UGBA 102B Midterm 1 Exam Questions And
Answers
Direct Cost -
correct answer ✅a cost that can be easily and conveniently traced
to a specified cost object
Indirect Cost -
correct answer ✅a cost that cannot be easily and conveniently
traced to a specified cost object
Product Cost -
correct answer ✅Direct Materials + Direct Labor + Manufacturing
Overhead
These are costs assigned to inventory.
Period Costs -
correct answer ✅Costs of resources used during the accounting
period, including selling, marketing, and administrative costs.
Selling Costs -
correct answer ✅Costs necessary to secure the order and deliver
the product.
