1.Period costs include all selling and administrative costs, both variable and fixed.

True

False

2.A manufacturing company's cost of goods sold includes only product costs.

True

False

3.Managerial accounting is governed by rules issued by the AICPA

True

False

4.Smith Company sells a single product at a selling price of $30 per unit. Variable costs are $12 per unit and fixed costs are $14,000. Smith's break-even point in either unit or sales dollars is

1,380 units.

$69,000.

3,450 units.

$207,000.

none of these.