Question

On a separate sheet, list the following questions by number, and select the best answer for each question. Choose only one answer for each question 1. All of the following costs would be found in a company's accounting records except A) sunk cost. 8) opportunity cost. C) indirect costs. D) direct costs 2. The costs of the Accounting Department at Central Hospital would be considered by the Surgery Department to A) direct costs B) indirect costs C) incremental costs D) opportunity costs. 3. Which of the follo wing is classified as a direct labor cost? Wages of assembly Wages of a factory A) B) C) line workers No Yes superviso No Yes No 4. In a manufacturing company, direct labor costs combined with direct materials costs are known as: A) period costs B) conversion costs C) prime costs D) opportunity costs. 5. The property taxes on a factory building would be an example of Conversion Cost Yes No Yes No Prime Cost A) No B) Yes C) Yes D) No 8. The salary paid to the maintenance supervisor in a manufacturing plant is an example of Product Cost No Yes Yes No Manufacturing Overhead Yes No Yes No A)

Answer 1

As per HOMEWORKLIB RULES we answer one question per post. But I have answered multiple questions. Kindly post remaining questions in next post

Dear Student

Thank you for using homeworklib

Please find below the answer

Q1 b oppurtunity costs

Sinceoppurtubity costs are not incurred bythe company thus not found in accounting records

Q2b indirect costs

Since accounting costs would be admin costs as they are not directly related to surgery deptt and thus indirect costs

Q4 c prime costs

Direct material + direct labour = Prime costs