Reference no: EM132686311

Problem 1: Manufacturing costs consist of Direct materials, direct labor, and selling expenses.

Select one:

True

False

Problem 2: A job order cost system provides product costs for each department whereas a process cost system provides costs for each quantity of product manufactured.

Select one:

True

False

Problem 3: Direct labor and direct materials represent conversion costs.

Select one:

True

False

Problem 4: At break-even point, expenses are greater than sales.

Select one:

True

False

Problem 5: Period costs consist of direct materials and selling expenses.

Select one:

True

False

Problem 6: Finished goods inventory consists of completed products.

Select one:

True

False

Problem 7: Straight-line depreciation is an example of variable overhead cost.

Select one:

True

False

Problem 8: A production cost where the cost per unit varies inversely to the change in the activity base is a:

Select one:

A. Variable cost

B. Fixed cost

C. Mixed cost

D. Conversion cost