Podcast
Questions and Answers
Which of the following costs can be easily traced to individual units of product?
Which of the following costs can be easily traced to individual units of product?
- Administrative Costs
- Indirect Materials
- Manufacturing Overhead
- Direct Materials (correct)
What is the term for all manufacturing costs except direct materials and direct labor?
What is the term for all manufacturing costs except direct materials and direct labor?
- Direct Labor
- Product Costs
- Indirect Materials
- Manufacturing Overhead (correct)
Which cost classification includes costs associated with general management of an organization?
Which cost classification includes costs associated with general management of an organization?
- Direct Labor
- Administrative Costs (correct)
- Selling Costs
- Product Costs
What are all the costs that are not product costs referred to as?
What are all the costs that are not product costs referred to as?
Which term refers to how a cost reacts to changes in the level of activity?
Which term refers to how a cost reacts to changes in the level of activity?
Where are product costs initially assigned before being released as expenses upon sale?
Where are product costs initially assigned before being released as expenses upon sale?
What type of cost varies in direct proportion to changes in the level of activity?
What type of cost varies in direct proportion to changes in the level of activity?
Which type of cost remains constant regardless of changes in activity?
Which type of cost remains constant regardless of changes in activity?
What are mixed costs also known as?
What are mixed costs also known as?
Which type of cost is a cost that can be easily traced to a specified cost object?
Which type of cost is a cost that can be easily traced to a specified cost object?
What is the potential benefit given up when one alternative is selected over another?
What is the potential benefit given up when one alternative is selected over another?
What is the amount that contributes toward covering fixed expenses and profits after deducting variable expenses from sales revenues?
What is the amount that contributes toward covering fixed expenses and profits after deducting variable expenses from sales revenues?
