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Accounting 202 Final
Multiple Choice
| Question | Answer |
|---|---|
| Conversion costs consist of direct labor combined with: a) direct materials b) manufacturing overhead c) indirect materials d) cost of goods manufactured | b) manufacturing overhead |
| Process costing would be appropriate for each of the following except: a) oil refining b) soda bottling c) custom swimming pool manufacturing d) newspaper production | c) custom swimming pool manufacturing |
| Cost of Goods Sold is: a) an expense account b) included in inventory on the balance sheet c) the total dollar amount of goods available for sale in the period d) another term for managerial accounting | a) an expense account |
| Within the relevant range, the difference between variable costs and fixed costs is: a) variable costs per unit fluctuate and fixed costs per unit remain constant b) variable costs per unit are constant and fixed costs per unit fluctuate | b) variable costs per unit are constant and fixed costs per unit fluctuate |
| Which two terms below describe the salary paid to janitors who clean a factory facility every evening? a) variable cost and direct cost b) fixed cost and direct cost c) variable cost and indirect cost d) fixed cost and indirect cost | d) fixed cost and indirect cost |
Created by:
mpiontek
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