Question 1

Direct labor is a part of both prime cost and conversion cost.

Accepted Answer

A) True 
 B)False

Question 2

The following inventory balances relate to Bharath Manufacturing Corporation at the beginning and end of the year:  Bharath's cost of goods sold was $653,000.What was Bharath's cost of goods manufactured?

Accepted Answer

A)  $660,000
B)  $670,000
C)  $682,000
D)  $689,000

Question 3

A partial listing of costs incurred during February at Urfer Corporation appears below: 
-The total of the product costs listed above for February is:

Accepted Answer

A)  $277,000
B)  $595,000
C)  $318,000
D)  $61,000

Question 4

The following cost data pertain to the operations of Polek Department Stores,Inc. ,for the month of March.  The Northridge Store is just one of many stores owned and operated by the company.The Cosmetics Department is one of many departments at the Northridge Store.The central warehouse serves all of the company's stores.
-What is the total amount of the costs listed above that are NOT direct costs of the Northridge Store?

Accepted Answer

A)  $39,000
B)  $66,000
C)  $79,000
D)  $147,000

Question 5

A partial listing of costs incurred during February at Urfer Corporation appears below: 
-The total of the period costs listed above for February is:

Accepted Answer

A)  $379,000
B)  $277,000
C)  $61,000
D)  $318,000

Question 6

Machowski Corporation has provided the following partial listing of costs incurred during November:  Required:
a.What is the total amount of product cost listed above? Show your work.
b.What is the total amount of period cost listed above? Show your work.

Accepted Answer

The answer of Machowski Corporation has provided the following partial...

Question 7

A lawnmower manufacturer computed a cost per unit of $53 by adding together last month's direct labor,direct materials,and manufacturing overhead and dividing that total by the 10,000 units produced last month.(There were no beginning or ending inventories. )  If 9,000 units are going to be manufactured this month,we would expect that the:

Accepted Answer

A)  cost per unit will remain the same.
B)  cost per unit will decrease.
C)  direction of change in unit costs cannot be determined.
D)  cost per unit will increase.

Question 8

Differential costs can be either fixed or variable.

Accepted Answer

A) True 
 B)False

Question 9

A partial listing of costs incurred at Peggs Corporation during September appears below: 
-The total of the manufacturing overhead costs listed above for September is:

Accepted Answer

A)  $71,000
B)  $351,000
C)  $669,000
D)  $40,000

Exam 2: Managerial Accounting and Cost Concepts

Correct Answer
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Machowski Corporation has provided the following partial listing of costs incurred during November: Required: a.What is the total amount of product cost listed above? Show your work. b.What is the total amount of period cost listed above? Show your work.

Correct Answer
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Correct Answer
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A partial listing of costs incurred during February at Urfer Corporation appears below: -The total of the product costs listed above for February is:

Correct Answer
verified

A partial listing of costs incurred during February at Urfer Corporation appears below: -The total of the period costs listed above for February is:

Correct Answer
verified

Differential costs can be either fixed or variable.

Correct Answer
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A partial listing of costs incurred at Peggs Corporation during September appears below: -The total of the manufacturing overhead costs listed above for September is:

Correct Answer
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The following inventory balances relate to Bharath Manufacturing Corporation at the beginning and end of the year: Bharath's cost of goods sold was $653,000.What was Bharath's cost of goods manufactured?

Correct Answer
verified

Direct labor is a part of both prime cost and conversion cost.

Correct Answer
verified

Exam 2: Managerial Accounting and Cost Concepts

Correct AnswerverifiedShow Answer

Machowski Corporation has provided the following partial listing of costs incurred during November: Required: a.What is the total amount of product cost listed above? Show your work. b.What is the total amount of period cost listed above? Show your work.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A partial listing of costs incurred during February at Urfer Corporation appears below: -The total of the product costs listed above for February is:

Correct AnswerverifiedShow Answer

A partial listing of costs incurred during February at Urfer Corporation appears below: -The total of the period costs listed above for February is:

Correct AnswerverifiedShow Answer

Differential costs can be either fixed or variable.

Correct AnswerverifiedShow Answer

A partial listing of costs incurred at Peggs Corporation during September appears below: -The total of the manufacturing overhead costs listed above for September is:

Correct AnswerverifiedShow Answer

The following inventory balances relate to Bharath Manufacturing Corporation at the beginning and end of the year: Bharath's cost of goods sold was $653,000.What was Bharath's cost of goods manufactured?

Correct AnswerverifiedShow Answer

Direct labor is a part of both prime cost and conversion cost.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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