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Introduction to Managerial Accounting, 8e Peter C. Brewer tb (1)

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Introduction to Managerial Accounting, 8e (Brewer) Chapter 1 Managerial Accounting and Cost Concepts 1) A factory supervisor's salary would be classified as an indirect cost with respect to a unit o ... f product. Answer: TRUE Difficulty: 2 Medium Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measurement 2) A direct cost is a cost that can be easily traced to the particular cost object under consideration. Answer: TRUE Difficulty: 1 Easy Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Remember AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measurement 3) A cost can be direct or indirect. The classification can change if the cost object changes. Answer: TRUE Difficulty: 2 Medium Topic: Cost Classifications for Assigning Costs to Cost Objects Learning Objective: 01-01 Understand cost classifications used for assigning costs to cost objects: direct costs and indirect costs. Bloom's: Understand AACSB: Reflective Thinking AICPA: BB Critical Thinking; FN Measuremen [Show More]

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