Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

ULTIPLE CHOICE, Choose the one alternative that best completes the statement or answers the question. 1) Manufacturing overhead costs are also referred to as: 1)

image text in transcribed
ULTIPLE CHOICE, Choose the one alternative that best completes the statement or answers the question. 1) Manufacturing overhead costs are also referred to as: 1) A) prime costs B) direct material C) period costs D) indirect manufacturing costs 2) Which of the following is NOT a period cost? 2) A) general and administrative costs B) marketing costs C) research and development costs D) direct materials 3) Manufacturing overhead costs in an automobile manufacturing plant most likely include: 3) A) sales commissions B) steering wheel costs C) indirect material costs suchas lubricants D) labor costs of the painting department 4) Prime costs include: A) direct materials and manufacturing overhead costs B) only direct materials C) direct materials and direct manufacturing laborcosts D) direct manufacturing labor and manufacturing overhead costs 5) A mixed cost is: 5) A) always an indirect cost B) a cost with fixed and variable elements C) a fixed cost D) a variable cost 6) Which of the following is a mixed cost? 4) A) manager's salary B) direct materials C) monthly electric bill D) monthly rent payment 7) Conversion costs include: A) only direct materials B) direct materials and manufacturing overhead costs C) direct materials and direct manufacturing laborcosts D) direct manufacturing labor and manufacturing overhead costs 8) Cost behavior refers to: A) classifying costs as either inventoriable or period costs B) how costs react to a change in the level of activity C) whether a cost is incurred in a manufacturing, merchandising, or service company D) whether a particular expense has been ethically incurred 9) Variable costs: 7) 6) A) are always indirect costs B) increase in total when the actual level of activity increases C) can always be traced directly to the costobject D) include most personnel costs and depreciation on machinery

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

ISE Fundamental Managerial Accounting Concepts

Authors: Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds

9th Edition

1260565483, 9781260565485

More Books

Students also viewed these Accounting questions