
Chapter 1 Review
Authored by Dan Krebs
Business
University - Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A factory supervisor's salary would be classified as an indirect cost with respect to a unit of product.
True
False
2.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
A cost can be direct or indirect. The classification can change if the cost object changes.
True
False
3.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Selling costs are...
Indirect
Direct
Indirect or Direct
Neither Indirect nor Direct
4.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
The sum of all manufacturing costs EXCEPT for direct materials and direct labor is called...
Manufacturing Overhead
Depreciation
Selling Expense
Period Cost
5.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Administrative cost can be any of the following EXCEPT...
Indirect Costs
Direct Costs
Period Costs
Product Costs
6.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Depreciation is always considered a period cost for external financial reporting purposes in a manufacturing company.
True
False
7.
MULTIPLE CHOICE QUESTION
30 sec • 5 pts
Advertising is not considered as a product cost even if it promotes a specific product.
True
False
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