There is always a difference between cost of goods manufactured and total manufacturing costs. [ Select ] ["False",

[answerhappygod]

There is always a difference between cost of goods manufactured
and total manufacturing costs.
[ Select ]
["False", "True"] The focus of managerial
accounting information is mainly on the organization as a
whole.
[ Select ]
["False", "True"] Cost concepts such as variable,
fixed, mixed, direct and indirect apply to manufacturers,
merchandisers, and service companies.
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["True", "False"] Product costs are capitalized as
inventory on the balance sheet and period costs are expenses on the
income statement.
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["True", "False"] The sales commission incurred
based on units of product sold during the month is an example of a
product cost.
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["True", "False"] Merchandisers and manufacturers
usually have three inventories: raw materials, work in process, and
finished goods.
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["False", "True"] Raw materials that become part
of a product and are identified with specific units or batches of a
product are called direct materials.
[ Select ]
["True", "False"] Four factors come together in
production activity: beginning work in process inventory, raw
materials, direct labor, and factory overhead.
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["True", "False"] Indirect materials are accounted
for as factory overhead because they are not clearly identified
with specific product units and/or it is not cost effective to
separately track the cost per unit.
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["True", "False"] Both financial and managerial
accounting rely on accepted principles that are enforced through an
extensive set of rules and guidelines.