Acct 6003 Module 1 Exam Newest 2026 Questions and
Correct Detailed Answers Already Graded A+
Which of the following equations is used to calculate cost of goods sold during the
period? - CORRECT ANSWER-Beginning finished goods + cost of goods
manufactured − ending finished goods.
When 22,000 units are produced variable costs are $38 per unit and total costs
are $1,323,000. What are the total costs when 27,000 units are produced? -
CORRECT ANSWER-$1,513,000.
Depreciation of factory equipment would be classified as: - CORRECT
ANSWER-manufacturing overhead.
Guaranteed Appliance Co. produces washers and dryers in an assembly-line
process. Labor costs incurred during a recent period were: corporate executives,
$525,000; assembly-line workers, $172,000; security guards, $52,000; and plant
supervisor, $122,000. The total of Guaranteed's direct labor cost was: -
CORRECT ANSWER-$172,000.
, If direct materials used during the year were $149,000, what was cost of goods
manufactured? - CORRECT ANSWER-$572,500.
=149,000-57,000+62,500+429,000
Which of the following inventories would a discount retailer report as an asset? -
CORRECT ANSWER-Merchandise inventory.
How would a 5% sales commission paid to sales personnel be classified in a
manufacturing company? - CORRECT ANSWER-Variable, period cost
Which of the following is a product cost? - CORRECT ANSWER-Circuitry used in
producing hard drives
As activity increases, unit variable cost: - CORRECT ANSWER-remains constant.
Cost data that are classified and recorded in a particular way for one purpose may
be inappropriate for another use. For example, costs that would likely be
noncontrollable by a department supervisor include - CORRECT ANSWER-
insurance on the plant where the department is housed.
Correct Detailed Answers Already Graded A+
Which of the following equations is used to calculate cost of goods sold during the
period? - CORRECT ANSWER-Beginning finished goods + cost of goods
manufactured − ending finished goods.
When 22,000 units are produced variable costs are $38 per unit and total costs
are $1,323,000. What are the total costs when 27,000 units are produced? -
CORRECT ANSWER-$1,513,000.
Depreciation of factory equipment would be classified as: - CORRECT
ANSWER-manufacturing overhead.
Guaranteed Appliance Co. produces washers and dryers in an assembly-line
process. Labor costs incurred during a recent period were: corporate executives,
$525,000; assembly-line workers, $172,000; security guards, $52,000; and plant
supervisor, $122,000. The total of Guaranteed's direct labor cost was: -
CORRECT ANSWER-$172,000.
, If direct materials used during the year were $149,000, what was cost of goods
manufactured? - CORRECT ANSWER-$572,500.
=149,000-57,000+62,500+429,000
Which of the following inventories would a discount retailer report as an asset? -
CORRECT ANSWER-Merchandise inventory.
How would a 5% sales commission paid to sales personnel be classified in a
manufacturing company? - CORRECT ANSWER-Variable, period cost
Which of the following is a product cost? - CORRECT ANSWER-Circuitry used in
producing hard drives
As activity increases, unit variable cost: - CORRECT ANSWER-remains constant.
Cost data that are classified and recorded in a particular way for one purpose may
be inappropriate for another use. For example, costs that would likely be
noncontrollable by a department supervisor include - CORRECT ANSWER-
insurance on the plant where the department is housed.
