Identify the cost classification - costs that change directly in proportion to changes in

activity or volume in production.*

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variable costs
 
finished goods inventory
work in process inventory
raw materials inventory
general and administrative costs
product costs
fixed costs
marketing costs

 
Identify the cost classification - under a manufacturing business, these are units of
product that are partially complete.*
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direct materials
manufacturing overhead
raw materials inventory
nonmanufacturing costs
finished goods inventory
product costs
indirect materials
other manufacturing overhead
marketing costs
general and administrative costs
work in process inventory
 
 
Identify the cost classification - under a manufacturing business, these are materials
that are used to make a product.*
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product costs
direct materials
 
raw materials inventory
nonmanufacturing costs
manufacturing overhead
indirect materials
marketing costs
other manufacturing overhead
finished goods inventory
general and administrative costs
work in process inventory

Correct answer
raw materials inventory

 
Identify the cost classification - costs that remain unchanged for a given period of time
regardless of change in activity or volume in production.*
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variable costs
general and administrative costs
fixed costs
 
raw materials inventory
marketing costs
work in process inventory
product costs
finished goods inventory

 
Identify the cost classification - the value of the best alternative foregone as a result of
selecting a different use of resource or by choosing a particular strategy.*
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work in process inventory
fixed costs
general and administrative costs
variable costs
standard costs
historical costs
opportunity costs
 
raw materials inventory
product costs
finished goods inventory
marketing costs

 
Identify the cost classification - all costs associated with the production of goods.*
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marketing costs
nonmanufacturing costs
general and administrative costs
manufacturing overhead
indirect materials
direct materials
other manufacturing overhead
direct labor
 
manufacturing costs
indirect labor

Correct answer
manufacturing costs

 
Identify the cost classification - costs related to selling and other activities not related to
the production of goods.*
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direct labor
other manufacturing overhead
marketing costs
direct materials
general and administrative costs
indirect materials
nonmanufacturing costs
 
manufacturing overhead
indirect labor
manufacturing costs

 
Identify the cost classification - all raw material costs that become an integral part of the
finished product and can be conveniently and economically assigned to specific units
manufactured.*
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marketing costs
manufacturing costs
indirect labor
indirect materials
direct materials
 
manufacturing overhead
direct labor
nonmanufacturing costs
general and administrative costs
other manufacturing overhead

 
Identify the cost classification - the third element of manufacturing cost which include all
costs of manufacturing except for direct material and direct labor.*
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direct materials
nonmanufacturing costs
general and administrative costs
manufacturing costs
manufacturing overhead
 
direct labor
indirect materials
indirect labor
marketing costs
other manufacturing overhead

 
Identify the cost classification - it include other factory costs like factory plant
maintenance, machinery and tool maintenance, property taxes and insurance,
depreciation on plant equipment and others.*
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indirect materials
direct labor
manufacturing costs
direct materials
manufacturing overhead
 
nonmanufacturing costs
other manufacturing overhead
general and administrative costs
indirect labor
marketing costs

Correct answer
other manufacturing overhead

 
Identify the cost classification - it include supervision, inspection, maintenance,
personnel and material handling costs related to labor that cannot be identified or traced
to specific units manufactured.*
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indirect materials
direct labor
manufacturing costs
manufacturing overhead
marketing costs
indirect labor
 
other manufacturing overhead
general and administrative costs
nonmanufacturing costs
direct materials

 
Identify the cost classification - costs that include all executive, organizational and
clerical costs associated with general management of the organization rather than with
manufacturing, marketing or selling.*
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other manufacturing overhead
indirect labor
manufacturing costs
nonmanufacturing costs
general and administrative costs
 
marketing costs
direct materials
indirect materials
manufacturing overhead
direct labor

 
Identify the cost classification - under a manufacturing business, these are units of
product that are 100% complete but have not yet been sold to customers.*
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marketing costs
finished goods inventory
 
general and administrative costs
raw materials inventory
nonmanufacturing costs
direct materials
other manufacturing overhead
manufacturing overhead
product costs
work in process inventory
indirect materials

 
Identify the cost classification - a predetermined cost estimate that should be attained;
usually expressed in terms of costs per unit.*
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raw materials inventory
standard costs
 
general and administrative costs
marketing costs
fixed costs
variable costs
product costs
work in process inventory
finished goods inventory

 
Identify the cost classification - all costs that are involved in acquiring or making a
product; also called inventoriable costs.*
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other manufacturing overhead
marketing costs
direct materials
product costs
 
indirect materials
direct labor
nonmanufacturing costs
manufacturing overhead
indirect labor
general and administrative costs

 
Identify the cost classification - future costs that are different under one decision
alternative than under another decision alternative.*
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variable costs
relevant costs
 
product costs
standard costs
work in process inventory
opportunity costs
historical costs
finished goods inventory
general and administrative costs
marketing costs
fixed costs
raw materials inventory

 
Identify the cost classification - all labor costs related to time spent on products that can
be conveniently and economically assigned to specific units manufactured.*
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manufacturing costs
indirect labor
direct materials
indirect materials
nonmanufacturing costs
manufacturing overhead
marketing costs
direct labor
 
other manufacturing overhead
general and administrative costs

 
Identify the cost classification - all costs that are identified with accounting periods and
not included in inventoriable costs.*
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other manufacturing overhead
direct labor
marketing costs
direct materials
nonmanufacturing costs
product costs
 
general and administrative costs
period costs
indirect labor
indirect materials
manufacturing overhead

Correct answer
period costs

 
Identify the cost classification - costs that were incurred in the past period.*
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raw materials inventory
finished goods inventory
general and administrative costs
variable costs
fixed costs
marketing costs
work in process inventory
historical costs
 
product costs
standard costs

 
Identify the cost classification - costs associated with marketing or selling a product or
all costs incurred by the marketing division from the time the manufacturing process is
completed until the product is delivered to the customer.*
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indirect labor
marketing costs
 
manufacturing overhead
indirect materials
manufacturing costs
general and administrative costs
nonmanufacturing costs
direct materials
other manufacturing overhead
direct labor

 
Identify the cost classification - it include materials and supplies used in the
manufacturing operation that do not become part of the product.*
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manufacturing overhead
indirect materials
 
general and administrative costs
manufacturing costs
indirect labor
direct labor
other manufacturing overhead
nonmanufacturing costs
marketing costs
direct materials