A Company Incurred Manufacturing Costs That Were Product Costs, but They

question 91

Multiple Choice

A company incurred manufacturing costs that were product costs, but they are not classified as either direct materials or direct labour.What are these called?

• A)manufacturing overhead
• B)selling and administrative expenses
• C)period costs
• D)marketing costs

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Definitions:

AASB 127

A standard issued by the Australian Accounting Standards Board that deals with consolidated and separate financial statements.

Indirect Non-Controlling Interest

An ownership interest in an entity that is held through another entity, not directly by the owners.

Direct Non-Controlling Interest

A portion of equity in a subsidiary not attributable directly to the parent company, representing minority shareholders' stake in the entity.