Version 7. Which of the tollowing Is the best example of a Tiwed cost? A. Materi

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Version 7. Which of the tollowing Is the best example of a Tiwed cost? A. Materials that cost 55 per unit over A Materials that cost $5 per unit for the first 500 pounds purchased then drop to $4.50 per pound the entire range of production C.Depreciation on factory machines computed on a straight line basis D. Depreciation on salesmen's cars computed based on the miles driven 8.Which of the following would be considered a period cost? Materials that cost $5 per unit over the entire range of production B. Materials that cost $5 per unit for the first 500 pounds purchased then drop to $4.50 per pound C. Depreciation on factory machines computed on a straight line basis D. Depreciation on salesmen's cars computed based on the miles driven 9.How many of the following items would be considered product costs? Materials that cost $5 per unit over the entire range of production Materials that cost $5 per unit for the first 500 pounds purchased then drop to $4.50 per pound. . Depreciation on factory machines computed on a straight line basis Depreciation on salesmen's cars computed based on the miles driven A. One B. Two ( Three D. Four EZero 0. Assume a company incurs $100,000 for total variable costs and $150,000 for total fixed costs to produce 10,000 units. What would the total cost be to produce 12,000 units? vaviable ros fert Vc 1 al costbeto produce 12,00 units?vaviable ros ferVce A $270,000 B.$300,000 C.$250,000 D.$280,00 E.Some other amount 11. Which of the following lists include only conversion costs? A Rent on space used by accountants, Rent on machines, Interest on Loans B. Rent on space used for production, Rent on machines, Direct Labor on space used for production, Direct Materials, Direct Labor D. Direct materials, direct labor, Indirect labor, indirect materials 12. For how many of the following businesses would it be appropriate to use job order rather than process costing? * A CPA firm with many different clients . A hospital *A construction firm with many clients A factory making identical plastic chairs for many different clients A factory making couches where its customer can select silk, leather, or corduroy fabrics A.One B. Two C. Three DFour E. Five

Explanation / Answer

7 Depreciation on factory machines computed on a straight line basis is a fixed cost 8 Depreciation on salesman's cars computed based on the miles driven is a period cost 9 Three, Both materials cost and Depreciation on factory machines would be product costs 10 Unit variable cost = 100000/10000 = $10 Total cost for 12000 units = (12000*10)+150000 =$270000 11 Rent on space udes for production, Rent on machines, Direct labor are conversion costs 12 Four, A CPA firm with many clients, A hospital, A contruction firm with many cleints, a factory making different couches would use job order costing.

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