Inventory Types, Inventoriable Cost and Period Cost Multiple Choice Questions (MCQ) PDF Download

MCQ 1: The labor related to the manufacturing of the product can be classified under

1. direct manufacturing labor costs
2. indirect manufacturing labor costs
3. work in process cost
4. finished costs

MCQ 2: In an income statement, when costs become cost of sold goods and manufactured products are sold, such costs are

1. inventoriable costs
2. finished costs
3. factory overhead costs
4. manufacturing overhead costs

MCQ 3: The balance sheet, in which all the costs of the product that must be considered as its assets, is said to be

1. factory overhead costs
2. manufacturing overhead costs
3. Inventoriable costs
4. finished costs

MCQ 4: An acquisition cost of raw material is to be used in the manufacturing, and becoming a component of cost object is classified as

1. direct material costs
2. indirect material costs
3. direct labor costs
4. indirect labor costs

MCQ 5: The wages and other benefits, provided to assembly line workers and operators of machine are classified under the

1. work in process costs
2. finished costs
3. direct manufacturing labor costs
4. indirect manufacturing labor costs