Accounting

A  Company mistakenly treated a $20,000 product cost as a period cost. They produced 2,000 units of product & sold 1,000 of them during the year.  In the year in which the mistake was made
A. net income will be too high. B. net income will be too low.
C. net income will be correct.

17)  When manufacturing products, DL & DM are classified as:
A. period costs & expensed when incurred.
B. period costs & expensed when the goods are sold.
C. product costs & expensed when incurred.
D. product costs & expensed when the goods are sold.

Don't use plagiarized sources. Get Your Custom Essay on
Accounting
Just from $13/Page
Order Essay

18)  Which of the following statements is true regarding the salary of the manager of a fast food hamburger restaurant?
A.  The salary is a fixed cost that is directly traceable to the cost of making hamburgers.
B.  The salary is a fixed cost that is directly traceable to the cost of operating a specific restaurant.
C.  The salary is a variable cost that cannot be traced to the cost of operating a specific restaurant.
D.  None of the above.

Place Order
Grab A 14% Discount on This Paper
Pages (550 words)
Approximate price: -
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Try it now!

Grab A 14% Discount on This Paper

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.