Property taxes on a company’s factory building would be classified as a(n): a. Product cost b. Opportunity cost c. Period cost d. Variable cost e. Administrative cost f. Selling cost
Q: Insurance expense incurred on a factory building would be treated as a a. selling cost b. period…
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A: Product costs are related to manufacturing and are part of cost of inventory.
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A: Cost: It can be defined as the total amount that is spent by a business in manufacturing a product
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Q: which one of the following is not an example of a committed fixed cost
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A: Variable cost is such type of cost which changes with the changes in units produced. Fixed cost…
Q: Which of the following costs would be considered a period rather than a product cost in a…
A: The product costs are the costs that are directly or indirectly related to the production process.…
Q: Who among the following is not a cost of a product? The expense of the company's fuel. The cost of…
A: Product cost: Product cost is the cost which incurred to manufacture a product. It means it is a…
Q: Which of the following costs would be included in the cost of a manufactured product according to…
A: Under variable costing method, only variable cost considered and included in production cost and…
Q: The largest expense of most manufacturing firms is? a. Salaries Expense b. Amortization Expense c.…
A: Correct answer is D Cost of goods sold
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A: Direct product cost is the cost incurred to manufacture a product that can be directly…
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Q: Who of the agreed in advance is not a cost of the product? The cost of the factory's fuel The…
A: Product cost:- Product cost is the cost which incurred to manufacture a product. It means it is a…
Q: 2 set 2
A: Fixed cost and variable cost:
Q: Which of the following is an example of a cost that varies in proportion to changes in the activity…
A: Packaging costs is the variable cost which varies with the total output. It will increase with the…
Q: Which one of the following is not an example of a committed fixed cost? a. The salary of the deputy…
A: Fixed cost refers to those cost which do not change with increase or decrease in production…
Q: Which one of the following is an example of a discretionary fixed cost? a. The depreciation cost of…
A: A discretionary fixed costs are those fixed which are avoidable for some shorter period and these…
Q: Costs that are treated as assets until the product is sold are called O A. Conversion cost B.…
A: The correct answer in the given question is: (D) Product Costs
Q: Revenue from sales of the by-product can be listed in the income statement as: a. additional cost…
A: Revenue from sale of by product is shown in the income statement as an additional sales revenue…
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A: Period cost: It can be defined as the cost that is not directly related to the process of…
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A: Repairs and Maintenance Expense: The cost that is paid to guarantee that an asset continues to…
Q: Which of the following is not an example of a cost that varies in total as the number of units…
A: Option a is correct. As the production happens there is usage of machinery which will increase the…
Q: In a make or buy decision, the relevant costs include variable manufacturing costs as well as A.…
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Q: Which one of the following is not an example of a committed fixed cost? O a. None of the given…
A: Introduction:- Fixed costs incurred irrespective of the manufacturing or sales level. Costs such as…
Q: Which of the following would not be classified as manufacturing overhead? a.indirect labor…
A: Product costs are the cost associated with the making of a product. They include direct materials…
Q: a) Using the equation method, calculate the normal capacity of the business. b) Calculate: i) the…
A: Following information has been given about the company: Selling price per unit…
Q: Which one of the following discretionary fixed cost? The salary of the deputy manager of the factory…
A: Discretionary cost is the cost can be eliminated or reduced without at the discretion of the…
Q: Which can be considered a product cost in a manufacturing company
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A: Support department costs are the costs incurred in the support department which are allocated to the…
Q: Which of the following is a part of Prime Cost? a. Direct Labour b. Indirect Wages c. Rent of…
A: Prime cost includes all the direct costs such as direct material, direct labor, and direct expenses.…
Q: Indicate with a check mark whether each of the following would be a product cost or a period cost…
A: Product cost is any cost incurred for the production of the products , thus all costs up to the time…
Q: Use the information to prepare a schedule of cost of goods manufactured and an income statement.…
A: The income statement is the financial statement prepared by the business entities to ascertain the…
Q: The property tax on the building that houses the manufacturing facility of a company is: * A period…
A: Introduction: Product cost: The cost incurred for creation of a product called as product cost.…
Q: Which of the following is an example of a variable cost? a.Insurance on the production equipment…
A: Variable cost are those cost which changes according to the level of Production. In other words in…
Q: ich one of the following is not an example of a committed fixed cost? a. None of the given answers.…
A: Committed Fixed Cost:- These are that fixed cost which does not change or mold easily and can not be…
Q: Which of the following statements is correct using the direct costing concept? a. All manufacturing…
A: Residual income is calculated as : =Net operating income - (Assets/investment * minimum rate of…
Q: Which of the cost below is not classified as fixed cost? a) Depreciation of machine b)…
A: Fixed cost is the cost which remains fixed irrespective of actual production .
Q: lease solve this MCQs How would property taxes paid on a factory building be classified in a…
A: Fixed costs: Fixed costs are the predetermined expenses that remain costant throughout a specific…
Q: Consider the following costs that were incurred during the current year and determine whether the…
A: Product costs are the costs incurred in manufacturing the product. So, this include direct…
Q: Period costs include: a. current liabilities on the balance sheet b. operating costs that are shown…
A: Period costs are costs other than Product Costs incurred by an entity. These Costs generally include…
Q: Insurance expense incurred on a factory building would be treated as a a.period cost b.selling cost…
A: Introduction: The sum paid by a corporation to get an insurance contract, as well as any additional…
Q: Which one of the following is an example of a discretionary fixed cost? O a. The property taxes of…
A: Discretionary fixed cost means that cost which is up to our discretion whether to spent it or not .…
Q: Indicate whether each of the following should be considered a product cost or a period cost. I you…
A: Direct costs: Costs which are directly traceable to the product called direct cost. Example : Direct…
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- For which cost concept used in applying (he cost-plus, approach to product pricing are fixed manufacturing costs, fixed selling and administrative expenses, and desired profit allowed for in determining the markup? A. Total cost B. Product cost C. Variable cost D. Standard costWhich of the following is a prime cost? A. indirect materials B. direct labor C. administrative expenses D. factory depreciation expensesThe property tax on the building that houses the manufacturing facility of a company is: * A period cost An opportunity cost A product cost A variable cost
- The largest expense of most manufacturing firms is?a. Salaries Expenseb. Amortization Expensec. Rent Expensed. Cost of Goods SoldIndicate whether each cost is: A. Fixed or Variable b. Selling, General/Administrative, or ManufacturingWhich of the following is a part of Prime Cost? a. Direct Labour b. Indirect Wages c. Rent of Factory d. Depreciation on Plant
- Which of the following income is considered while preparing cost sheet? O a. Interest received O b. Sale proceeds of factory scrap C.Discount received O d. Dividend receivedWhich one of the following is a fixed cost? a. Raw material costs b. Salary with commission c. Amortization d. Labour costswhich one is correct please confirm? There are three categories of costs: fixed costs, variable costs and semi-variable costs. Which of the following is a semi-variable cost? a. depreciation b. raw materials c. labor costs d. management salaries
- The amount of a unit’s sales price that helps to cover fixed expenses is its ________.A. contribution marginB. profitC. variable costD. stepped costWhich of the following is not included in the calculation of the lifecycle cost of a product? 1.Disposal Cost 2.Opportunity Cost 3.Retirement Cost 4.Construction CostInsurance expense incurred on a factory building would be treated as a a.period cost b.selling cost c.direct cost d.product cost
