Question 1

Which of the following is characteristic of a service company?

Accepted Answer

A) Service companies generally have no tangible products to sell. 
B) Service companies have a single category of inventory. 
C) Service companies make a product. 
D) Service companies transform raw materials into finished goods. 
A) Service companies generally have no tangible products to sell. 
B) Service companies have a single category of inventory. 
C) Service companies make a product. 
D) Service companies transform raw materials into finished goods.

Question 2

Paris Plastics' total variable costs will be

Accepted Answer

A) $90,000. 
B) $192,000. 
C) $144,000. 
D) $48,000. 
A) $90,000. 
B) $192,000. 
C) $144,000. 
D) $48,000.

Question 3

Differential cost is the difference in cost between two alternatives.

Accepted Answer

A) True 
 B)False

Question 4

Certain item descriptions and amounts are missing from the monthly schedule of cost of goods
manufactured below and the income statement of Redlink Manufacturing.Fill in the missing
items.

Accepted Answer

@#IMG-DLM&_TB1765_00_TB1765_00_TB1765_00

Question 5

Which of the following costs would appear on the income statements for both a merchandiser and manufacturer?

Accepted Answer

A) Cost of goods manufactured 
B) Direct labour incurred 
C) Direct materials used 
D) Operating expenses 
A) Cost of goods manufactured 
B) Direct labour incurred 
C) Direct materials used 
D) Operating expenses

Question 6

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

Accepted Answer

A) $436,000 
B) $54,000 
C) $195,000 
D) $293,000 
A) $436,000 
B) $54,000 
C) $195,000 
D) $293,000

Which of the following is characteristic of a service company?

Paris Plastics' total variable costs will be

Differential cost is the difference in cost between two alternatives.

Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured below and the income statement of Redlink Manufacturing.Fill in the missing items.

Which of the following costs would appear on the income statements for both a merchandiser and manufacturer?

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

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

Which of the following is characteristic of a service company?

Paris Plastics' total variable costs will be

Differential cost is the difference in cost between two alternatives.

Certain item descriptions and amounts are missing from the monthly schedule of cost of goods manufactured below and the income statement of Redlink Manufacturing.Fill in the missing items.

Which of the following costs would appear on the income statements for both a merchandiser and manufacturer?

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

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