4. The standard direct material cost is equal to: A) Standard quantity × Actual price B) Actual quantity × Standard price C) Actual quantity × Actual price D) Standard quantity × Standard price E) None of the above 67 (A
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- 66. These are costs that vary in unit. a• Variable Cost b• Fixed Cost c• Mixed Cost d• Relevant CostConsider the following statements: (1) Total costs will equal the sum of fixed and variable costs. (2) Total costs will equal the sum of direct and indirect costs. Which of these statements is/are correct? A. 2 only OB. 1 only OC. Neither 1 nor 2 OD. 1 and 28. How is conversion cost per equivalent unit calculated?
- 49. The term relevant range as used in cost accounting means the range over which a• Cost may fluctuate b• Cost relationships are valid c• Production may vary d• Relevant costs are incurred.Kk.106. also what is the "total manyfacturing cost"23.In the formula y = a + bX, y represents a. total fixed cost b. total variable cost c. total cost d. variable cost per unit
- TP4. LO 8.3Is labor a true variable cost?When is the material quantity unfavorable? A. when the actual quantity used is greater than the standard quantity B. when the actual quantity used is less than the standard quantity C. when the actual price paid is greater than the standard price D. when the actual price is less than the standard priceWhich of the following statements is (are) true? (A) A price standard is the price that should be paid per the unit of output. (B) A quantity standard is the amount of input that should go into a single unit of the output
- 11. Which of the following material issue pricing method considers the prices as well as the quantities of materials purchased? a. Weighted average method b. FIFO method c. LIFO method d. Simple average method9. The point where the sales line and the total expense line intersects represents the A. profit point. B. contribution point. C. breakeven point. D. margin point.When is the material quantity unfavorable? A.When the actual quantity used is less than the standard quantity B.When the actual price is less than the standard price C.When the actual quantity used is greater than the standard quantity D.When the actual price paid is greater than the standard price