CH 2 Exam - Homework Manager 2 - View My Grades -...

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View My Grades HOMEWORK MANAGER > STUDENTS > VIEW MY GRADES > ALL QUESTIONS Question 1: Score 3/3 Question 2: Score 3/3 Question 3: Score 3/3 Prime costs consist of: Your Answer: Choice Selected direct materials and the variable portion of manufacturing overhead. direct labor and indirect labor. indirect labor and the fixed portion of manufacturing overhead. direct labor and direct materials. The potential benefit that is given up when one alternative is selected over another is called: Your Answer: Choice Selected An opportunity cost. Both a sunk cost and an opportunity cost. Neither a sunk cost nor an opportunity cost. A sunk cost. The following inventory balances have been provided for the most recent year: The cost of goods manufactured was $714,000. What was the cost of goods sold? Beginning Ending Raw materials $22,300 $15,300 Work in process $19,000 $29,500 Finished goods $54,000 $37,000 Your Answer: Choice Selected $843,000 Page 1 of 5 Homework Manager 2 - View My Grades - Managerial Accounting ACC116B - Section . .. 9/8/2008 http://mh10.brownstone.net/modules/viewRecord.Login
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Question 4: Score 0/3 Question 5: Score 3/3 Question 6: Score 3/3 $731,000 $781,000 $606,000 Feedback: Finished goods inventory, beginning $54,000 Add: Cost of goods manufactured 714,000 Goods available for sale 768,000 Deduct: Finished goods inventory, ending 37,000 Cost of goods sold $731,000 Which of the following is NOT a period cost? Your Answer:
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CH 2 Exam - Homework Manager 2 - View My Grades -...

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