True/False Questions Please help.

____ 11. Costs other than direct materials cost and direct labor cost incurred in the manufacturing process are classified as factory overhead cost.

____ 15. Direct labor costs are included in the conversion costs of a product.

____ 17. A cost that will not be affected by later decisions is termed an opportunity cost.

___ 18. When manufactured goods are sold, their costs are transferred from Work in Process to Finished Goods.

____ 19. In preparing a master budget, once the sales budget is prepared, the production budget is normally prepared next.

____ 20. Currently attainable standards do not allow for reasonable production difficulties.

___ 24. ____ 24. The primary accounting tool for controlling and reporting for cost centers is a budget performance report.

____ 25. The dollars available from each unit of sales to cover fixed cost and profit is the unit variable cost.

___ 34. The excess of divisional income from operations over a minimum amount of desired income from operations is termed the residual income.

___ 35. Responsibility accounting reports for profit centers are normally in the form of income statements.