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- 1. Multiple ChoiceAll costs related to the manufacturing function in a company areprime costsperiod costsmanufacturing overhead costsproduct costs
- 2. Multiple ChoiceWhich of the following costs would be considered production overhead in the production of bread?FlourElectricityYeastSugar
- 3. Multiple ChoicePrime costs consist of______direct labourdirect labour+direct expensesdirect materials+direct expensesdirect materials+direct labour+direct expenses
- 4. Multiple ChoiceFor a manufacturing company, which of the following is a period, but not a product cost?Salary of accounts executiveSalary of factory supervisorsRental cost of factory buildingDepreciation on factory machineries
- 5. Multiple ChoiceConversion costs do not includedirect labourfactory utilitiesdirect materialsproperty taxes on factory building
- 6. Multiple ChoiceA cost that remains constant in total but varies on a per-unit basis with changes in activity is called afixed costperiod costproduct costvariable cost
- 7. Multiple ChoiceThe direct materials and indirect materials used in the production of a motorcycle, combined with the direct labour costs and manufacturing overhead involved would be called as ______ costsdirectperiodproductconversion
- 8. Multiple Choice
Which of the following is most likely to be a variable cost?
Property insurance premiums.
Interest on bonded indebtedness.
Rental payments on IBM requirement.
Payment for raw materials purchased from Company Y.
- 9. Multiple Choice
Are costs that vary in total directly and proportionately with changes in the activity level.
Fixed Cost
Variable Cost
Mixed Cost
Irrelevant Cost
- 10. Multiple Choice
Cost that cannot be changed by any present and future decision, therefore irrelevant cost.
Variable Cost
Fixed Cost
Sunk Cost
Relevant Cost
- 11. Multiple Choice
Direct labor + Factory Overhead
Conversion Cost
Prime Cost
Manufacturing Cost
None of the answer
- 12. Multiple Choice
Also known as Non-Manufacturing Cost
Product Cost
Period Cost
Inventoriable Cost
Manufacturing Cost
- Answer choicesTagsAnswer choicesTags