Determining the disposal value from the costs of the spoiled goods accumulated to the point of inspection equals     Select one: a. the net cost of spoilage. b. the net cost of scrap. c. the net cost of discarded goods. d. the net cost of reworked goods.

Which type of quality cost is the cost incurred as a result of rectifying substandard products? A. Appraisal costs B. Internal failure costs C. External failure costs D. Prevention costs

Describe cost depletion and percentage depletion. Whyis the percentage depletion method permitted?

The cost of is not included in the cost of production a. Abnormal loss b. Direct costs c. Normal loss d. Scrap

The cost of inventories include all of the following, except A. Selling cost B. Costs of purchase C. Costs of conversion D. Other costs incurred in bringing the inventories to their present condition or location.

5 Costs of normal spoilage are usually accounted for as Select one: a. part of the cost of goods manufactured b. a liability in the balance sheet c. an asset in the balance sheet d. a separate line item in the income statement e. part of the cost of goods sold

Which of the following is TRUE regarding the costs of toxic waste disposal, reclamation, and remediation that result from joint production processing? Select one: a. Toxic waste costs are a life-cycle cost that should be added to joint production costs prior to allocation. b. Disposal costs should be expensed, other costs charged to cost of goods sold. c. Toxic waste costs are treated in the same manner byproduct costs. d. All toxic waste costs should be expensed as do not form part of the product. e. The costs should be valued in inventory at net realizable value.

Which of the following costs is relevant in deciding whether to accept a bid to sell obsolete items remaining in inventory?   A .Direct materials cost of producing the units B. Engineering costs for design of the units C. Shipping costs D. Product-testing costs

What is meant by depreciation for the cost approach?

Which of the following would be considered a sunk cost? a. purchase price of new equipment b. warehouse lease expense c. equipment rental for the production area d. net book value of equipment that has no market value