Which of the following costs would not be classified as factory overhead? A. Property taxes on maintenance machinery. B. Expired insurance on factory equipment. C. Wages of the factory janitor. D. Metal doorknobs used on wood cabinets produced. A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of 18,000, cost of goods manufactured of $32,000, and an ending finished goods inventory of 17,800. The cost of goods sold for this company is: A. $28,800. B. $29,300. C. $32,500. D. $47,100. The following information relates to the manufacturing operations of the IMH Publishing Corporation for the year: The raw materials used in manufacturing during the year totaled $118,000. Raw materials purchased during the year amount to: A. $107,000. B. $115,000. C. $121,000. D. $118,000. Managerial accounting is different from financial accounting in that A. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on subdivisions of the organization. B. Managerial accounting never includes nonmonetary information. C. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum
