Reference no: EM13991848
QUESTION 1
Managerial accounting applies to each of the following types of businesses except
service firms.
merchandising firms.
manufacturing firms.
managerial accounting applies to all types of firms.
QUESTION 2
Managerial accounting does not encompass
calculating product cost.
calculating earnings per share.
determining cost behavior.
profit planning.
QUESTION 3
What activities and responsibilities are not associated with management's functions?
Planning
Accountability
Controlling
Directing
QUESTION 4
A materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is
Work In Process Inventory 66,000
Raw Materials Inventory 66,000
Direct Materials 66,000
Indirect Materials 9,000
Work in Process Inventory 75,000
Manufacturing Overhead 75,000
Raw Materials Inventory 75,000
Work In Process Inventory 66,000
Manufacturing Overhead 9,000
Raw Materials Inventory 75,000
QUESTION 5
Which one of the following is a source document that impacts the job cost sheet?
Raw materials receiving slips.
Materials purchase orders.
Labor time tickets.
Finished goods shipping documents.
QUESTION 6
Equivalent units are calculated by
multiplying the percentage of work done by the equivalent units of output.
dividing physical units by the percentage of work done.
multiplying the percentage of work done by the physical units.
dividing equivalent units by the percentage of work done.
QUESTION 7
In a process cost system, product costs are summarized:
on job cost sheets.
on production cost reports.
after each unit is produced.
when the products are sold.
QUESTION 8
In traditional costing systems, overhead is generally applied based on
direct labor.
machine hours.
direct material dollars.
units of production.
QUESTION 9
Fixed costs normally will not include
property taxes.
direct labor.
supervisory salaries.
depreciation on buildings and equipment.
QUESTION 10
Companies recognize fixed manufacturing overhead costs as period costs (expenses) when incurred when using
full costing.
absorption costing.
product costing.
variable costing.
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Total expenses of maintaining the condominium
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Review and reflect on the sectors-assets and vulnerabilities
: What were the most compelling points from the interaction with your fellow students and how did participating in this discussion help in your understanding of the Discussion Board task?
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Legal age and none lives in the household
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Determining the other household costs
: Victor gives his mother, Maria, $10,000 a year to help pay for her food, rent, and other household costs. Her only income is $8,000 in Social Security benefits.
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Source document that impacts the job cost sheet
: What activities and responsibilities are not associated with management's functions?
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What average force do you exert on the piston
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Problem regarding the sources of income
: Megan's father has no sources of income. During the year, Megan pays all of her father's support. He is a citizen and resident of Australia.
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Problem regarding the preparation of anthony
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How far from the center should
: You are hanging weights from a ruler suspended in the center. If you hang a 100g weight 10cm from the center of a ruler, how far from the center should a 50 gram weight be hung to keep the ruler balanced?
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