Question : 37) R&D costs treated as period costs because ________. A) : 1211942

 

37) R&D costs are treated as period costs because ________.

A) these costs may increase revenues in the current period

B) these costs may increase revenues in the future period

C) these costs may decrease revenues in the current period

D) these costs are expensed when the goods are sold

 

38) For an automobile manufacturer, period costs include the cost of ________.

A) the dashboard

B) labor used for assembly

C) advertising

D) assembly-line equipment

 

39) Period costs ________.

A) include only fixed costs

B) seldom influence financial success or failure

C) include the cost of selling, delivering, and after-sales support for customers

D) should be treated as an indirect cost rather than as a direct manufacturing cost

 

40) Period costs ________.

A) are treated as expenses in the period they are incurred

B) are directly traceable to products

C) are treated as expenses in the following period they are incurred

D) are also referred to as manufacturing overhead costs

41) Inventoriable costs are costs of a product that are ________.

A) costs of a product that are considered assets in a company’s balance sheet when the costs are incurred and that are expensed as cost of goods sold only when the product is sold

B) considered liabilities in a company’s balance sheet when the costs are incurred and that are expensed only when the product is sold

C) considered as assets in a company’s income statement when the costs are capitalized and that are expensed as cost of goods sold only when the product is sold

D) considered as liabilities in a company’s income statement when the costs are capitalized and that are expensed only when the product is sold

 

42) Costs expensed on the income statement in the accounting period incurred are called ________.

A) direct costs

B) indirect costs

C) period costs

D) inventoriable costs

 

43) In the cost classification system used by manufacturing firms, assembly workers’ wages would be included in ________.

A) irrelevant cost

B) direct manufacturing costs

C) indirect manufacturing costs

D) period cost

 

44) Total manufacturing costs is comprised of ________.

A) direct materials costs and period costs

B) direct materials costs, direct manufacturing labor costs, and manufacturing overhead costs

C) indirect materials costs, indirect manufacturing labor costs, and manufacturing overhead costs

D) prime costs and period costs

Answer the following questions using the information below:

 

Zephyr Apparels is a clothing retailer. Unit costs associated with one of its products, Product DCT121, are as follows:

Direct materials$ 70

Direct manufacturing labor20

Variable manufacturing overhead15

Fixed manufacturing overhead32

Sales commissions (2% of sales)5

Administrative salaries16

Total$158

 

45) What are the inventoriable costs per unit associated with Product DCT121?

A) $137

B) $140

C) $143

D) $88

 

46) What are the period costs per unit associated with Product DCT121?

A) $4

B) $16

C) $21

D) $52

 

 

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