Ch 6,8, 9 Exam 2 Review Flashcards
1
Q
T/F Variable Costing treats FMOH as a product cost
A
False
2
Q
T/F Variable Costing treats FMOH as a period cost
A
True
3
Q
T/F Variable Costing treats sales commissions as a product cost
A
False- sales commissions are an SG&A cost
4
Q
T/F Absorption costing treats FMOH as a period cost
A
False
5
Q
Dollar sales for a segment to break even=
A
Segment traceable fixed expenses/segment contribution margin (CM) ratio
6
Q
Variable costing product cost=
A
DM, DL, VMOH
7
Q
Standard Direct Material cost per unit of finished goods=
A
Standard quantity per unit of finished goods X Standard price per unit of DM
8
Q
The standard cost card does not explicitly mention
A
Standard Indirect Materials
9
Q
Labor rate variance=
A
commuted using actual work hours
