We've found 28 Finished Goods Inventory tests

Finance Finished Goods Inventory Fixed Order Quantity Human Resource Management Managerial Economics Operations Management
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Lesly Nixon
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Jacob Patel avatar
Jacob Patel
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Elizabeth Mcdonald avatar
Elizabeth Mcdonald
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Lewis Edwards avatar
Lewis Edwards
120 terms
Accounting Financial Accounting Finished Goods Inventory Select The Correct Statement
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Will Walter avatar
Will Walter
66 terms
Demand Economic Order Quantity Finished Goods Inventory Principles Of Marketing
MGMT 480 CHAPTER 12 – Flashcards 21 terms
Maisie Clarke avatar
Maisie Clarke
21 terms
Under which situtation is Finished Goods Inventory debited and work-in-process inventory account credited?
Transfer of goods to the finished goods storeroom
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Q 6.3: How is inventory ready for sale classified in a manufacturing company? A : finished goods inventory B : store supplies inventory C : work in process inventory D : raw materials inventory
A : finished goods inventory
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Which of the following inventory costing methods shown below is most likely to cause undesirable incentives for managers to build up finished goods inventory?
Absorption costing
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Which of the following is an example of a firm’s intangible resources? A. the firm’s cash at bank B. the firm’s finished goods inventory C. the firm’s organizational culture D. the firm’s land and building
C. the firm’s organizational culture
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Which one of the following does NOT appear on the balance sheet of a manufacturing company: a) finished goods inventory b) work in process inventory c) costs of goods manufactured d) raw materials inventory
Cost of goods manufactured
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Under which of the following situations is Finished Goods Inventory debited and Work – in – Process Inventory account credited? A. Transfer of goods to the finished goods storeroom B. Purchased of goods on account C. Transfer goods out of the factory D. Transfer of material to Work – in – Process Inventory account
A. Transfer of goods to the finished goods storeroom
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If the cost of goods sold is less than the cost of goods manufactured, then which of the following must be true?: a.) Work in process inventory has decreased during the period. b.) Finished goods inventory has increased during the period. c.) Total Manufacturing costs must be greater than cost of goods manufactured. d.) Finished goods inventory has decreased during the period.
b.)Finished goods inventory has increased during the period.
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Which of the following accounts is used to accumulate the actual manufacturing overhead costs incurred during a period? – Applied Manufacturing Overhead – WorkinProcess Inventory – Manufacturing Overhead Control – Cost of Goods Sold – Finished Goods Inventory
Manufacturing Overhead Control Since this is “actual” overhead it would not go to “Applied”. Manufacturing Overhead Control would get the actual overheads.
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