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  • MAS Chapter 1 MC Part 1

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    The document contains 7 multiple choice questions about classifying and assigning costs. The questions cover topics such as the purposes of assigning costs, definitions of cost objects and different types of costs like direct costs, indirect costs, and overhead. The correct answers are d, a, b, d, a, a, and d respectively.

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    Managerial Accounting MC

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    The document contains 7 multiple choice questions about classifying and assigning costs. The questions cover topics such as the purposes of assigning costs, definitions of cost objects and different types of costs like direct costs, indirect costs, and overhead. The correct answers are d, a, b, d, a, a, and d respectively.

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    © All Rights Reserved
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    9 views1 page

    MAS Chapter 1 MC Part 1

    Uploaded by

    reon
    The document contains 7 multiple choice questions about classifying and assigning costs. The questions cover topics such as the purposes of assigning costs, definitions of cost objects and different types of costs like direct costs, indirect costs, and overhead. The correct answers are d, a, b, d, a, a, and d respectively.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Chapter 1 KEY ANSWER

    1. Which of the following are the purposes why costs are assigned to cost objects?
    a. Pricing
    b. preparing profitability studies
    c. controlling spending
    d. all of the above

    2. It is anything for which cost data are desired.


    a. Cost object
    b. Cost
    c. Object
    d. All of the above

    3. For purposes of assigning costs to cost objects, costs are classified as either
    a. Raw materials or Manufacturing overhead
    b. Direct costs or Indirect costs
    c. Direct materials or indirect materials
    d. Any of the above

    4. It is a cost that can be easily and conveniently traced to a specified cost object.
    a. Indirect cost
    b. Direct materials
    c. Indirect materials
    d. Direct costs

    5. It is a cost that cannot be easily and conveniently traced to a specified cost object.
    a. Indirect costs
    b. Indirect materials
    c. Common costs
    d. Any of the above

    6. It is a cost that is incurred to support a number of cost objects but cannot be traced to them individually.
    a. Indirect costs
    b. Indirect materials
    c. Common costs
    d. Any of the above

    7. The following are the costs classification of a manufacturing company except


    a. Direct materials
    b. Direct costs
    c. Direct labor
    d. Factory overhead

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