Question 1

Chicago Steel's operating activities for the year are listed below.

What is the gross profit for the year?

Accepted Answer

A) $50,000 
B) $750,000 
C) $1,500,000 
D) $100,000

Question 2

The costs associated with reengineering machinery and its location within the factory to increase efficiency would be considered which element of the value chain?

Accepted Answer

A) Customer service 
B) Marketing 
C) Research and development 
D) Design

Question 3

The activities in the value chain must take place in a specific order.

Accepted Answer

A) True 
 B)False

Question 4

Joe's Bottling Company provided the following expense information for July:

What is the total cost of research and development?

Accepted Answer

A) $55,000 
B) $68,000 
C) $65,000 
D) $188,000

Exam 2: Building Blocks of Managerial Accounting

Chicago Steel's operating activities for the year are listed below. What is the gross profit for the year?

The costs associated with reengineering machinery and its location within the factory to increase efficiency would be considered which element of the value chain?

The activities in the value chain must take place in a specific order.

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