Week 4 BA225 Managerial Accounting
phenixtj07
week_4_quiz_ba225___managerial_accounting.docx
Week 4 Quiz BA225 Managerial Accounting
Question 1
1. Managerial accounting applies to each of the following types of businesses except
|
|
|
service firms. |
|
|
|
merchandising firms. |
|
|
|
manufacturing firms. |
|
|
|
managerial accounting applies to all types of firms. |
1. Managerial accounting does not encompass
|
|
|
calculating product cost. |
|
|
|
calculating earnings per share. |
|
|
|
determining cost behavior. |
|
|
|
profit planning. |
Question 3
1. What activities and responsibilities are not associated with management's functions?
|
|
|
Planning |
|
|
|
Accountability |
|
|
|
Controlling |
|
|
|
Directing |
Question 4
1. A materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is
|
|
|
Work In Process Inventory 66,000 Raw Materials Inventory 66,000 |
|
|
|
Direct Materials 66,000 Indirect Materials 9,000 Work in Process Inventory 75,000 |
|
|
|
Manufacturing Overhead 75,000 Raw Materials Inventory 75,000 |
|
|
|
Work In Process Inventory 66,000 Manufacturing Overhead 9,000 Raw Materials Inventory 75,000 |
Question 5
1. Which one of the following is a source document that impacts the job cost sheet?
|
|
|
Raw materials receiving slips. |
|
|
|
Materials purchase orders. |
|
|
|
Labor time tickets. |
|
|
|
Finished goods shipping documents. |
Question 6
1. Equivalent units are calculated by
|
|
|
multiplying the percentage of work done by the equivalent units of output. |
|
|
|
dividing physical units by the percentage of work done. |
|
|
|
multiplying the percentage of work done by the physical units. |
|
|
|
dividing equivalent units by the percentage of work done. |
Question 7
1. In a process cost system, product costs are summarized:
|
|
|
on job cost sheets. |
|
|
|
on production cost reports. |
|
|
|
after each unit is produced. |
|
|
|
when the products are sold. |
Question 8
1. In traditional costing systems, overhead is generally applied based on
|
|
|
direct labor. |
|
|
|
machine hours. |
|
|
|
direct material dollars. |
|
|
|
units of production. |
Question 9
1. Fixed costs normally will not include
|
|
|
property taxes. |
|
|
|
direct labor. |
|
|
|
supervisory salaries. |
|
|
|
depreciation on buildings and equipment. |
Question 10
1. Companies recognize fixed manufacturing overhead costs as period costs (expenses) when incurred when using
|
|
|
full costing. |
|
|
|
absorption costing. |
|
|
|
product costing. |
|
|
|
variable costing. |
Week 4
Quiz
BA225
Managerial Accounting
Question 1
1.
Managerial accounting applies to each of the following types of businesses except
service firms.
merchandising firms.
manufacturing firms.
managerial accounting applies to all types of firms.
Question 2
1.
Managerial accounting does not encompas
s
calculating product cost.
calculating earnings per share.
determining cost behavior.
profit planning.
Question 3
1.
What activities and responsibilities are not associated with management's functions?
Planning
Week 4 Quiz BA225 Managerial Accounting
Question 1
1. Managerial accounting applies to each of the following types of businesses except
service firms.
merchandising firms.
manufacturing firms.
managerial accounting applies to all types of firms.
Question 2
1. Managerial accounting does not encompass
calculating product cost.
calculating earnings per share.
determining cost behavior.
profit planning.
Question 3
1. What activities and responsibilities are not associated with management's functions?
Planning
