Question 1

Expenditures that flow directly to the current income statement and are not reported as assets are ________ costs.

Accepted Answer

The answer of Expenditures that flow directly to the current...

Question 2

What is managerial accounting and how is it used to aid decision makers?

Accepted Answer

Managerial accounting is an activity tha

Question 3

________ is the process of setting goals and making plans to achieve them.

Accepted Answer

The answer of ________ is the process of setting goals...

Question 4

A schedule of cost of goods manufactured is also known as a:

Accepted Answer

A)  Raw materials processed schedule. 
B)  Factory supplies used schedule. 
C)  Manufacturing statement. 
D)  Total finished goods statement. 
E)  Cost of goods sold schedule. 
A)  Raw materials processed schedule. 
B)  Factory supplies used schedule. 
C)  Manufacturing statement. 
D)  Total finished goods statement. 
E)  Cost of goods sold schedule.

Question 5

Straight-line depreciation, rent, and manager salaries are examples of variable costs.

Accepted Answer

A) True 
 B)False

Question 6

There are many differences between financial and managerial accounting. Identify and explain at least three of these differences.

Accepted Answer

The differences include: (1) Users and d

Question 7

Selling and administrative expenses are normally period costs.

Accepted Answer

A) True 
 B)False

Question 8

Calculate Cost of Goods Sold for the following two companies:

Accepted Answer

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Question 9

Period costs are incurred by purchasing merchandise or manufacturing finished goods.

Accepted Answer

A) True 
 B)False

Question 10

Costs may be classified by many different cost classifications.

Accepted Answer

A) True 
 B)False

Expenditures that flow directly to the current income statement and are not reported as assets are ________ costs.

What is managerial accounting and how is it used to aid decision makers?

________ is the process of setting goals and making plans to achieve them.

A schedule of cost of goods manufactured is also known as a:

Straight-line depreciation, rent, and manager salaries are examples of variable costs.

There are many differences between financial and managerial accounting. Identify and explain at least three of these differences.

Selling and administrative expenses are normally period costs.

Calculate Cost of Goods Sold for the following two companies:

Period costs are incurred by purchasing merchandise or manufacturing finished goods.

Costs may be classified by many different cost classifications.

Job Order Costing and Analysis

Process Costing and Analysis

Activity Based Costing and Analysis

Cost Behavior Cost-Volume-Profit Analysis

Variable Costing and Analysis

Master Budgets and Performance Planning

Flexible Budgets and Standard Costs

Performance Measurement and Responsibility Accounting

Relevant Costing for Managerial Decisions

Capital Budgeting and Investment Analysis

Reporting Cash Flows

Analysis of Financial Statements

Time Value of Money

Analyzing for Business Transactions

Partnership Accounting

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Exam 1: Managerial Accounting Concepts and Principles

Expenditures that flow directly to the current income statement and are not reported as assets are ________ costs.

What is managerial accounting and how is it used to aid decision makers?

________ is the process of setting goals and making plans to achieve them.

A schedule of cost of goods manufactured is also known as a:

Straight-line depreciation, rent, and manager salaries are examples of variable costs.

There are many differences between financial and managerial accounting. Identify and explain at least three of these differences.

Selling and administrative expenses are normally period costs.

Calculate Cost of Goods Sold for the following two companies:

Period costs are incurred by purchasing merchandise or manufacturing finished goods.

Costs may be classified by many different cost classifications.

Job Order Costing and Analysis

Process Costing and Analysis

Activity Based Costing and Analysis

Cost Behavior Cost-Volume-Profit Analysis

Variable Costing and Analysis

Master Budgets and Performance Planning

Flexible Budgets and Standard Costs

Performance Measurement and Responsibility Accounting

Relevant Costing for Managerial Decisions

Capital Budgeting and Investment Analysis

Reporting Cash Flows

Analysis of Financial Statements

Time Value of Money

Analyzing for Business Transactions

Partnership Accounting

Filters