A Manufacturing Statement Is Also Known as a Schedule or Listing

question 120

Multiple Choice

A manufacturing statement is also known as a schedule or listing of the:

• A) Raw materials processed.
• B) Factory supplies used.
• C) Cost of goods manufactured.
• D) Total finished goods.
• E) Cost of goods sold.

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Definitions:

Credit Balance

A situation in an account where the total credits exceed the total debits, indicating a positive balance.

Factory Overhead

All indirect costs associated with manufacturing, excluding direct materials and direct labor.

Journal Entry

A record in accounting that notes the details of a financial transaction in the ledger.

Organization Chart

A visual representation that shows the hierarchical structure of an organization and the relationships and relative ranks of its parts and positions/jobs.