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Characteristics applies to process costing

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Reference no: EM133300822

Questions

1. Which of the following is a period cost for a manufacturer?

a. insurance on factory equipment

b. salesperson commissions

c. factory equipment depreciation

d. machine operator wages

2. A company incurred $8,600 in total costs to produce 400 units of a product. Each unit required five hours of direct labor to complete. What was the total fixed costs if the variable cost per unit was $1.50 per direct labor hour?

a. $3,000

b. $1,700

c. $5,600

d. $8,000

3. Which of the following characteristics applies to process costing, but does not apply to job order costing?

a. the use of predetermined overhead

b. having work organized as separate, identifiable jobs

c. the use of equivalent units of production

d. the need to average

Reference no: EM133300822

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