FIN 14 MCQs [Need in 2 hours]
RSaleemWhich cost is a period cost? (Points : 5) Depreciation of factory equipment
Transportation-in for raw material
Patent amortization for the company's product
Depreciation of office equipment
Custom boot maker Soda pop Horse saddles |
There is no need to track materials to processes. A process costing system is more expensive to maintain because it has more work-in-process accounts. All of the above |
$150,000. $60,000. $0. |
Scheduling Finishing All of the above are value-added activities. |
where fixed costs equal total variable costs. where total revenues equal total costs. where total costs equal total contribution margin. |
5,000 units 3,333 units 60,000 units |
Purchasing Personnel Accounting |
$1,600 $800 $6,400 |
actual amounts from different years are compared. budgeted amounts are compared to actual amounts. None of the above |
11,000 pillows 11,250 pillows 10,250 pillows |
Inclusion of variable factory overhead in period costs Inclusion of fixed selling expenses in period costs Inclusion of fixed factory overhead in product costs |
Using higher quality materials Using more highly skilled workers Receiving discounts for purchasing larger-than-normal quantities |
Question 14. 14. (TCO 6) Which equation measures the direct labor rate variance? (Points : 5) |
(SR * AH) - (SR * SH).
(AR * SH) - (SR * AH).
(AR * AH) - (SR * AH).
None of the above
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