Prepare an income statement for the year using absorption costing. Prepare an income statement for the year using variable costing.( Points: 30) Extra questions ================================================ ACCT 505 Midterm Exam( New) Set 2
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Prepare an income statement for the year using absorption costing. Prepare an income statement for the year using variable costing.( Points: 30) Extra questions ================================================ ACCT 505 Midterm Exam( New) Set 2
For more course tutorials visit www. uophelp. com
Multiple Choice 10 9 Essay 4 Question 1. Question:( TCO A) The variable portion of advertising costs is a Student Answer: Conversion YES... Period NO. Conversion YES.... Period YES. Conversion NO.... Period NO. Conversion NO.... Period YES. Question 2. Question:( TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a( n) Student Answer: period cost. incremental cost. opportunity cost. None of the above Question 3. Question:( TCO A) Property taxes on a company ' s factory building would be classified as a( n) Student Answer: variable cost. opportunity cost. period cost. product cost. Question 4. Question:( TCO C) Within the relevant range, variable costs can be expected to Student Answer: vary in total in direct proportion to changes in the activity level. remain constant in total as the activity level changes. increase on a per-unit basis as the activity level increases.