Distinguish between direct labor and indirect labor. 5. Distinguish between (a) factory overhead and (b) selling, general, and administrative expenses. 6. Distinguish between direct material
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4. Distinguish between direct labor and indirect labor.
5. Distinguish between (a) factory overhead and (b) selling, general, and administrative expenses.
6. Distinguish between direct materials and indirect materials.
8. Assume that we tour Apples factory where it makes iPhones. List three direct costs and three indirect costs that we are likely to see.
11. Explain why product costs are capitalized but period costs are expensed in the current accounting period.
19. List several examples of factory overhead.
Requirements: use best judgement
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