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Chapter 2 Questions

Alexa Wood 9 Fragen

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Fragen in diesem Quiz (9)

  1. 1Product (or manufacturing) costs consist of:
    1. Aselling and administrative costs.
    2. Bmanufacturing overhead, direct materials, and supplies expense.
    3. Cdirect materials, direct labor and selling costs.
    4. Dprime costs and manufacturing overhead,
    5. Edirect labor, indirect labor, and sales commission expense
  2. 2The accountant in a factory that produces biscuits for fast-food restaurants wants to assign costs to boxes of biscuits. Which of the following costs can be traced directly to boxes of biscuits?
    1. AThe cost of flour and baking soda
    2. BThe cost of milk and eggs used in biscuit mix
    3. CThe cost of baking oil and butter
    4. DThe cost of the salt and other spices used
    5. EAll of the above are correct
  3. 3Which of the following is an indirect cost?
    1. AThe cost of mixing labor in a factory that makes over-the-counter pain relievers
    2. BThe cost of denim in a jeans factory
    3. CThe cost of restriping the parking lot at a perfume factory
    4. DThe cost of bottles in a shampoo factory
    5. EAll of these choices are correct.
  4. 4Bobby Dee's is an owner-operated company that details (thoroughly cleans—inside and out) automobiles. Bobby Dee's is which of the following?
    1. AService firm
    2. BRetailer
    3. CWholesaler
    4. DManufacturing firm
    5. ENone of these choices are correct
  5. 5Kellogg's makes a variety of breakfast cereals. Kellogg's is which of the following?
    1. AWholesaler
    2. BRetailer
    3. CService firm
    4. DManufacturing firm
    5. ENone of these choices are correct
  6. 6Target is which of the following?
    1. AWholesaler
    2. BRetailer
    3. CService firm
    4. DManufacturing firm
    5. ENone of these choices are correct
  7. 7Stone Inc. is a company that purchases goods (e.g., chess sets, pottery) from overseas and resells them to gift shops in the United States. Stone Inc. is which of the following?
    1. AWholesaler
    2. BRetailer
    3. CService firm
    4. DManufacturing firm
    5. ENone of these choices are correct.
  8. 8Which of the following is a period expense?
    1. AFactory insurance
    2. BCEO salary
    3. CDirect labor
    4. DFactory maintenance
    5. EAll of these choices are correct
  9. 9Accumulating costs means that
    1. Acosts must be compared to previous periods to identify trends.
    2. Beach cost must be linked to some cost object.
    3. Ccosts must be measured and tracked
    4. Dcosts must be summed and entered on the income statement.
    5. Ecosts have expired and must be transferred from the balance sheet to the income statement.

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Beschreibung
accounting Quiz am Chapter 2 Questions, erstellt von Alexa Wood am 08/05/2017.
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English
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accounting
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