All of the Following Costs Should Be Charged to Expense

question 103

Multiple Choice

All of the following costs should be charged to expense in the period in which they are incurred EXCEPT for

• A)manufacturing overhead costs for a product manufactured and sold in the same accounting period.
• B)costs which will not benefit any future period.
• C)costs from idle manufacturing capacity resulting from an unexpected plant shutdown.
• D)costs of normal shrinkage and scrap incurred for the manufacture of a product in ending inventory.

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Definitions:

Sieve Tube Elements

Cells found in the phloem of vascular plants that facilitate the transport of sugars and other nutrients throughout the plant.

Lateral Meristems

Areas of localized cell division on the side of a plant that give rise to secondary tissues. Lateral meristems, including the vascular cambium and the cork cambium, cause an increase in the girth of the plant body. Compare with apical meristem.

Apical Meristems

Regions located at the tips of roots and shoots where cells divide actively, leading to plant growth in length.

Vascular Cambium

A type of cambium tissue in plants that produces vascular tissues such as xylem and phloem, contributing to the increase in stem and root diameter.