1. (TCO 1) Performance reports often compare current period performance with A- Performance in a prior period. B- Planned (budgeted) performance. C- Both A and B are correct. D- Neither A nor B is correct. 2. (TCO 1) Which of the following is not likely to be a fixed cost? A- Direct materials B- Rent C- Depreciation D- Salary of the human resources director 3. (TCO 2) Which of the following is a manufacturing cost? A- Direct material B- Advertising expense C- Depreciation of the office equipment used by the sales staff D- Salary of the company president 4. (TCO 2) A form used to accumulate the cost of producing an item is called a(n) A- job-cost sheet B- material requisition C balance sheet D- invoice 5. (TCO 3) Why do we compute equivalent units differently for raw materials and conversion costs? A- Raw materials are more difficult to count B- Conversion costs are more difficult to count C- They are introduced into the process at different times D- None of the above