Depreciation on a personal computer used in the marketing department of a manufacturing company would be classified as: a. a product cost that is fixed with respect to the company's output. b. a period cost that is fixed with respect to the company's output. c. a product cost that is variable with respect to the company's output. d. a period cost that is variable with respect to the company's output.

Statement 1: Manufacturing overhead is an indirect cost with respect to units of product. Statement 2: Depreciation on office equipment would be included in the cost of goods manufactured. Statement 3: Rent on factory building used in the production process would be classified as a period cost and as a fixed cost. Statement 4: The amount that a manufacturing company could earn by renting out unused portion of its warehouse is an example of an opportunity cost. Statement 5: Internal failure costs result from identification of defects during the appraisal process such as scrap, rejected products, rework and downtime. a. All statements are true b. Statements 1, 3 and 5 c.Statements 1, 2 and 4 are true are true d. Statements 1, 4 and 5 are true e.Statements 2, 4 and 5 are true f. Statements 2, 3 and 4 are true

In a make or buy decision, the relevant costs include variable manufacturing costs as well as A. Depreciation costs  B. General office cost C. Avoidable fixed costs  D. Factory management cost

Why are product costs sometimes called inventoriable costs? Describe the flow of such costs ina manufacturing company from the point of incurrence until they finally become expenses on theincome statement.

Which of the following costs is NOT capitalized as inventory?     a. Rent on Head Office building   b. Costs of delivering finished goods   c. Manufacturing overhead cost    d. Factory amortization

Which of the following is an example of a variable cost? a.Insurance on the production equipment b.Direct materials c.The production supervisor's salary d.Depreciation of the factory building e.None of these

1. Property taxes on a manufacturing plant is an element of: a. Conversion cost b. Prime cost   c. Period cost d. Fixed cost   2. Factory supplies for manufacturing plant are generally a. Prime cost b. Fixed cost c. Period cost d. Variable cost   3. Wages paid to timekeeper in a factory is a a. Prime cost b. Direct Material c. Conversion cost d. Direct labor

Direct manufacturing costs include: A. B. C. D. Depreciation, Raw Materials and Maintenance of manufacturing equipment. Premium portion of overtime wages, raw materials and rent on the manufacturing building. Direct Labor, Variable Manufacturing overhead and Raw Materials. None of the above. What are Prime Costs? A. B C. D. The major cost used to produce a product. Costs that are reduce the profit of a product. Raw Materials and Direct Labor Direct Labor and Manufacturing Overhead. What are differential Revenues? A. B. C. D. Differential Revenues are the differences in revenues between any competing alternatives to the solution of a problem. They are Costs that increase the revenue a Product Line. Any Revenue that increases when costs go down. A Revenue the moves in the opposite direction of a Cost. The linear equation method of determining breakeven in units is superior to other methods of calculating the breakeven because: A. ABCD C. D. it uses algebra to calculate the breakeven…

Q2) Product costing is the process of: A. accumulating the costs of a production process.B. assigning costs to a firm's products.C. placing a value on fixed assets owned by a producer.D. accumulating the costs of a production process AND assigning costs to a firm's products.

Product costs are the: Group of answer choices Non-manufacturing costs that are expensed in the accounting period in which they are incurred. Costs that are recorded as assets in the balance sheet unless the products are sold. Manufacturing costs that must be paid in the accounting period in which they are incurred. Manufacturing costs that are expensed in the income statement in the period in which they are incurred.