Chapter One: Managerial Accounting

4 Questions | Total Attempts: 56

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Accounting Quizzes & Trivia

Review for Exam 1


Questions and Answers
  • 1. 
    Classify each cost as a product or a period cost. Wages for production workers:  
    • A. 

      Product cost

    • B. 

      Period cost

  • 2. 
    Classify each cost as a product or a period cost. Wages for production supervisor:
    • A. 

      Product cost

    • B. 

      Period cost

  • 3. 
    Classify each cost as a product or a period cost. Wages for accounting department workers:
    • A. 

      Product cost

    • B. 

      Period cost

  • 4. 
    Under a _____________ _____________ ____________, the income statements of a merchandiser and a manufacturer differ in the cost of goods sold section