The selling price per unit less the variable cost per unit is the:

A$)$ fixed cost per unit

B$)$ gross margin

C$)$ margin of safety

D$)$ contribution margin per unit

$3.$ In Process Costing, before you can calculate the cost to produce a product.

you must determine what the:

A$)$ units that we a company produces during an accounting period.

B$)$ units that have been finished and placed in finished goods inventory.

C$)$ a method that assigns all cost to produce a product to a job during the

accounting period.

D$)$ equivalent units of production.

$4.$ What are conversion costs?

A$)$ A fixed cost. per unit.

B$)$ Raw Material and Direct Labor.

C$)$ Raw Material and Variable Cost.

D$)$ Direct Labor & Manufacturing overhead.

$5.$ ABC costing attempts to apply:

A$)$ all manufacturing costs more accurately.

B$)$ manufacturing overhead more accurately.

C$)$ both manufacturing overhead and nonmanufacturing overhead more

accurately.

D$)$ raw material, direct labor and manufacturing overhead more accurately.

only financial risks and opportunities

$6.$ Standard cost are used primarily for:

A$.$ Estimating future costs.

B$.$ To produce financial statements for external users.

C$.$ To judge the performance of accounting managers.

D$.$ To judge the performance of managers involved in the manufacturing

process.

$7.$ When evaluating capital projects, the following cost and revenues must be

taken in consideration:

A$.$ All total cost and revenues associated with each project.

B$.$ Only large cost and revenues that affect the project.

C$.$ Only those cost and revenues that can be identified to the project.

D$.$ Only relevant cost and relevant revenues associated with the projects.