in the income statement of a manufacturing organization True or False?
True
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×
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