Question :The salary paid to the supervisor of an assembly line would normally be classified as:.
Has already been incurred and cannot be avoided so it is irrelevant for decision making.
Points Received:1 of 1
Comments:
2.Question :Current information for the Austin Company follows:
All raw materials used were traceable to specific batches of product. Austin Company’s cost of goods manufactured for the year is:
Student Answer: $125,800.
$128,600.
$131,400.
$137,000.
$139,000.
Points Received:1 of 1
Comments:
3.Question :The salary paid to the supervisor of an assembly line would normally be classified as:
Student Answer: Direct labor.
Indirect labor.
A period cost.
A general cost.
An assembly cost.
Points Received:1 of 1
Comments:
4.Question :Goods a company acquires to use in making products are called:
Student Answer: Cost of goods sold.
Raw materials inventory.
Finished goods inventory.
Goods in process inventory.
Conversion costs.
Points Received:1 of 1
Comments:
5.Question :Which of the following costs would not be classified as factory overhead?
Student Answer: Property taxes on maintenance machinery.
Expired insurance on factory equipment.
Wages of the factory janitor.
Metal doorknobs used on wood cabinets produced.
Small tools used in production.
Points Received:1 of 1
Comments:
6.Question :Which of the following are characteristic of all fraud?
Student Answer: It is done to provide direct or indirect benefit to the employee.
It violates the employee’s duties to his employer.
It costs the employer money.
It is secret.
Items A through D are all characteristics of fraud.
Points Received:1 of 1
Comments:
7.Question :Products that are in the process of being manufactured but are not yet complete are called:
Student Answer: Raw materials inventory.
Conversion costs.
Cost of goods sold.
Goods in process inventory.
Finished goods inventory.
Points Received:1 of 1
Comments:
8.Question :Total manufacturing costs incurred during the year do not include:
Student Answer: Direct materials used.
Factory supplies used.
Goods in process inventory, beginning balance.
Direct labor.
Depreciation of machinery.
Points Received:1 of 1
Comments:
9.Question :An attitude of constantly seeking ways to improve company operations, including customer service, product quality, product features, the production process, and employee interactions, is called:
Student Answer: Continuous improvement.
Customer orientation.
Just-in-time.
Theory of constraints.
Total quality measurement.
Points Received:1 of 1
Comments:
10.Question :A direct costs is a cost that is:
Student Answer: Identifiable as controllable.
Variable with respect to the volume of activity.
Fixed with respect to the volume of activity.
Traceable to a cost object.
Sunk with respect to a cost object.
Points Received:1 of 1
Comments:
Question :The salary paid to the supervisor of an assembly line would normally be classified as: