1. Which is NOT a managerial cost

   	A.	Direct overhead
   	B.	Direct labor
   	C.	Manufacturing overhead
   	D.	Direct Materials

QUESTION 2

1. Which of the following is a period cost

   	A.	Selling expenses
   	B.	Direct materials
   	C.	Direct Labor
   	D.	Manufacturing overhead

QUESTION 3

1. Which is a type of inventory for a manufacturer

   		Raw materials inventory
   		Cost of goods sold inventory
   		Cost of goods manufactured inventory
   		Almost finished inventory

QUESTION 4

1. For the year Philips Co has cost of goods manufactured of $150,000, beginning finished goods inventory of $50,000 and ending finished goos inventory of $125,000. The cost of goods sold is

   		$75,000
   		$125,000
   		$250,000
   		$150,000

QUESTION 5

1. Which of the following is true of process costing

   	A.	It is generally used by manufacturers of mass produced goods
   	B.	It is used by all manufacturers
   	C.	It is never used by manufacturers
   	D.	It is used only by small companies

QUESTION 6

1. Which of the following is an example of manufacturing overhead

   		Raw materials
   		Direct labor
   		Property taxes on a factory
   		Job order costing

QUESTION 7

1. Which of the following statements is true

   	A.	Job order costing requires no data
   	B.	Allocation of overhead is easier under job order costing than process costing
   	C.	Job order costing provides more precise costing for custom jobs than process costing
   	D.	The use of job order costing has increased for all manufacturers

QUESTION 8

1. Which of the following would be most likely to use a job order cost system

   	A.	A movie studio
   	B.	A large oil company
   	C.	Coca Cola co
   	D.	Dow Chemical co

QUESTION 9

1. An equivalent unit is

   	A.	A pound
   	B.	Always equal to a banana
   	C.	A measure of the work done during a period expressed in fully completed units
   	D.	Is never used by a manufacturer

QUESTION 10

1. In ABC Company, there are zero units in beginning work in process. 14,000 units started into production and 1,000 units in ending work in process. 10% complete. The physical units to be accounted for are:

   	A.	13,500
   	B.	13,000
   	C.	15,000
   	D.	14,000

QUESTION 11

1. A company using process costing when making journal entries to assign raw materials would

   	A.	credit finished goods inventory
   	B.	always credit two or more work in process accounts
   	C.	Debit finished goods inventory
   	D.	often debit two or more work in process accounts

QUESTION 12

1. Mixed costs

   	A.	are made up of variable and fixed components
   	B.	contain no costs
   	C.	only contain variable costs
   	D.	only contain fixed costs