ACC 227 ACC227 Module 2 Check Your Understanding Answers (AAU Online)

ACC 227 ACC227 Module 2 Check Your Understanding Answers (AAU Online)

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1.The practice of management accounting involves: 

2.Wages paid to workers who perform the work to transform materials into finished goods are called: 

3.Insurance on the factory building would be part of which type of cost: 

4.Which type of cost is normally incurred for the benefit of several segments?

5.Another term for incremental costs is: 

6.In terms of cost behavior, direct materials costs are: 

7.In a manufacturing company, advertising expense would best be classified as a: 

8.A cost that is not affected by a future decision is termed: 

9.Assume that Gronen Company has total variable costs of $180,000 when 60,000 units are sold.  If 100,000 units were sold, total variable costs would be: 

10.Costs of manufacturing products can be broken down into what three elements?

11.Units that have completed the production process and are ready for sale to customers are called: 

12.A company that produces posters customized to customer specifications would probably use which method of product costing?

1 3.Raw material inventory is credited: 

14.Cost of goods sold is debited when: 

15.At year end, a company has a debit balance in the overhead account.  This means that: 


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