Question 1

Sanjay Company's total sales revenue will be

Accepted Answer

A) $160,000. 
B) $120,000. 
C) $112,000. 
D) $8,000. 
A) $160,000. 
B) $120,000. 
C) $112,000. 
D) $8,000. A

Question 2

When determining the cost of a manufactured product,the cost of lighting the factory would be classified as

Accepted Answer

A) a direct cost. 
B) an indirect cost. 
C) a period cost. 
D) a conversion cost. 
A) a direct cost. 
B) an indirect cost. 
C) a period cost. 
D) a conversion cost. B

Question 3

Certain materials used in a manufacturing plant cannot be traced to a specific unit.These materials are called ________ materials.

Accepted Answer

A) general 
B) direct 
C) finished 
D) indirect 
A) general 
B) direct 
C) finished 
D) indirect D

Question 4

What was cost of goods sold at Sunnydale Manufacturing?

Accepted Answer

A) $680 
B) $1,570 
C) $1,510 
D) $1,610 
A) $680 
B) $1,570 
C) $1,510 
D) $1,610

Question 5

The cost of making one more unit is called

Accepted Answer

A) marginal cost. 
B) unit cost. 
C) variable cost. 
D) fixed cost. 
A) marginal cost. 
B) unit cost. 
C) variable cost. 
D) fixed cost.

Question 6

The total period costs for Bombardeer are

Accepted Answer

A) $1,260. 
B) $770. 
C) $1,130. 
D) $1,090. 
A) $1,260. 
B) $770. 
C) $1,130. 
D) $1,090.

Question 7

A restaurant is facing a decision about whether it should bake its own dinner rolls or whether it should continue to purchase the dinner rolls from a local bakery.Which of the following costs would be relevant to its decision?

Accepted Answer

A) The salary of the restaurant manager 
B) The purchase price of the dinner rolls purchased from the local bakery 
C) The price the restaurant sells the dinner rolls for 
D) The original purchase price of the current machinery 
A) The salary of the restaurant manager 
B) The purchase price of the dinner rolls purchased from the local bakery 
C) The price the restaurant sells the dinner rolls for 
D) The original purchase price of the current machinery

Question 8

What is the total cost for the design category of the value chain at Sunnybrook Orange Groves?

Accepted Answer

A) $177,000 
B) $89,000 
C) $102,000 
D) $191,000 
A) $177,000 
B) $89,000 
C) $102,000 
D) $191,000

Question 9

What is the total cost for the customer service category of the value chain at Farm Fresh Dairy?

Accepted Answer

A) $80,000 
B) $8,000 
C) $71,000 
D) $12,000 
A) $80,000 
B) $8,000 
C) $71,000 
D) $12,000

Question 10

What is the total cost for the design category of the value chain at Farm Fresh Dairy?

Accepted Answer

A) $88,000 
B) $84,000 
C) $155,000 
D) $239,000 
A) $88,000 
B) $84,000 
C) $155,000 
D) $239,000

Question 11

What is cost of goods sold at Summerville Company?

Accepted Answer

A) $73,000 
B) $93,000 
C) $100,000 
D) $77,000 
A) $73,000 
B) $93,000 
C) $100,000 
D) $77,000

Question 12

Match between columns
                        Premises: The cost of producing one more unit
The difference in cost between two alternative courses of action
The total cost divided by the total volume
The combination of direct labour and manufacturing overhead costs
Costs that can be traced to the cost object

Accepted Answer

The Answer of Differential cost and Variable costs and Indirect is...

Question 13

Match between columns
                        Premises: Factory supplies used
Rent expense on factory building
Taxes paid on factory building
Depreciation expense on office equipment
Wages of assembly line personuel
Cost of primary material used to make product
Insurance expired on factory equipment
Utilities incurred in the office
Rent expense on office facilities
Advertising expense
Sales supplies used
Indirect materials used

Accepted Answer

The Answer of Direct labour and Direct materials and Manufacturing is...

Question 14

Selected information regarding a company's most recent quarter follows (all data in thousands).
 
What was cost of goods sold?

Accepted Answer

A) $1,610 
B) $1,740 
C) $1,060 
D) $860 
A) $1,610 
B) $1,740 
C) $1,060 
D) $860

Question 15

A lawn mowing business would be classified as a

Accepted Answer

A) manufacturing company. 
B) merchandising company. 
C) service company. 
D) wholesale company. 
A) manufacturing company. 
B) merchandising company. 
C) service company. 
D) wholesale company.

Question 16

What is operating income at Summerville Company?

Accepted Answer

A) $143,000 
B) $43,000 
C) $58,000 
D) $47,000 
A) $143,000 
B) $43,000 
C) $58,000 
D) $47,000

Question 17

What was operating income for the year at Back Yards Inc.?

Accepted Answer

A) $86,000 
B) $81,000 
C) $96,000 
D) $76,000 
A) $86,000 
B) $81,000 
C) $96,000 
D) $76,000

Question 18

You are planning to buy a new car.Based on your market research you have narrowed the decision to a choice between a Honda Civic and a Toyota Corolla.Since you are indifferent between the two vehicles you decide to base you decision on relevant cost only.You will be trading in your current vehicle which you purchased used a year ago.You expect to keep the new vehicle for five years.You have gathered the following data for use in your decision:
   
Required:
A.Which if any of the listed costs above are not relevant to your decision?
B.What are the total relevant costs and allowances of purchasing the Civic?
C.What are the total relevant costs and allowances of purchasing the Corolla?
D.What is the differential cost involved in your decision?

Accepted Answer

A.Purchase price of current vehicle - $8

Question 19

The financial statements of a merchandiser are more complex than those of a manufacturer.

Accepted Answer

A) True 
 B)False

Question 20

Paris Plastics' total sales revenue will be

Accepted Answer

A) $192,000. 
B) $144,000. 
C) $90,000. 
D) $54,000. 
A) $192,000. 
B) $144,000. 
C) $90,000. 
D) $54,000.

Sanjay Company's total sales revenue will be

When determining the cost of a manufactured product,the cost of lighting the factory would be classified as

Certain materials used in a manufacturing plant cannot be traced to a specific unit.These materials are called ________ materials.

What was cost of goods sold at Sunnydale Manufacturing?

The cost of making one more unit is called

The total period costs for Bombardeer are

A restaurant is facing a decision about whether it should bake its own dinner rolls or whether it should continue to purchase the dinner rolls from a local bakery.Which of the following costs would be relevant to its decision?

What is the total cost for the design category of the value chain at Sunnybrook Orange Groves?

What is the total cost for the customer service category of the value chain at Farm Fresh Dairy?

What is the total cost for the design category of the value chain at Farm Fresh Dairy?

What is cost of goods sold at Summerville Company?

Selected information regarding a company's most recent quarter follows (all data in thousands). What was cost of goods sold?

A lawn mowing business would be classified as a

What is operating income at Summerville Company?

What was operating income for the year at Back Yards Inc.?

The financial statements of a merchandiser are more complex than those of a manufacturer.

Paris Plastics' total sales revenue will be

Introduction to Managerial Accounting

Job Costing

Activity Based Costing

Process Costing

Cost Behaviour

Cost-Volume-Profit Analysis

Short-Term Business Decisions

The Master Budget and Responsibility Accounting

Flexible Budgets and Standard Costs

Performance Evaluation and the Balanced Scorecard

Capital Investment Decisions and the Time Value of Money

Filters

Exam 2: Building Blocks of Managerial Accounting

Sanjay Company's total sales revenue will be

When determining the cost of a manufactured product,the cost of lighting the factory would be classified as

Certain materials used in a manufacturing plant cannot be traced to a specific unit.These materials are called ________ materials.

What was cost of goods sold at Sunnydale Manufacturing?

The cost of making one more unit is called

The total period costs for Bombardeer are

A restaurant is facing a decision about whether it should bake its own dinner rolls or whether it should continue to purchase the dinner rolls from a local bakery.Which of the following costs would be relevant to its decision?

What is the total cost for the design category of the value chain at Sunnybrook Orange Groves?

What is the total cost for the customer service category of the value chain at Farm Fresh Dairy?

What is the total cost for the design category of the value chain at Farm Fresh Dairy?

What is cost of goods sold at Summerville Company?

Selected information regarding a company's most recent quarter follows (all data in thousands). What was cost of goods sold?

A lawn mowing business would be classified as a

What is operating income at Summerville Company?

What was operating income for the year at Back Yards Inc.?

The financial statements of a merchandiser are more complex than those of a manufacturer.

Paris Plastics' total sales revenue will be

Introduction to Managerial Accounting

Job Costing

Activity Based Costing

Process Costing

Cost Behaviour

Cost-Volume-Profit Analysis

Short-Term Business Decisions

The Master Budget and Responsibility Accounting

Flexible Budgets and Standard Costs

Performance Evaluation and the Balanced Scorecard

Capital Investment Decisions and the Time Value of Money

Filters