Midterm2019

School: Georgian College - Course: GNED MISC - Subject: Accounting

Cost Accounting 1 2019 Midterm (2 Hours) Student: ___________________________________________________________________________ Answer questions 1-5 on the test paper. Answer questions 6-9 in the test book provided. Insert your test paper in the test book when you hand in your midterm. Question MarkGrade 1-55 630 725 820 920 Total100

Questions 1-5 multiple choice. Circle the best answer (10 marks) 1.The advertising costs incurred by Pepsi to air its commercials during the hockey season can best be described as a: A. Variable cost. B. Fixed cost. C. Prime cost. D. Conversion cost. 2.Micro Computer Company has set up a toll-free telephone line for customer inquiries regarding computer hardware produced by the company. How would the cost of this toll-free line be classified? A. Product cost. B. Manufacturing overhead. C. Direct labour. D. Period cost. 3.How would the wages of factory maintenance personnel usually be classified? A. Direct labour and manufacturing overhead. B. Indirect labour and manufacturing overhead. C. Direct labour and period cost. D. Indirect labour and period cost