Circle the letter of the best response. 1. A portion of a company's inventory is shown below: $350,000 Sales Cost of Goods Sold: Beginning Inventory $ 15,000 Purchases 250,000 Cost of Goods Available for Sale 265.000 Less: Ending Inventory 13,000 Cost of Goods Sold Gross Profit 252,000 $ 98,000 What type of company is illustrated? A Service Corporation B. Merchandising Corporation C. Manufacturing Corporation D. Not-for-profit Corporation 2. Which of the following is NOT a value chain activity? A Research & Development . Production C. Distribution D Quality Control 1 Which of the following is a direct cost in the production of tire jacks for a machine shop? Utilities B. Taxes C. Steel D Rent 3. 4. Which of the following is an indirect cost in the construction cost of a home for a building company? A Insurance B. Paint C. Lumber D. Carpeting 6. A B 7. Which of the following companies has all costs along the value chain accounted for as period costs? A. Service Corporation . Merchandising Corporation C. Manufacturing Corporation D None of the above A manufacturer would treat direct materials, direct labour, and overhead as: inventoriable product costs. period costs. both inventoriable product and period costs. D neither inventoriable product nor period costs. Which of the following is NOT a relevant cost when buying new manufacturing equipment? A Sales tax Cost of machine being replaced C. Purchase price D Insurance on the machine Which of the following is a fixed cost for a plant that manufactures iPods? A Plastic used to make the cases B Employee wages for assembly C Computer chip used in each iPod D Straight-line depreciation on stamping machine used I form iPod cases Which of the following is a variable cost for a plant that manufactures iPods? Advertising costs B Salary of payroll clerk c. Straight line depreciation of warehouse building D. Wire used for the headphones . 8. 9. . 10 Rosketupany's manufacturing costs for July are: Materials cost: $4,000 * Labour cost: 83,200 Overhead: 5800 . $3 c. $20 B. 55 D. $24 If Rocketspray's one plant employee manufactured 10 bottles per hour, and worked 8 hours per day for 20 days in July, what is the cost per bottle