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Exam 2: Managerial Cost Concepts and Cost Behaviour Analysis

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Question 51

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Outside of the relevant range, which of the following outcomes is unlikely?

A) It may be difficult for management to change all fixed costs.
B) Achieving cost efficiency may be difficult.
C) Total fixed costs will not change.
D) At a 0% activity level all fixed costs will cease.

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Question 52

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Which of the following could be considered either a product or a period cost depending on the purpose?

A) manufacturing overhead
B) direct labour
C) indirect materials
D) depreciation

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Question 53

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If you want to know the amounts a company used to calculate, 'cost of goods manufactured,' where would you look?

Which one of the following would not be classified as manufacturing overhead?

Examples of fixed costs include all but one of the following:

Inventoriable costs are also referred to as

Ending finished goods inventory

Which of the following are considered product costs?

The relevant range can be commonly understood to mean

Fees for office cleaning and maintenance in a factory are

Manufacturing overhead can be categorized as

Which of the following are period costs?

Use the following information for questions $\begin{array}{c}\begin{array}{l}\\\text { Month } \\\text { Jan } \\\text { Feb } \\\text { Mar } \\\text { Apr } \\\text { May } \\\text { Jun } \\\text { Jul } \\\text { Aug }\end{array}\begin{array}{l}\text { Labour }&\text { Overhead } \\ \underline{\text { Hours (X) }}& \underline{\text { Costs (Y) }}\\200 & \$ 415 \\175 & \$ 385 \\290 & \$ 520 \\300 & \$ 534 \\185 & \$ 403 \\265 & \$ 490 \\160 & \$ 372 \\320 & \$ 564\end{array}\end{array}$ -What is the slope of this data, using the high-low method?

Hooter Manufacturing Company reported the following year-end information: $\begin{array}{c}\begin{array}{l}\text {Beginning work in process inventory}\\\text {Beginning raw materials inventory}\\\text {Ending work in process inventory}\\\text {Ending raw materials inventory}\\\text {Raw materials purchased}\\\text {Direct labour}\\\text {Manufacturing overhead}\end{array}\begin{array}{lll}\$75,000\\20,000\\73,000\\23,000\\220,000\\170,000\\80,000\end{array}\end{array}$ $\text { How much is Hoater Manufacturing's cost of goods manufactured for the year? }$

A company incurred manufacturing costs that were product costs, but they are not classified as either direct materials or direct labour.What are these called?

Which of the following would most likely be included in manufacturing overhead?

A company uses sandpaper in its production process.How is the cost of the sandpaper classified?