ACCT 505 Midterm Exam 4 Sets LATEST 2021 (ACCT505)
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ACCT 505 Midterm Exam 4 Sets LATEST 2021 (ACCT505)
- Exam (elaborations) • 22 pages • 2021
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Exam (elaborations) ACCT 505 Midterm Exam 4 Sets LATEST 2021 (ACCT505) 
ALL AC505 Week 4 Midterm 
SET 1 
QUESTION 1: 
Wages paid to a timekeeper in a factory are a: 
 Prime Cost YES.....Conversion Cost NO 
 Prime Cost YES.....Conversion Cost YES 
 Prime Cost NO....Conversion Cost NO 
 Prime Cost NO.....Conversion Cost YES 
QUESTION 2: 
A cost incurred in the past that is not relevant to any current decision is classified as a(n): 
 period cost. 
 opportunity cost. 
 sunk co...
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