Exam1-winter2008 - ACCOUNTING203ONLINE...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
ACCOUNTING 203 ON-LINE EXAM #1  (CHAPTERS 15,16) 150 PTS. DUE DATE: Thursday, January 24 (by midnight) 36 Multiple-Choice 3.75 pts. each PROBLEM #1   (15 PTS.) Best of luck!!!   1. Depreciation expense could be A) a period cost. B) a product cost. C) a fixed cost. D) all of these. 2. An example of a period cost is A) advertising costs. B) indirect materials. C) product design costs. D) direct materials. 3. Another term for product cost is A) period cost. B) direct cost. C) value-adding cost. D) inventoriable cost. 4. Which of the following is not a product cost? A) Depreciation of office furniture B) Overhead C) Direct labor D) Direct materials Page 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
5. Which of the following is a typical example of a variable cost? A) Sales commissions B) Rent C) Depreciation D) Salaries 6. Which of the following is a value-adding cost? A) Depreciation on personnel department equipment B) Depreciation on factory equipment C) Depreciation on office equipment D) Depreciation on sales department equipment 7. Prime costs consist of A) direct materials and overhead. B) direct labor and overhead. C) direct labor and indirect labor. D) direct materials and direct labor. 8. Conversion costs consist of A) direct materials and direct labor. B) direct labor and overhead. C) direct materials and overhead. D) direct labor and indirect labor. 9. The three costs in every product are A) direct materials, work in process, and overhead. B) direct materials, work in process, and finished goods. C) direct materials, direct labor, and overhead. D) direct materials, direct labor, and period costs. 10. Costs such as supervisors and other support personnel, which are accounted for as overhead costs, are called A) direct labor. B) sales assistance. C) indirect labor. D) variable labor.
Background image of page 2
11. All manufacturing costs incurred and assigned to products that are being produced are classified as A) variable costs. B) allocated costs. C) product costs. D)
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 11

Exam1-winter2008 - ACCOUNTING203ONLINE...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online