question 23
Multiple Choice
Use the following data to compute total manufacturing costs for the month: Sales commissions ....................... Direct labor Indirect materials ......................... Factory manager salaries Factory supplies Indirect labor Depreciation-office equipment..................... Direct materials .............. Dorporate office salaries Depreciation-factory equipment $10,80039,60015,2007,2009,0006,3005,00040,50042,5007,500
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Definitions:
Dividends
Dividends are payments made by a corporation to its shareholder members, reflecting a portion of the corporate profits allocated for distribution.
Net Income
The total profit of a company after all expenses, including taxes and operating costs, are subtracted from total revenue.
Revenue
The income received by a company from its business activities, usually from the sale of goods and services to customers.
Expenses
Money spent or cost incurred in an entity's efforts to generate revenue, representing the cost of doing business.