Acct 515 Mideterm

Grading Summary
These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Date Taken: 11/25/2012
Time Spent: 2 h , 18 min , 12 secs
Points Received: 143 / 150 (95.3%)

Question Type: # Of Questions: # Correct:
Multiple Choice 10 9
Short 1 N/A
Essay 3 N/A

Grade Details - All Questions
Page: 1 2

1. Question : (TCO A) Wages paid to an assembly line worker in a factory are a

Student Answer: Prime Cost YES.....Conversion Cost NO.

Prime Cost YES.....Conversion Cost YES.

Prime Cost NO....Conversion Cost NO.

Prime Cost NO.....Conversion Cost YES.

Instructor Explanation: Chapter 2

Points Received: 0 of 6 Comments:

2. Question : (TCO A) A cost incurred in the past that is not relevant to any current decision is classified as a(n)

Student Answer: period cost.

incremental cost.

opportunity cost.

None of the above

Instructor Explanation: Chapter 2

Points Received: 6 of 6 Comments:

3. Question : (TCO A) Depreciation of office buildings and office equipment is also known as

Student Answer: variable costs.

conversion costs.

product costs.

period costs.

Instructor Explanation: Chapter 2

Points Received: 6 of 6 Comments:

4. Question : (TCO A) When the activity level is expected to increase within the relevant range, what effects would be anticipated with respect to each of the following?

Student Answer: Fixed costs per unit increase and variable costs per unit increase.

Fixed costs per unit decrease and variable costs per unit do not change.

Fixed costs per unit do not change and variable costs per unit do not change. Fixed costs per unit do not change and variable costs per unit increase. Instructor Explanation: Chapter 5

Points