isc = Tanta University faculty of Commerce Accounting Department Firat exam: Fundamentals of Cost Accounting 7 Dates 23 January 2022 Professor: Hatem Mohamed EL-Shishini 2 hours Total Marks: $i) Marks No, of pages: 6 Instructions: For each of the following questions, select the best choice and shade the letter corresponding to your choice in the answer sheet provided. You must use pencil and fully cover the he following questions in the answer sheet provided. letter in the answer shect and write your name and 1D number. 1 Which of the following is NOT an example of a cost object? a.aProduct bs can activity — d. a- department 2. represents the resources given up that are expected (o bring a current or future benefit (o the organization. a. Cost b. Expired cost 6. Expense 4. Loss 3. Direct costs 4. are incurred for the benefit of the business as a whole. 6. would continue even if a particular product were discontinued. c. can be assigned to products only by a process of allocation. Que those costs that can be easily and accurately traced to a cost object. ___ refers to the assignment of indirect costs to cost obje: c. Physical observation d. Cost management 4. a. Allocation b Direct tracing, 5. Which of the following costs is an example of product costs b. nonfactory office salaries ~~ a. selling commissions ireet materials 4, advertising expense 6. Which of the following costs is a period cost for a manufacturing company? a. controlter’s salary b. wages of machine operators © insurance on factory equipment d. fringe benefits for factory employees 7 Ina traditional manufacturing company, product costs include a. direct materials only. rect materials, direct labor. and factory overhead. ¢. direct materials and direct labor only. d.direct labor only _. 8, Allof the follow ing costs are included in factory overhead EXCEPT b.indirect labor. c. plant foreman's salary, 4. direct labor. a. factory supplies. 9. Selling and administrative costs are classified as a, product costs. b. conversion costs. Getied ost d. factory overhead. b.only direct labor. 2 10. Prime product costs include a. only factory overhead.