Costs constitutes direct material in an iron foundry

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Reference no: EM131214411

1. Which of the following costs constitutes a direct material in an Iron Foundry?

a.Welding wire

b.Sand

c.Iron Ore

d.Accounting salaries

2. Which of the following is a variable cost?

a.Property taxes

b.Commissions paid to a car salesperson

c.Heating bill

d.Electric bill

3. The second stage in an ABC costing system is to compute:

a.Assigning overhead costs to products

b.Directly expensing the costs

c.The activity rate

d.Apply the costs to the cost pools

4. Activity pools are:

a.Serve very little purpose

b.Generally aligned with the natural business process o f the company

c.Strictly an accounting function

d.Strictly a finance function

Reference no: EM131214411

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