Which one of the following represents a period cost? a. Fringe benefits associated with factory workers. b. The VP of Sales' salary and benefits. C. Overhead allocated to the manufacturing operations. d. Labor costs associated with quality control.

Which of the following is a method used to allocate overhead costs based on the activities that drive those costs? A) Job costing B) Process costing C) Activity - based costing (ABC) D) Variable costing

Which of the following statements are true? I. In a job-order costing system, indirect labor is assigned to a job using information from the employee time ticket. II. If the allocation base in the predetermined overhead rate does not drive overhead costs, it will nevertheless provide reasonably accurate unit product costs because of the averaging process. III. In a job-order costing system, costs are traced to individual units of product. The sum total of such traced costs is called the unit product cost. Multiple Choice Only statement I is true. Statements I and II are true. Statements II and III are true. None of the statements are true.

Which of the following is an “indirect labor” cost? Wages paid to factory janitors and factory security guards. Salaries paid to human resources (HR) personnel. All of the listed choices are correct. Wages paid to factory employees who convert raw materials into work-in-process and finished goods. Sales salaries and commissions paid to salespeople.