q1. In a process costing system, the entry to record the use of direct materials in production would include which of the following?

Select one:

a.

Debit to finished goods inventory

b.

Credit to finished goods inventory

c.

Debit to work in process inventory

d.

Debit to raw materials inventory

q2. Which of the following statements is NOT correct?

Select one:

a.

The total fixed cost is constant throughout the relevant range of activity.

b.

The breakeven point increases if variable costs increase.

c.

The margin of safety increases if fixed costs decrease.

d.

The mixed cost per unit is constant throughout the relevant range of activity.

q3. An electric bill for corporate headquarters is an example of what type of cost?

Select one:

a.

Variable cost

b.

Conversion cost

c.

Fixed cost

d.

Mixed cost