ACC 179 | Updates in Management Accounting Part 1

Student Activity Sheet Module #13

Name: _________________________________________________________________ Class number: _______

Section: ____________ Schedule: ________________________________________ Date: ________________

Quiz 3 Materials:
Writing Materials and Ballpen

Multiple Choice. Write the letter of the best answer.

1. A unit of quantity of product, service or time (or a combination of these) in relation to which costs
may be ascertained or expressed
a. Cost Center
b. Cost Unit
c. Cost
d. Sales Unit
2. A branch or division of a company that directly adds or is expected to add to the entire
organization's bottom line.
a. Profit Center
b. Cost Center
c. Sales Center
d. Production Center
3. Costs incurred during the accounting period but not attributable to the production of the product.
a. Period Cost
b. Sales Cost
c. Product Cost
d. Admin Cost
4. The manufacturing department of a company has control over the procurement of raw materials.
This is an example of:
a. Period Cost
b. Product Cost
c. Non-controllable Cost
d. Controllable Cost
5. Rent of manufacturing facility at 10,000 units and 25 units of production remains at P 45,000/month.
This cost is an example of:
a. Factory Overhead
b. Fixed Cost
c. Variable Cost

This document is the property of PHINMA EDUCATION

 ACC 179 | Updates in Management Accounting Part 1
Student Activity Sheet Module #13

Name: _________________________________________________________________ Class number: _______

Section: ____________ Schedule: ________________________________________ Date: ________________

d. Period Cost
6. A cost wherein you have to pay a base amount and have a variable payment based on the level of
production is an example of:
a. Fixed Cost
b. Variable Cost
c. Mixed Cost
d. Total Cost
7. Direct Materials and Direct Labor are components of
a. Prime Cost
b. Conversion Cost
c. Total Manufacturing Cost
d. Cost of Goods Manufactured
8. A linear cost function is an indication that the cost is:
a. Fixed
b. Variable
c. Mixed
d. None of the choices
9. Expenses that are constant for a given level of activity, but increase or decrease once a threshold is
crossed.
a. curvilinear cost
b. fixed cost
c. variable cost
d. step cost
10. An inventory control system tracks inventory in real-time. As soon as a product is sold, its barcode
is scanned and it is removed from a global inventory database. When one is received, it is scanned
and added to the inventory database. Each part of the system has access to the same database and
information.
a. Periodic Inventory System
b. Perpetual Inventory System
c. First-In First-Out System
d. Last-In First Out System

***end of quiz***

This document is the property of PHINMA EDUCATION