(Solved): 4. Manufacturing costs typically consist of a. direct materials, direct labor, and manufacturing o ...

4. Manufacturing costs typically consist of a. direct materials, direct labor, and manufacturing overhead. b. production and shipping costs. c. production and marketing costs. d. direct materials, direct labor, and administrative costs. e. direct materials. direct labor. marketing and administrative sosts. 5. In comparison to the traditional manufacturing environment, overhead costs in a ?T environment all the following are true except: a. are more easily tracked to products. b. are frequently direct in nature. c. include rent, insurance and utilities. d. most of the costs are likely to be indirect in nature. e. labor need not be tracked to the product. 6. As production increases within the relevant range, a. variable costs will vary on a per unit basis. b. variable costs will vary in total. c. fixed costs will vary in total. d. fixed and variable cost stay the same in total. e. none of the other four answers is true. 7. You are given the cost and volume information below: \( \begin{array}{lr}\text { Volume } & \frac{\text { Cost }}{5 \text { unit }} \\ 10 \text { units } & 150 \\ 100 \text { units } & 1500\end{array} \) What rype of a cost is given? a. fixed cost b. variable cost c. step cost d. mixed cost c. rent cost. 8. Which of the following statements regarding graphs of fixed and variable costs is true? a. Variable costs can be represented by a straight line where costs are the same for each data point. b. Fixed costs can be represented by a straight line starting at the origin and continuing through each data point. c. Fixed costs are zero when production is equal to zero. d. Variable costs are zero when production is equal to zero. e. Fixed and Variable costs are curvilinear form above zero on the " \( \mathrm{Y} \) " axis. 9. All of the following statements regarding budgeting is true except a. Budgeting helps managers determine the resources needed to meet their goals and objectives. b. Budgeting is a key ingredient in good decision-making. c. Budgeting is a bookkeeping task d. The focus of budgeting is planning. e. Budgeting is an executive responsibility.