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Which costs would appear on the income statements

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Reference no: EM132634649

Question 1: Which of the following costs would appear on the income statements for both a merchandiser and a manufacturer?

Your answer:

Option 1: Direct labor

Option 2: Cost of goods manufactured

Option 3: Direct materials

Option 4: Operating expenses

Question 2: Selling and administrative expenses are subtracted from cost of goods sold to obtain gross profit.

Your answer:

Yes

No

Reference no: EM132634649

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