224) Which of the following is an example of direct materials cost for an automobile manufacturer?
a. Cost of wages of assembly worker
b. Cost of oil lubricants for factory machinery
c. Cost of interior upholstery
d. Salary of production supervisor 225) The task of preparing a budget should be the sole task of the most important department in an organization.
226) Managerial accounting information includes both historical and estimated data.
b. false 227) The amortization of discounts or premiums are recorded as part of interest income on the income statement.
228) Which of the following is not a reason to invest excess cash in temporary investments?
a. earn interest revenue
b. realize gains from the increase in market value of the securities
c. receive dividends
d. influence the operations of another company