Exam 1 day 2 review #1

Question 1

A __________ cost is avoidable in a decision.

Answer 1

Relevant - Walking or driving to get to class

Question 2

Unavoidable in a decision

Answer 2

Irrelevant Cost - Tuition

Question 3

Varies between 2 choices

Answer 3

differential cost

Question 4

Contribution Format I/S is organized by _________.

Answer 4

behavior

Question 5

Which of the following is not considered a product cost?

Advertising Expense
Wood used to make table
Labor cost to assemble table
Salary of Factory Supervisor

Answer 5

Advertising Expense

Question 6

EU Ending WIP

Answer 6

of units * % completion

Question 7

EU Production

Answer 7

EU Transferred + EU Ending WIP