COMM 305 CHAPTER 2 FINAL EXAM 2023 CONCORDIA UNIVERSITY
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Course
COMM 305
Institution
Concordia University (
)
COMM 305 CHAPTER 2 FINAL EXAM 2023 CONCORDIA UNIVERSITY
CHAPTER 2
Question 1
Correct answer. Your answer is correct.
Both direct material cost and indirect material cost are product costs.
Entry field with correct answer
True
False
Question 2
Your answer is correct.
...
comm 305 chapter 2 final exam 2023 concordia university
both direct material cost and indirect material cost are product costs
raw materials are equal to direct materials
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COMM 305
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COMM 305 CHAPTER 2 FINAL
EXAM 2023 CONCORDIA
UNIVERSITY
CHAPTER 2
Question 1
Correct answer. Your answer is correct.
Both direct material cost and indirect material cost are product costs.
Entry field with correct answer
True
False
Question 2
Your answer is correct.
Raw materials are equal to direct materials.
True
False
Question 3
Your answer is correct.
The total cost of a finished product generally contains equal amounts of material, labour, and
manufacturing overhead costs.
True
,False
, Question 4
Your answer is correct.
Indirect materials and indirect labour are both period costs.
True
F
a
l
s
e
Question 5
Your answer is correct.
Product costs are inventoriable costs.
True
False
Question 6
Your answer is correct.
Fixed costs appear to vary on a per-unit basis but are fixed in total.
True
False
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