counting 4B Chapters 14&15 V2 ning finished goods is added to cost of goods manu
ID: 2328985 • Letter: C
Question
counting 4B Chapters 14&15 V2 ning finished goods is added to cost of goods manufactured to get a) Net sales b) Cost of goods sold c) Operating expenses d) Cost of goods available for sale e) None of the above 24. The manufacturing schedule contains information inte intended to be used by a) b) c) d) e) external users such as investors and creditors. internal users because company management only both external all of the above are true. it is one of the basic general purpose financial statements. I and internal personnel because it is prepared in accordance with GAAP Direct and indirect costs are considered to be under what classification? a) Behavior b) Function c) Traceability d) Relevance e) Controllability 25.Explanation / Answer
23) option d) cost of goods available for sale
explanation : cost of goods available for sale represents all items completed and ready to sell during the period.It is calculated as
Cost of goods available for sale =
Beginning finished goods +Cost of goods manufactured .
24) option b) internal users because it is one of the basic general purpose financial statements
explanation :manufacturing schedule contains manufacturing information when to produce and how much to produce per day or per week or per month
It was prepared through master production schedule. Generally all these informations are belongs to internal users.
25) option C) traceability
Explanation : according to the traceability costs are categorized into two types direct and indirect costs. Direct costs are directly assigned to particular cost object. Indirect costs are not directed traceable to particular cost object.
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