171) Which of the following costs are referred to as conversion costs? a. Direct

Question

171) Which of the following costs are referred to as conversion costs?
a. Direct materials cost and direct labor cost
b. Direct labor cost and factory overhead cost
c. Direct materials cost and factory overhead cost
d. Factory overhead cost

172) Conversion costs consist of product costs and period costs.
a. true
b. false

173) Which of the following is an example of direct labor cost for an airplane manufacturer?
a. Cost of jet engines
b. Cost of wages of assembly worker
c. Salary of plant supervisor
d. Cost of oil lubricants for factory machinery


174) Indirect labor would be included in factory overhead.
a. true
b. false

175) The cost of wages paid to employees directly involved in the manufacturing process in converting materials into finished product is classified as:
a. direct labor cost
b. wages expense
c. direct materials cost
d. factory overhead cost

Explanation / Answer

171.c 172.true 173.c 174.true 175. b

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