Reference no: EM132971533

Problem 1: Period costs include all selling and administrative costs, both variable and fixed.

True

False

Problem 2: A manufacturing company's cost of goods sold includes only product costs.

True

False

Problem 3: Managerial accounting is governed by rules issued by the AICPA

True

False

Problem 4: Smith Company sells a single product at a selling price of $30 per unit. Variable costs are $12 per unit and fixed costs are $14,000. Smith's break-even point in either unit or sales dollars is

Option 1: 1,380 units.

Option 2: $69,000.

Option 3: 3,450 units.

Option 4: $207,000.

Option 5: none of these.