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 .