Cascadia community college ACCT203 Quiz (ch. 18)

Jul 28th, 2016
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Question 1. Costs that flow directly to the current income statement are called: Award: 1 out of 1.00 point Period costs. Balance sheet costs. Product costs. Capitalized costs. General costs. 2. Which of the following items are management concepts that were created to improve companies' performances? Award: 1 out of 1.00 point Total quality management. Customer orientation. Continuous improvement. Just-in-time manufacturing. All of the above are ways that management can improve companies' performances. 3. Factory overhead costs normally include all of the following except: Award: 1 out of 1.00 point Factory rent. Indirect material costs. Machinery oil. Selling costs. Indirect labor costs. 4. Which of the following costs would not be classified as factory overhead? Award: 1 out of 1.00 point Property taxes on maintenance machinery. Metal doorknobs used on wood cabinets produced. Wages of the factory janitor. Expired insurance on factory equipment. Small tools u

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Cascadia community college ACCT203 Quiz (ch. 18)Report this Question as InappropriateQuestion1. Costs that flow directly to the current income statement are called:Award: 1 out of 1.00 pointPeriod costs.Balance sheet costs.Product costs.Capitalized costs.General costs.2. Which of the following items are management concepts that were created to improvecompanies' performances?Award: 1 out of 1.00 pointTotal quality management.Customer orientation.Continuous improvement.Just-in-time manufacturing.All of the above are ways that management can improve companies' performances.3. Factory overhead costs normally include all of the following except:Award: 1 out of 1.00 pointFactory rent.Indirect material costs.Machinery oil.Selling costs.Indirect labor costs.4. Which of the following costs would not be classified as factory overhead?Award: 1 out of 1.00 pointProperty taxes on maintenance machinery.Metal doorknobs used on wood cabinets produced.Wages of the factory janitor.Expired insurance on factory equipment.Small tools used in production.5. The three major cost components of a manufactured product are:Award: 1 out of 1.00 pointGeneral, selling, and administrative costs.Direct materials, direct labor, and factory overhead.Differential costs, opportunity costs, and sunk costs.Marketing, selling, and administrative costs.Indirect labor, indirect materials, and miscellaneous factory expenses.6. Managerial accounting is different from financial

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