Team MKJ
Cost Accounting Challenge
Test your knowledge on cost accounting with our engaging quiz designed for students, teachers, and anyone looking to sharpen their financial skills.
Topics covered include:
- Product vs. Period Costs
- Manufacturing Overhead
- Direct and Indirect Costs
- Understanding Hidden Mickeys!
Which of the following costs are considered a period rather than a product cost in a manufacturing company
Direct material cost
Sales commission
Electrical costs to light the production facility
Manufacturing equipment depreciation
Which of the following costs are variable with respect to the number of shoes sold at an outlet store
Cost of shoes
Store cashiers' wages
Electricity cost of the store
None
These are costs that can be easily traced to a unit of product
Common cost
Indirect cost
Direct cost
Product cost
These are indirect costs incurred to support a number of cost objects
Overhead
Common costs
Direct costs
Indirect costs
These are examples of manufacturing overhead EXCEPT
Property taxes
Utility cost
Insurance premiums incurred to operate a manufacturing facility
All are manufacturing overhead
These are organizational and clerical costs
Administrative costs
Selling costs
Manufacturing overhead cost
Product cost
This includes all the costs that are involved in acquiring or making a product
Selling cost
Product cost
Labor cost
None of the above
Product costs include the following EXCEPT
Raw materials
Work in process
Finished goods costs
All are product costs
What is the total number of hidden Mickeys in Team MKJ's slides?
3
4
5
6
What is the total number of hidden Mickeys in Team MKJ's slides?
3
4
5
6
What is the total number of hidden Mickeys in Team MKJ's slides?
3
4
5
6
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