BUS 215 FINAL EXAM

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BUS 215 FINAL EXAM

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2024/2025

Institution BUS 215

Course BUS 215

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BUS 215 FINAL EXAM Costs and Revenues that differ between alternatives are NOT relevant and should not be considered in decision making. TRUE OR FALSE - CORRECT ANSWER-False Fixed Costs will vary in total but not on a per unit basis. TRUE OR FALSE - CORRECT ANSWER-False Which of the following are the major 3 elements of product costs in a manufacturing company? - CORRECT ANSWER-Direct Materials Direct Labor Manufacturing Overhead Which of the following is true about a mixed cost? - CORRECT ANSWER-It will decrease on a per unit basis as activity increases. Variable Costs... - CORRECT ANSWER-are always the same on a per unit basis within the relevant range Manufacturing Overhead - CORRECT ANSWER-cannot be directly traced to a particular cost object Which of the following is true about a direct cost? - CORRECT ANSWER-Direct costs include Direct Labor and Direct Materials Which is true about the Cost of Goods Sold for a Merchandising (Non-manufacturing) Company? - CORRECT ANSWER-It is calculated as Beginning Inventory + Merchandise Purchases - Ending Inventory The Contribution Margin of a particular product.... - CORRECT ANSWER-is equal to the Sales Price less the Variable Costs of the product A sunk cost... - CORRECT ANSWER-cannot be changed by any decision made now or in the future

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Uploaded on: June 19, 2025
Number of pages: 30
Written in: 2024/2025
Type: Exam (elaborations)
Contains: Questions & answers

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