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Question 12 Direct costs pertain to costs that: a

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Question 12 Direct costs pertain to costs that: a

are traceable to a cost object. b. are not traceable to a cost object. c. are commonly incurred. d. are variable costs.

Question 13 Product costs are inventoried and treated as assets until: a. the next accounting period. b. related liabilities no longer exist. c. the period in which the products they relate to are sold. d. none of these.

Question 14 An example of a cost that is likely to have a direct relationship with products being manufactured: a. sales force salaries. b. depreciation of production equipment. c. salaries of production supervisors. d. production labor costs.

The exception is: offer and acceptance

Question 15 The contribution margin format income statement is organized by: a. responsibility centers. b. functional classifications. c. sales territories. d. cost behavior classifications. Question 16 Common costs pertain to costs that: a. are directly traceable to a cost object. b. are not directly traceable to a cost object. c. are commonly incurred. d. are direct costs.

Question 17 The three components of product costs are: a. (more…)