Exam 2: Management Accounting: Cost Terms and Concepts

Mydas Ltd operates a large factory which manufactures three types of motor vehicles, including family sedans, sports cars and motorcycles. If the cost object is a family car, which of the following is an indirect cost?

(Multiple Choice)

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Question 81

As manufacturing companies become more automated, their cost structure will change so that:

(Multiple Choice)

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Question 82

Work in process inventories are composed of:

(Multiple Choice)

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Question 83

With respect to the flow of manufacturing costs through the accounts, what does the ending balance of work in process account show?

(Multiple Choice)

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Question 84

To calculate the cost of goods sold during the period, you would use which of the following equations?

(Multiple Choice)

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Question 85

Barrett Industries began the month of June with a finished goods inventory of $15 000. The finished goods inventory at the end of June was $10 000 and the cost of goods sold during the month was $20 000. The cost of goods manufactured during the month of June was:

(Multiple Choice)

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Question 86

Which of the following is not an example of a variable cost?

(Multiple Choice)

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Question 87

Showing 81 - 87 of 87

Mydas Ltd operates a large factory which manufactures three types of motor vehicles, including family sedans, sports cars and motorcycles. If the cost object is a family car, which of the following is an indirect cost?

As manufacturing companies become more automated, their cost structure will change so that:

Work in process inventories are composed of:

With respect to the flow of manufacturing costs through the accounts, what does the ending balance of work in process account show?

To calculate the cost of goods sold during the period, you would use which of the following equations?

Barrett Industries began the month of June with a finished goods inventory of $15 000. The finished goods inventory at the end of June was $10 000 and the cost of goods sold during the month was $20 000. The cost of goods manufactured during the month of June was:

Which of the following is not an example of a variable cost?

Management Accounting: Information for Creating Value and Managing Resources

Cost Behaviour, Cost Drivers and Cost Estimation

Product Costing Systems

Process Costing and Operation Costing

Service Costing

A Closer Look at Overhead Costs

Activity-Based Costing

Budgeting Systems

Standard Costs for Control: Direct Material and Direct Labour

Standard Costs for Control: Flexible Budgets and Manufacturing Overhead

Managing and Reporting Performance

Financial Performance Measures and Incentive Schemes

Strategic Performance Measurement Systems

Managing Suppliers and Customers

Managing Costs and Quality

Sustainability and Management Accounting

Cost Volume Profit Analysis

Information for Decisions: Relevant Costs and Benefits

Pricing and Product Mix Decisions

Information for Capital Expenditure Decisions

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