Exam 18: Introduction to Managerial Accounting

Bartel Corporation produces bar stools for restaurants. For each of the following, indicate whether the cost would typically be considered a direct or indirect cost for the cost object given. -The factory supervisor's salary for the bar stool factory

For each of the following, indicate whether the cost would typically be considered a product or period cost for the cost object given. -Direct materials used

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Cupcake mix

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Depreciation expense-office

Which of the following would least likely be considered a managerial accounting report?

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Salesperson commissions

The phases of the management process are listed below. Match each phase to the appropriate description. -Managers must continually choose among alternative actions

For each of the following, indicate whether the cost would typically be considered a product or period cost for the cost object given. -Factory utilities

Which of the following accounts will be found on the income statement?

An example of a period cost is

For each of the following costs, classify them as either: -Utilities on administrative facilities

A company used $35,000 of direct materials, incurred $73,000 in direct labor cost, and had $114,000 in factory overhead costs during the period. If beginning and ending work in process inventories were $28,000 and $32,000, respectively, the cost of goods manufactured was

Period costs include direct materials and direct labor.

Product costs

For each of the following costs, classify them as either: -Utilities on factory building

For each of the following costs, classify them as either: -Labor for machine maintenance

Use the information below for Jensen Company to answer the questions that follow. ​ Direct materials used \ 345,000 Direct labor incurred 250,000 Factory overhead incurred 400,000 Operating expenses 175,000 -Jensen Company's product costs are

Which of the following is most associated with managerial accounting?

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Baker's wages

The following are some of the costs incurred by a cake factory. Identify them as either: -Baker's wages