Exam 1: Managerial Accounting Concepts and Principles
Exam 1: Managerial Accounting Concepts and Principles250 Questions
Exam 2: Job Order Costing and Analysis217 Questions
Exam 3: Process Costing and Analysis230 Questions
Exam 4: Activity Based Costing and Analysis220 Questions
Exam 5: Cost Behavior Cost-Volume-Profit Analysis247 Questions
Exam 6: Variable Costing and Analysis201 Questions
Exam 7: Master Budgets and Performance Planning213 Questions
Exam 8: Flexible Budgets and Standard Costs222 Questions
Exam 9: Performance Measurement and Responsibility Accounting208 Questions
Exam 10: Relevant Costing for Managerial Decisions117 Questions
Exam 11: Capital Budgeting and Investment Analysis159 Questions
Exam 12: Reporting Cash Flows239 Questions
Exam 13: Analysis of Financial Statements233 Questions
Exam 14: Time Value of Money84 Questions
Exam 15: Analyzing for Business Transactions250 Questions
Exam 16: Partnership Accounting179 Questions
Select questions type
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Duerr Company follows: Beginning raw materials inventory \ 8,000 Ending raw materials inventory 11,000 Raw material purchases 85,000 Beginning work in process inventory 20,000 Ending work in process inventory 30,000 Direct labor 110,000 Total factory overhead 85,000 Beginning finished goods inventory 60,000 Ending finished goods inventory 40,000 The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:
(Multiple Choice)
4.8/5
(40)
The Work in Process Inventory account is found only in the ledgers of merchandising companies.
(True/False)
4.8/5
(36)
The balanced scorecard aids in continuous improvement by augmenting financial measures with information on the drivers or indicators of future financial performance.
(True/False)
4.8/5
(34)
________ reveals how many times a company uses its raw materials inventory in production during a period.
(Short Answer)
4.9/5
(35)
A National Quality Award that encourages an emphasis on quality was established by:
(Multiple Choice)
4.7/5
(33)
The main goal of the lean business model is the elimination of waste while satisfying the customer and providing a positive return to the company.
(True/False)
4.9/5
(41)
One of the main differences between the calculation of cost of goods sold for a merchandiser and that of a manufacturer is that the calculation includes cost of goods purchased for the merchandiser, but the manufacturer replaces that with ________.
(Short Answer)
4.7/5
(35)
Using the information below, calculate the cost of goods manufactured for the period: 

(Multiple Choice)
4.9/5
(42)
Use the following data to compute total factory overhead costs for the month: 

(Multiple Choice)
4.8/5
(48)
Using the information below for Singing Dolls, Inc., determine cost of goods manufactured for the year: Work in Process, January 1 50,000 Work in Process, December 31 37,000 Total Factory overhead 5,500 Direct materials used \ 12,500 Direct labor used 26,500
(Multiple Choice)
4.9/5
(31)
An employee overstates his reimbursable expenses in one period in order to receive needed additional cash. Since he intends to reduce his expenses the next period by the current overstatement, this act is not considered fraudulent.
(True/False)
4.9/5
(38)
The schedule of cost of goods manufactured is also known as a manufacturing statement.
(True/False)
4.8/5
(36)
The management concept of customer orientation motivates a company to spend large amounts on advertising to convince customers to buy the company's standard products.
(True/False)
4.9/5
(39)
A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's:
(Multiple Choice)
4.9/5
(47)
Direct costs are incurred for the benefit of more than one cost object.
(True/False)
4.7/5
(39)
The ________ aids continuous improvement by augmenting financial measures with information on the drivers or indicators of future financial performance along four dimensions: (1) financial, (2) customer, (3) internal business processes, and (4) learning and growth.
(Short Answer)
4.8/5
(31)
Beginning finished goods inventory plus cost of goods manufactured equals cost of goods sold.
(True/False)
4.8/5
(40)
Comet Company accumulated the following account information for the year: Beginning raw materials inventory $6,000
Indirect materials cost 2,000 Indirect labor cost 5,000 Maintenance of factory equipment 2,800 Direct labor cost 7,000 Using the above information, total factory overhead costs would be:
(Multiple Choice)
4.8/5
(36)
Beginning finished goods inventory plus cost of goods manufactured minus ending finished goods inventory equals cost of goods sold.
(True/False)
4.9/5
(30)
Showing 41 - 60 of 250
Filters
- Essay(0)
- Multiple Choice(0)
- Short Answer(0)
- True False(0)
- Matching(0)