Week 1 Part 1 Quiz Copy
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Question 1 of 7
1. Question
Choose the correct definition of a cost object.
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Question 2 of 7
2. Question
Distinguish direct costs from indirect costs.
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Question 3 of 7
3. Question
The following information applies to questions 3 and 4Best Breads manufactures two types of bread, which are sold as wholesale products to various speciality retail bakeries. It has three production departments: mixing, baking, and finishing. It uses mixing machines to prepare the dough for the breads. The mixing machines are cleaned whenever there is a switch in the type of bread for which the dough is mixed. Both types of breads are then baked using the same oven, but with different durations and temperatures of baking. The final step is finishing, which is an entirely manual process. The finishing department coats each loaf of bread with a special glaze, allows the bread to cool, and then carefully packages each loaf in a speciality carton for sale in retail bakeries.Four of the costs in curred by Best Breads are the following:(1) Depreciation of oven(2) Dough costs(3) Carton package costs(4) General maintenance of machines and buildingsWhich are direct and which are indirect costs with respect to the cost object ‘type of bread’?CorrectIncorrect -
Question 4 of 7
4. Question
Which are direct and which are indirect costs with respect to the cost object ‘finishing department’?
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Question 5 of 7
5. Question
When 10,000 units are produced, fixed costs are €15.00 per unit. The relevant range for the fixed costs ranges from 2,000 to 20,000 units. When total production increases to 15,000 units, fixed costs:
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Question 6 of 7
6. Question
When 10,000 units are produced, fixed costs are €15.00 per unit. The relevant range for the fixed costs ranges from 2,000 to 15,000 units. When total production increases to 20,000 units, fixed costs:
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Question 7 of 7
7. Question
Which of the following best describes cost allocation ?CorrectIncorrect