A) are incurred to benefit a particular accounting period. B) are incurred due to a specific decision. C) can be easily traced to a particular cost object. D) are the variable costs of producing a product. 2) Which of the following is NOT a period cost? A Depreciation of factory maintenance equipment. B) Salary of a clerk who handles customer billing. C) Insurance on a company showroom where customers can view new prod D) Cost of a seminar concerning tax law updates that was attended by the 3) Product costs that have become expenses can be found in: A) period costs. B) selling expenses. (C) cost of goods sold. D) administrative expenses 4) The cost of direct materials is classified as a: Conversion cost No Yes No Yes Prime cost No No Yes Yes A) Choice A B) Choice B C) Choice C D) Choice D 5) Which of the following is an example of a period cost in a compan A) Fabric used to produce men's pants. (B) Advertising cost for a new line of clothing. Perod cost C) Factory supervisor's salary. iduct cost D) Monthly depreciation on production equipment. Product Cost mutacturing cosa Correct Answers 10.15 Torf and me 3 arestians 3 Chapter ACC 202 QUIZ 1 Chapter 1, 2, 3 Reichle SP 2020 NAME Cate Broshan 1) Direct costs: A) are incurred to benefit a particular accounting period. H) are incurred due to a specific decision C) can be casily traced to a particular cost object. D) are the variable costs of producing a product w 2) Which of the following is NOT a period cost? Depreciation of factory maintenance equipment B) Salary of a clerk who handles customer billing. C) Insurance on a company showroom where customers can view new products. D) Cost of a seminar concerning tax law updates that was attended by the company's controller. 3) Product costs that have become expenses can be found in: A) period costs B) selling expenses. (C) cost of goods sold D) administrative expenses 4) The cost of direct materials is classified as a: Conversion cost No Yes Prime cost No No B) Yes Yes Yes D) A) Choice A B) Choice B C Choice D) Choice D 5) Which of the following is an example of a period cost in a company that makes clothing? A) Fabric used to produce men's pants. B) Advertising cost for a new line of clothing. Period cost C) Factory supervisor's salary. duct 005 D) Monthly depreciation on production equipment product cost 6) Depreciation on a personal computer used in the marketing department of a manufacturing company would be classified as: A) a product cost that is fixed with respect to the company's output. B a period cost that is fixed with respect to the company's output. C) a product cost that is variable with respect to the company's output. D) a period cost that is variable with respect to the company's output. B) a period that is variable with the company's output
