ACCT 505 Midterm Exam

                            ACCT505 Managerial Accounting

1. Question: (TCO A) Wages paid to a timekeeper in a factory are a ______.

2. Question: (TCO A) The costs of staffing and operating the accounting department at Central Hospital

would be considered by the Department of Surgery to be ______.

3. Question: (TCO A) Inventoriable costs are also known as ______.

4. Question: (TCO A) Within the relevant range, variable costs can be expected to ______.

5. Question: (TCO F) When manufacturing overhead is applied to production, it is added to ______.

6. Question: (TCO F) Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs ______.

7. Question: (TCO F) Equivalent units for a process costing system using the FIFO method would be equal

to ______.

8. Question: (TCO B) The contribution margin ratio always decreases when the ______.

9. Question: (TCO B) The break-even point in unit sales is found by dividing total fixed expenses by

______.

 10. Question: (TCO E) Under variable costing, ______.