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Nonmanufacturing Overhead (Practice Quiz)

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Author:
Harold Averkamp, CPA, MBA

For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. For fill-in-the-blank questions, press or click on the blank space provided.

If you have difficulty answering the following questions, learn more about this topic by reading our Nonmanufacturing Overhead (Explanation).


1.
Selling expenses should be allocated to the cost of goods sold for external financial reporting.

True

Wrong.

False

Right!
2.
According to U.S. accounting principles, interest expense is an indirect product cost.

True

Wrong.

False

Right!
3.
SG&A is the acronym for __________ selling, general and administrative, __________ selling, general and administrative and __________ selling, general and administrative expenses.
4.
SG&A expenses are considered to be _______________ costs.

Period

Right!

Product

Wrong.
5.
Commissions expense is part of the cost of goods sold.

True

Wrong.

False

Right!
6.
SG&A expenses can vary between products and between customers.

True

Right!

False

Wrong.
7.
Activity based costing is recommended for the allocation of SG&A expenses in order to determine the ultimate profitability of a product or a customer.

True

Right!

False

Wrong.
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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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