11. The cost of direct and indirect materials that have not yet entered the manufacturing process is:

Select one:

A.Materials inventory

B.Finished goods inventory

C.Work in process inventory

D.None of the above

12.Which of the following is considered part of a line department?

A.Plant Manager

B.Chief Financial Officer

C.Controller

D.Accountant

13. For a cost to be considered a direct cost, it must meet be:

A.An integral part of the finished product

B.A significant portion of the total cost of the product

C.All of the above

D.None of the above

14. A job order cost system provides product costs for each department whereas a process cost system provides costs for each quantity of product manufactured.

Select one:

True

False

15. Direct labor and direct materials represent conversion costs.

Select one:

True

False

16.Increases in fixed costs decrease the break-even point.

Select one:

True

False

17.Increases in fixed costs decrease the break-even point.

Select one:

True

False

18. Decreases in fixed costs decrease the break-even point.

Select one:

True

False

19. Increase in the selling price does not impact the break-even point.

Select one:

True

False

20. The formula to calculate the break-even point in units is:

Fixed Cost divided by unit contribution margin ratio.

Select one:

True

False