16 Jun Managerial Accounting 10 MCQ
QUESTION 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.
10 points
QUESTION 2
Managerial accounting does not encompass
calculating product cost.
calculating earnings per share.
determining cost behavior.
profit planning.
10 points
QUESTION 3
What activities and responsibilities are not associated with management’s functions?
Planning
Accountability
Controlling
Directing
10 points
QUESTION 4
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 Inventory66,000
Raw Materials Inventory66,000
Direct Materials66,000
Indirect Materials9,000
Work in Process Inventory75,000
Manufacturing Overhead75,000
Raw Materials Inventory75,000
Work In Process Inventory66,000
Manufacturing Overhead 9,000
Raw Materials Inventory 75,000
10 points
QUESTION 5
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.
10 points
QUESTION 6
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.
10 points
QUESTION 7
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.
10 points
QUESTION 8
In traditional costing systems, overhead is generally applied based on
direct labor.
machine hours.
direct material dollars.
units of production.
10 points
QUESTION 9
Fixed costs normally will not include
property taxes.
direct labor.
supervisory salaries.
depreciation on buildings and equipment.
10 points
QUESTION 10
Companies recognize fixed manufacturing overhead costs as period costs (expenses) when incurred when using
full costing.
absorption costing.
product costing.
variable costing.
Our website has a team of professional writers who can help you write any of your homework. They will write your papers from scratch. We also have a team of editors just to make sure all papers are of HIGH QUALITY & PLAGIARISM FREE. To make an Order you only need to click Ask A Question and we will direct you to our Order Page at WriteDemy. Then fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Fill in all the assignment paper details that are required in the order form with the standard information being the page count, deadline, academic level and type of paper. It is advisable to have this information at hand so that you can quickly fill in the necessary information needed in the form for the essay writer to be immediately assigned to your writing project. Make payment for the custom essay order to enable us to assign a suitable writer to your order. Payments are made through Paypal on a secured billing page. Finally, sit back and relax.
About Writedemy
We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.
How It Works
To make an Order you only need to click on “Order Now” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.
Are there Discounts?
All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.