Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer.

Which of the following should NOT be included as part of manufacturing overhead at a company that makes office furniture? sheet steel in a file cabinet made by the company.manufacturing equipment depreciation.idle time for direct labor.taxes on a factory building.

Question 24: 1 pts Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer. Which one of the following statements is correct? Rossiter Company failed to record a credit sale at the end of the year, although the reduction in finished goods inventories was correctly recorded when the goods were shipped to the customer. Which one of the following statements is correct?

1. Accounts receivable was not affected, inventory was not affected, sales were understated, and cost of goods sold was understated.
2. Accounts receivable was understated, inventory was overstated, sales were understated, and cost of goods sold was overstated.
3. Accounts receivable was not affected, inventory was understated, sales were understated, and cost of goods sold was understated.
4. Accounts receivable was understated, inventory was not affected, sales were understated, and cost of goods sold was not affected.

Question 25: 1 pts If the cost of goods sold is greater than the cost of goods manufactured, then: If the cost of goods sold is greater than the cost of goods manufactured, then:

1. work in process inventory has decreased during the period.
2. finished goods inventory has increased during the period.
3. total manufacturing costs must be greater than cost of goods manufactured.
4. finished goods inventory has decreased during the period.

Question 26: 1 pts Skip to question text.Last month, when 10,000 units of a product were manufactured, the cost per unit was $60. At this level of activity, variable costs are 50% of total unit costs. If 10,500 units are manufactured next month and cost behavior patterns remain unchanged the:

1. total variable cost will remain unchanged.
2. fixed costs will increase in total.
3. variable cost per unit will increase.
4. total cost per unit will decrease.

Question 27: 1 pts Variable cost: Variable cost:

1. increases on a per unit basis as the number of units produced increases.
2. remains constant on a per unit basis as the number of units produced increases.
3. remains the same in total as production increases.
4. decreases on a per unit basis as the number of units produced increases.

Question 28: 1 pts Within the relevant range, the difference between variable costs and fixed costs is: Within the relevant range, the difference between variable costs and fixed costs is:

1. variable costs per unit fluctuate and fixed costs per unit remain constant.
2. variable costs per unit are constant and fixed costs per unit fluctuate.
3. both total variable costs and total fixed costs are constant.
4. both total variable costs and total fixed costs fluctuate.

Question 29: 1 pts Which of the following statements regarding fixed costs is incorrect? Which of the following statements regarding fixed costs is incorrect?

1. Expressing fixed costs on a per unit basis usually is the best approach for decision making.
2. Fixed costs expressed on a per unit basis will react inversely with changes in activity.
3. Assumptions by accountants regarding the behavior of fixed costs rest heavily on the concept of the relevant range.
4. Fixed costs frequently represent long-term investments in property, plant, and equipment.

Question 30: 1 pts An opportunity cost is: An opportunity cost is:

1. the difference in total costs which results from selecting one alternative instead of another.
2. the benefit forgone by selecting one alternative instead of another.
3. a cost which may be saved by not adopting an alternative.
4. a cost which may be shifted to the future with little or no effect on current operations.

Question 31: 1 pts Which of the following costs is often important in decision making, but is omitted from conventional accounting records? Which of the following costs is often important in decision making, but is omitted from conventional accounting records?

1. Fixed cost.
2. Sunk cost.
3. Opportunity cost.
4. Indirect cost.

Question 32: 1 pts When a decision is made among a number of alternatives, the benefit that is lost by choosing one alternative over another is the: When a decision is made among a number of alternatives, the benefit that is lost by choosing one alternative over another is the:

1. realized cost.
2. opportunity cost.
3. conversion cost.
4. accrued cost.

Question 33: 1 pts Conversion cost consists of which of the following?

1. Manufacturing overhead cost.
2. Direct materials and direct labor cost.
3. Direct labor cost.
4. Direct labor and manufacturing overhead cost.

Question 34: 1 pts Which one of the following costs should NOT be considered an indirect cost of serving a particular customer at a Dairy Queen fast food outlet?

1. the cost of the hamburger patty in the burger they ordered.
2. the wages of the employee who takes the customer’s order.
3. the cost of heating and lighting the kitchen.
4. the salary of the outlet’s manager.

Question 35: 1 pts Skip to question text.Green Company’s costs for the month of August were as follows: direct materials, $27,000; direct labor, $34,000; sales salaries, $14,000; indirect labor, $10,000; indirect materials, $15,000; general corporate administrative cost, $12,000; taxes on manufacturing facility, $2,000; and rent on factory, $17,000. The beginning work in process inventory was $16,000 and the ending work in process inventory was $9,000. What was the cost of goods manufactured for the month?

1. $105,000
2. $132,000
3. $138,000
4. $112,000