4 SETS ACCT505
Devry University
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2022
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4 SETS ACCT505 MIDTERM EXAM 
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 cost. 
differential cost. 
QUESTIO...
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4 SETS ACCT505 MIDTERM EXAM
- Exam (elaborations) • 24 pages • 2022
-
- $11.89
- + learn more
4 SETS ACCT505 MIDTERM EXAM 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 cost. • differential cost. QUESTION 3: Inventoriable cost...
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