Exam 2: Building Blocks of Managerial Accounting

London Plastics has monthly fixed costs of $92,500, while its variable costs are $4.10 per unit. If the sales price of a unit is $14.25 and London Plastics sell 14,800 units, the company's total sales revenue will be

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

Selected financial information for Brookeville Manufacturing is presented in the following table (000s omitted). What was the cost of direct materials used?

Variable costs

Inventoriable product costs for a manufactured product include

Manufacturing companies usually have three types of inventory.

Selected financial information for Greek Food Producers is presented in the following table (000s omitted). What was the cost of direct materials used?

Country Furniture Company manufactures furniture at its Akron, Ohio, factory. Some of its costs from the past year include: Period costs for Country Furniture Company totaled

Sydney's Barbecue reported the following information: What is the amount of ending finished goods inventory for the period ending December 31, 20XX?

An inventoriable cost could be the cost of the marketing and distribution of a product.

Which of the following is an example of an inventoriable cost when manufacturing products?

Harper Inc. has fixed costs of $600,000 when it produces 300,000 units. Its total variable costs are $150,000. When Harper Inc. produces 400,000 units, its total variable cost per unit will be

Indirect materials and indirect labor are ________ for a manufactured product.

Before these materials are used to manufacture its cars, Toyota classifies steel, glass, and plastic as

Company X sells widgets. The following information summarizes the company's operating activities for the year: What is gross profit?

An example of direct labor would be which of the following?

Compute the missing amounts.

Which of the following are classified as manufacturing overhead?

Sneider Family Orange Groves processes a variety of fresh juices. The company has the following expenses for July: What is the total cost for the distribution category of the value chain?

Sneider Family Orange Groves processes a variety of fresh juices. The company has the following expenses for July: What is the total cost for the design category of the value chain?