Exam 2: Managerial Cost Concepts and Cost Behaviour Analysis

Examples of fixed costs include all but one of the following

Ranger Company reported total manufacturing costs of $65,000, manufacturing overhead totalling $13,000, and direct materials totalling $16,000.How much is direct labour cost?

Which one of the following is not another name for the term, manufacturing overhead?

Indirect materials and indirect labour are both period costs.

In which classification would the wages of a factory payroll clerk be classified?

Which one of the following is a product cost?

Inventoriable costs are also referred to as:

How does a manufacturing company classify sales commissions?

Into which one of the following accounts would the work of factory employees, that can be physically and directly associated with converting raw materials into finished goods, be categorized?

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

The relevant range can be commonly understood to mean

Variable costs are fixed on a per-unit basis and variable in total.

Which of the following statements is true?

A high-low approach to establishing fixed and variable components of costs is most effective when information available is:

Manufacturing overhead can be categorized as:

Use the following information for questions . -What is the equation of the line using the high-low method and this data?

Which beginning and ending inventories appear on a cost of goods manufactured schedule?

Which of the following would most likely be considered direct material?

Property taxes for the entire manufacturing facility, including the front office and factory area are

Mixed costs change in total, but not proportionately with the change in activity level.