29 Jun Question Much of managerial accounting information i
Question
Much of managerial accounting information is based on:
A. a cost-benefit theme.
B. profit maximization.
C. cost minimization.
D. the generation of external information.
E. effectiveness but not efficiency.
2. Managerial accounting has changed in recent years because of:
A. a growing service economy in the United States.
B. the growing popularity of cross-functional teams.
C. an increase in global competition.
D. time-based competition.
E. All of these factors.
3. The value chain of a manufacturer would tend to include activities related to:
A. manufacturing.
B. research and development.
C. product design.
D. marketing.
E. All of these.
4. The accounting records of Bronco Company revealed the following information:
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Bronco’s cost of goods manufactured is:
A. $519,000.
B. $522,000.
C. $568,000.
D. $571,000.
E. some other amount.
5. Carolina Plating Company reported a cost of goods manufactured of $520,000, with the firm’s year-end balance sheet revealing work in process and finished goods of $70,000 and $134,000, respectively. If supplemental information disclosed raw materials used in production of $80,000, direct labor of $140,000, and manufacturing overhead of $240,000, the company’s beginning work in process must have been:
A. $130,000.
B. $10,000.
C. $66,000.
D. $390,000.
E. some other amount.
6. When 5,000 units are produced variable costs are $35 per unit and total costs are $200,000. What are the total costs when 8,000 units are produced?
A. $200,000.
B. $305,000.
C. $240,000.
D. Some other amount.
E. Total costs cannot be calculated based on the information presented.
Wee Care is a nursery school for pre-kindergarten children. The school has determined that the following biweekly revenues and costs occur at different levels of enrollment:
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