Question 1

Chicago Steel's operating activities for the year are listed below.
 
What is the gross profit for the year?

Accepted Answer

A) $50,000 
B) $750,000 
C) $1,500,000 
D) $100,000 
A) $50,000 
B) $750,000 
C) $1,500,000 
D) $100,000

Question 2

The costs associated with reengineering machinery and its location within the factory to increase efficiency would be considered which element of the value chain?

Accepted Answer

A) Customer service 
B) Marketing 
C) Research and development 
D) Design 
A) Customer service 
B) Marketing 
C) Research and development 
D) Design

Question 3

The activities in the value chain must take place in a specific order.

Accepted Answer

A) True 
 B)False

Question 4

Joe's Bottling Company provided the following expense information for July:
 
What is the total cost of research and development?

Accepted Answer

A) $55,000 
B) $68,000 
C) $65,000 
D) $188,000 
A) $55,000 
B) $68,000 
C) $65,000 
D) $188,000

Chicago Steel's operating activities for the year are listed below. What is the gross profit for the year?

The costs associated with reengineering machinery and its location within the factory to increase efficiency would be considered which element of the value chain?

The activities in the value chain must take place in a specific order.

Joe's Bottling Company provided the following expense information for July: What is the total cost of research and development?

Introduction to Managerial Accounting

Job Costing

Activity-Based Costing, lean Operations, and the Costs of Quality

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evaluation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Sustainability

Filters

Exam 2: Building Blocks of Managerial Accounting

Chicago Steel's operating activities for the year are listed below. What is the gross profit for the year?

The costs associated with reengineering machinery and its location within the factory to increase efficiency would be considered which element of the value chain?

The activities in the value chain must take place in a specific order.

Joe's Bottling Company provided the following expense information for July: What is the total cost of research and development?

Introduction to Managerial Accounting

Job Costing

Activity-Based Costing, lean Operations, and the Costs of Quality

Process Costing

Cost Behavior

Cost-Volume-Profit Analysis

Relevant Costs for Short-Term Decisions

The Master Budget

Performance Evaluation

Standard Costs and Variances

Capital Investment Decisions and the Time Value of Money

Statement of Cash Flows

Financial Statement Analysis

Sustainability

Filters