Exam: 061681RR - THE COSTING OF PRODUCTS
ProTutor11Questions 1 to 20: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer.
Use the following information to answer this question.
The following data (in thousands of dollars) have been taken from the accounting records of Karlana Corporation for the just-completed year.
Sales | $910 |
Raw materials, inventory, beginning | $80 |
Raw materials, inventory, ending | $20 |
Purchases of raw materials | $100 |
Direct labor | $130 |
Manufacturing overhead | $200 |
Administrative expenses | $160 |
Selling expenses | $140 |
Work in process inventory, beginning | $40 |
Work in process inventory, ending | $10 |
Finished goods inventory, beginning | $130 |
Finished goods inventory, ending | $150 |
1. The net operating income for the year (in thousands of dollars) was
A. $40.
B. $180.
C. $110.
D. $410.
2. Which of the following is not one of the five steps in the lean-thinking model discussed in the text?
A. Automate the business process.
B. Create a pull system that responds to customer orders.
C. Organize work arrangements around the flow of the business process.
D. Identify the business process that delivers value.
All the question are attached. Please check
12 years ago
Purchase the answer to view it
cost_of_accounting.xlsx
