Scribd Logo
Upload

Welcome to Scribd!

  • 53 views

    Monthly Depreciation of The Equipment Ina Fitness Room Used by Factory Workers

    Uploaded by

    Allana Mier
    This document contains multiple choice questions about accounting concepts related to period costs, product costs, fixed costs, and variable costs. It asks the reader to identify which choices are period costs versus product costs, and whether certain costs such as insurance, supplies, and electricity are fixed or variable costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Monthly Depreciation of The Equipment Ina Fitness Room Used by Factory Workers

    Uploaded by

    Allana Mier
    53 views6 pages
    This document contains multiple choice questions about accounting concepts related to period costs, product costs, fixed costs, and variable costs. It asks the reader to identify which choices are period costs versus product costs, and whether certain costs such as insurance, supplies, and electricity are fixed or variable costs.

    Original Title

    Document 13

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document contains multiple choice questions about accounting concepts related to period costs, product costs, fixed costs, and variable costs. It asks the reader to identify which choices are period costs versus product costs, and whether certain costs such as insurance, supplies, and electricity are fixed or variable costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    53 views6 pages

    Monthly Depreciation of The Equipment Ina Fitness Room Used by Factory Workers

    Uploaded by

    Allana Mier
    This document contains multiple choice questions about accounting concepts related to period costs, product costs, fixed costs, and variable costs. It asks the reader to identify which choices are period costs versus product costs, and whether certain costs such as insurance, supplies, and electricity are fixed or variable costs.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 6

    24.

    Which of the following is NOT a period


    cost?
    a. Monthly depreciation of the equipment
    in a
    fitness room used by factory workers.
    b. Salary of a billing clerk.
    c. Insurance on a company showroom,
    where
    current and potential customers can view
    new
    products.
    d. Cost of a seminar concerning tax law
    updates
    that was attended by the company's
    controller.
    25.The annual insurance premium for the
    factory
    building would be a:
    a. fixed cost, period cost, and indirect cost
    with
    regard to units of product.
    b. fixed cost, product cost, and direct cost
    with
    regard to units of product.
    c. variable cost, product cost, direct cost
    with
    regard to units of product.
    d. fixed cost, product cost, indirect cost
    with
    regard to units of product.
    26.Factory supplies in a manufacturing
    plant are most
    likely:
    a. sunk costs.
    b. period costs.
    c. variable costs.
    d. excluded from product costs.
    27.All of the following are examples of
    product costs
    except:
    a. depreciation on the company's retail
    outlets.
    b. salary of the plant manager.
    c. insurance on the factory equipment.
    d. rental costs of the factory facility.
    28.Inventoriable costs that have become
    expenses
    can be found in:
    a. period costs.
    b. selling expenses.
    c. cost of goods sold.
    d. administrative expenses.
    29.The fixed portion of the cost of
    electricity for a
    manufacturing plant is a:
    Period Cost Product Cost
    a. Yes No
    b. Yes Yes
    c. No Yes
    d. No No
    30.Which of the following statements
    about product
    costs is true?
    a. Product costs are deducted from
    revenue
    when the production process is
    completed.
    b. Product costs are deducted from
    revenue as
    expenditures are made.
    c. Product costs associated with unsold
    finished
    goods and work in process appear on the
    balance sheet as assets.
    d. Product costs appear on financial
    statements
    only when products are sold.
    31.Direct materials cost is part of
    Conversion Cost Prime Cost
    a. Yes Yes
    b. No No
    c. No Yes

    You might also like