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Cost Accounting Questions

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1. Total work-in-process during the period is the sum of the beginning work-in-process inventory and the total manufacturing costs incurred during the period.
True False

2. The variable cost per unit is defined to be constant despite changes in the volume of activity within the relevant range.
True False

3. Period costs are those costs assigned to units of production in the period in which they are incurred.
True False

4. Operating income is reported net of applicable income tax effects.
True False

5. A decrease in the margin of safety would be caused by a(n):
A. increase in the total fixed costs.
B. increase in total revenue (sales).
C. decrease in the break-even point.
D. decrease in the variable cost per unit.

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https://brainmass.com/business/accounting/cost-accounting-questions-units-346629

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1. Total work-in-process during the period is the sum of the beginning work-in-process inventory and the total manufacturing costs incurred during the period.
True False

2. The variable cost per unit is defined to be constant despite changes in the volume of activity within the relevant range.
True False

3. Period costs are those costs assigned to units of production in the period in which they are incurred.
True False

4. Operating income is reported net of applicable income ...

Solution Summary

The solution answers various cost accounting questions.

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