tb chap 2 - 1. The manufacturing cost incurred to change...

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1. The manufacturing cost incurred to change direct materials into a finished product is called: a. period cost. b. unexpired cost. c. conversion cost. d. fixed cost. correct: c 2. A cost driver is: a. an activity measure that, when changed, is accompanied by a consistent, observable change in a cost item. b. a predictor that has an absolute cause-and-effect relationship to a cost. c. a process used by cost accountants to separate mixed costs into their components so that cost behavior is more readily apparent. d. the sum of direct material and direct labor. correct: b 3. Which of the following is false regarding distribution costs? a. Distribution costs include costs to warehouse and transport a product or service. b. Distribution costs are generally considered immaterial and are handled with an "out-of-sight, out-of-mind" attitude. c. Distribution costs are expensed as incurred under GAAP accounting. d.
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This note was uploaded on 12/12/2008 for the course ACCT 310 taught by Professor Nacemagner during the Fall '08 term at Western Kentucky University.

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tb chap 2 - 1. The manufacturing cost incurred to change...

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