ACCT 203 Chapter Notes - Chapter 5: Sunk Costs, Variable Cost
25 May 2018
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ACCT 203 GMU Chapter 5 reviews
Which of the following types of companies would carry raw materials, work in
process, and finished goods inventory ?
manufacturer
The cost of oranges at a fruit juice manufacturer is an example of a cost from
which element of the value chain?
Production
A cost that can be traced to a cost object is known as a
direct cost
period costs are referred to as:
both- selling, general, and administrative expenses and operating expenses
Which of the following costs would be considered a direct cost of serving a
particular customer at a Mcdonlads restaurant?
the cost of the hamburger patty in the sandwich they ordered
Which of the following is not part of manufacturing overhead?
period costs: IM + IL+ other indirect materials
What are the three basic components of product cost?
DM+ DI+ MO
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Document Summary
Which of the following types of companies would carry raw materials, work in process, and finished goods inventory ? manufacturer. A cost that can be traced to a cost object is known as a direct cost period costs are referred to as: both- selling, general, and administrative expenses and operating expenses. Which of the following costs would be considered a direct cost of serving a particular customer at a mcdonlads restaurant? the cost of the hamburger patty in the sandwich they ordered. Which of the following is not part of manufacturing overhead? period costs: im + il+ other indirect materials. In computing cost of goods sold, which of the following is the manufacturer"s counterpart to the merchandiser"s purchase? cost of goods manufactured. Which of the following is irrelevant to business decisions? sunk costs. Fixed costs stay constant in total over a wide range of activity. Direct materials are considered to be a variable cost.
