Question : 31. Which of the following a product cost? A. Insurance factory machineryB. Insurance delivery : 1295536

 

31. Which of the following is a product cost? A. Insurance on factory machineryB. Insurance on delivery trucksC. Lease expense on office computerD. Advertising costs

32. Jasper Corporation incurred the following costs in April: 

Salesperson’s salaries

$40,000

 

Factory maintenance worker

$20,000

Factory insurance

12,000

 

Administrative utilities

4,000

Factory supervisor salary

30,000

 

Administrative supplies

1,000

Advertising

15,000

 

Delivery truck insurance

2,000

Factory machine operator

22,000

 

Factory machine depreciation

6,000

Direct materials used

25,000

 

Receptionist salary

18,000

 

 

 

 

 

Refer to the Jasper Corporation information above. Total product costs are: A. $130,000B. $155,000C. $115,000D. $117,000

 

33. Jasper Corporation incurred the following costs in April: 

Salesperson’s salaries

$40,000

 

Factory maintenance worker

$20,000

Factory insurance

12,000

 

Administrative utilities

4,000

Factory supervisor salary

30,000

 

Administrative supplies

1,000

Advertising

15,000

 

Delivery truck insurance

2,000

Factory machine operator

22,000

 

Factory machine depreciation

6,000

Direct materials used

25,000

 

Receptionist salary

18,000

 

 

 

 

 

Refer to the Jasper Corporation information above. Total period costs are: A. $86,000B. $38,000C. $40,000D. $80,000

 

34. The type of costing that takes into account costs incurred by all the activities throughout a product’s entire life is called: A. life-cycle costing.B. value-chain costing.C. full-costing.D. complete-costing.

 

35. The set of activities that increases the value of an organization’s products and services is called the: A. activity chain.B. value chain.C. profit chain.D. life chain.

 

36. Which of the following statements regarding life-cycle and/or product costing is true? A. Life-cycle costing is confined to direct materials, direct labor, and manufacturing overhead.B. Life-cycle costing would include research and development costs, advertising costs, and shipping costs.C. Product costing would include marketing and distribution costs.D. Product costing would include research and development costs, direct materials, direct labor, and manufacturing overhead.

 

37. Which of the following is an “upstream cost” in the value chain? A. Advertising costsB. Sales staff salariesC. Shipping costsD. Research and development costs

 

38. Which of the following is a “downstream cost” in the value chain? A. Research costsB. Shipping costsC. Production costsD. Product design costs

 

39. Products and their costs flow through a production facility in the following order: A. Work-in-process, finished goods, cost of goods soldB. Raw materials, work-in-process, finished goods, cost of goods soldC. Work-in-process, raw materials, cost of goods sold, finished goodsD. Work-in-process, cost of goods manufactured, cost of goods sold

 

40. Which of the following increases the work-in-process account? A. Cost of goods soldB. Raw material purchasedC. Administrative costsD. Raw material used

 

 

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