When Using Normal Costing, Which Costs Never Enter the Work-In-Process

question 72

Multiple Choice

When using normal costing, which costs never enter the Work-in-Process Inventory account?

• A) direct labour
• B) direct materials
• C) actual overhead
• D) applied overhead

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Definitions:

Insider Trading

Buying or selling a publicly-traded company's stock by someone who has non-public, material information about that stock.

Securities Exchange Act of 1934

A U.S. federal law that regulates the secondary trading of securities (stocks, bonds, and debentures) in the stock market.

Rule 10b-5

A regulation under the SEC that prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.

Security Definition

A term referring to measures or protocols implemented to protect against unauthorized access, theft, or damage to information, buildings, or individuals.