ch 18 quiz

ch 18 quiz - A d irect cost is a cost that is: i...

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A direct cost is a cost that is: identifiable as controllable. traceable to a cost object. variable with respect to the volume of activity. sunk with respect to a cost object. fixed with respect to the volume of activity. Period costs for a manufacturing company would flow directly to: the current balance sheet. the current manufacturing statement. job cost sheet. the current income statement. factory overhead. Which of the following statements is correct concerning the elements of cycle time? Wait time is considered value-added time. Move time is the time spent moving (1) raw materials from storage to production and (2) goods in process from factory location to another factory location. Process time is considered non-value-added time. Inspection time is the time spent producing the product. Cycle efficiency is the ratio of non-value-added time to total cycle time. The cost of labor that is not clearly associated with specific units or batches of product is called: Indirect labor. Direct labor. Basic labor. Joint labor. Unspecified labor. Costs that are incurred as part of the manufacturing process but are not clearly associated with specific units of product or batches of production, including all manufacturing costs other than direct material and direct labor costs, are called:
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factory overhead. sunk costs.
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This note was uploaded on 06/16/2011 for the course ACCT 201 taught by Professor Smith during the Spring '11 term at Yale.

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ch 18 quiz - A d irect cost is a cost that is: i...

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