Managerial Accounting
 
  1. Question: Managerial accounting:

    A
    is governed by generally accepted accounting principles.

    B
    places emphasis on special-purpose information.

    C
    pertains to the entity as whole and is highly aggregated.

    D
    is limited to cost data.

    Note: Not available
    1. Report
  2. Question: Which of the following is not one of the categories in Standards of Ethical Conduct for Management Accountants?

    A
    Confidentiality.

    B
    Integrity.

    C
    Competence.

    D
    Independence.

    Note: Not available
    1. Report
  3. Question: The management of an organization perform sevral broad functions. They are:

    A
    planning,directing and motivating, and selling.

    B
    planning, directing and motivating, and controlling.

    C
    planning, manafacturing and controlling.

    D
    directing and motivating, manafacturing and controlling.

    Note: Not available
    1. Report
  4. Question: Direct materials are a:

    A
    Conversion Cost =Yes Manufacturing Cost=Yes Prime Cost=No

    B
    Conversion Cost =No Manufacturing Cost=Yes Prime Cost=Yes

    C
    Conversion Cost =Yes Manufacturing Cost=Yes Prime Cost=Yes

    D
    Conversion Cost =No Manufacturing Cost=No Prime Cost=No

    Note: Not available
    1. Report
  5. Question: Indirect labor is a:

    A
    nonmanufacturing cost.

    B
    prime cost.

    C
    product cost.

    D
    period cost.

    Note: Not available
    1. Report
  6. Question: Which of the following cost would be included in manufacturing overhead of a computer manufacturer?

    A
    The cost of the 3.5 inch disk drives.

    B
    The wages earned by computer assemblers.

    C
    The cost of the memory chips.

    D
    Depreciation on testing equipment.

    Note: Not available
    1. Report
  7. Question: Which of the following is not an element of manufacturing overhead?

    A
    Sales manager's salary.

    B
    Plant manager's salary.

    C
    Factory repairman's wages.

    D
    Product inspector's salary.

    Note: Not available
    1. Report
  8. Question: For the year, Redder Company has cost of goods manufactured of $600,000, beginning finished goods inventory of $200,000, and ending finished goods inventory of $250,000. The cost of goods sold is:

    A
    $450,000

    B
    $550,000

    C
    $500,000

    D
    $600,000

    Note: Not available
    1. Report
  9. Question: The cost of goods manufactured schedule shows beginning and ending inventories for:

    A
    raw materials and work in process only.

    B
    work in process only.

    C
    raw materials only.

    D
    raw material, work in process and finished goods.

    Note: Not available
    1. Report
  10. Question: In the manufacture balance sheet, three inventories may be reported: (1) raw materials, (2) work in process and (3) finished goods. Indicate in what sequence these inventories generally appear on a balance sheet.

    A
    (1),(2),(3)

    B
    (2),(3),(1)

    C
    (3),(1),(2)

    D
    (3),(2),(1)

    Note: Not available
    1. Report
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