Exam 2: Building Blocks of Managerial Accounting

You are trying to decide whether or not to sell back your accounting textbook at the end of the class.The cost you paid for the book is relevant to your decision.

Delivery expenses are charged to which of the following areas?

Subtracting the costs of one alternative from the costs of the other alternative would be called the ________ cost.

When determining the cost of a manufactured product,a factory janitor's wages would be classified as

What is total operating expense at Summerville Company?

A law firm would be classified as a

Manufacturing overhead costs for a product include

Cost of goods sold is a major expense of service companies.

The total manufacturing overhead costs for Bombardeer are

Compute the missing amounts.

Period costs for Comfy Furniture Company totaled

What were the period costs at the Uniquely Me Shoppe?

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

For a manufacturer,beginning work in process would be equal to

South State Company used $71,000 of direct materials and incurred $37,000 of direct labour costs during 2014.Indirect labour amounted to $2,700 while indirect materials used totaled $1,600.Other operating costs pertaining to the factory included utilities of $3,100;maintenance of $4,500;supplies of $1,800;depreciation expense of $7,900;and property taxes of $2,600.There was no beginning or ending finished goods inventory,but work in process inventory began they ear with a $5,500 balance and ended the year with a $7,500 balance. Required: Prepare a schedule of cost of goods manufactured for South State Company for the year ended December 31.

Why do service firms not have inventory costs pertaining to items to be sold? What type of costs do they have?

What is the cost of goods sold at Express Company?

Which of the following describes full costs for a product for profitability analysis?

What was direct materials used at Sunnydale Manufacturing?

Provide a description of an activity or process that a company could undertake to integrate sustainability into the value chain.