Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

9. Current Liabilities

Types of Liabilities

Financial Accounting

9. Current Liabilities

Types of Liabilities

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Multiple Choice

Salaries of factory supervisors and factory maintenance personnel are examples of which type of cost?

Administrative expenses

Indirect labor costs

Direct materials costs

Selling expenses

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Verified step by step guidance

Understand the concept of indirect labor costs: These are costs associated with employees who do not directly work on the production of goods but are essential for the manufacturing process, such as factory supervisors and maintenance personnel.

Review the definition of administrative expenses: These are costs related to the general management and administration of the company, which are not directly tied to the production process.

Examine the definition of direct materials costs: These are costs for materials that are directly used in the production of goods and can be easily traced to the finished product.

Understand selling expenses: These are costs incurred to market, sell, and distribute the product, such as advertising and sales commissions.

Compare the given options and identify that salaries of factory supervisors and factory maintenance personnel align with the definition of indirect labor costs, as these roles support the production process but do not directly produce goods.