5 Questions
Which financial statement is the classification for expired costs?
Income statement
Which financial statement is the classification for unexpired costs?
Balance sheet
Which type of cost is included in inventory?
Prime cost
Which type of cost includes direct labor and manufacturing overhead?
Conversion cost
Which type of cost is expensed on the income statement?
Period cost
Test your knowledge on cost object association, classification on financial statements, expired and unexpired costs, composition of manufacturing costs, and reaction to changes in activity in this quiz on cost accounting.
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