QUESTION 52 If making 20 customized cards uses $20 in material, $20 in hourly wages and $10 in desk rental space, what is the average cost per unit (card)? $2.50 $2.00 $1.50 $1.00 QUESTION 49 Montana company was authorized to issue 85,000 shares of common stock. The company had issued 30,000 shares of stock when it purchased 4500 shares of Treasury stock. The number of outstanding shares of common stock was: 80,500 34,500 25,500 30,000 QUESTION 44 Costs can be assets or expenses O True False QUESTION 43 Selling and administrative costs are normally: expensed in the period in which they are incurred O part of the product cost and expensed Part of the product cost and are an asset none of the above QUESTION 42 Which of the following examples illustrates elements of product costs: Raw materials Labor cost that can easily be traced to products Overhead cost related to manufacturing All of the above