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Prepareastatementofcostofgoodsmanufactured 1. InformationaboutMobileEnterprisesfortheyearendingDecember31,2016,isasfollows: Sales $300,000 Sellingandadministrativeexpenses 18,000 Netincome 8,000 Beginninginventories:Directmaterials 20,000 Workin process 18,000 Finishedgoods 62,000 Endingdirectmaterialsis20percentlargerthanbeginningdirectmaterials.Endingworkinprocessishalfofthebeginningworkinprocess.Endingfinishedgoodsincre ...

Other / Other 27 May 2016

An example of a tangible product, rather than a service, would be 1. IfphysicalobservationcanNOTbeusedtoidentifytheexactamountofresourcesconsumedbyacostobject,thenextbestapproachis a. drivertracing. b. allocation. c. estimation. d. noneofthese. 2. Servicesdifferfromtangibleproductsinwhichofthefollowingdimensions? a. intangibility b. inseparability c. perishability d. alloftheabove 3. Withregardstoproducts,perishabilitycanbed ...

Other / Other 27 May 2016

Whatarethetotalvariablecostsperunit Figure InformationfromtherecordsoftheConundrumCompanyforSeptember2016wasasfollows: Sales $307,500 Sellingandadministrativeexpenses 52,500 Directmaterialsused 66,000 Directlabor 75,000 Variablefactoryoverhead 50,000 Factoryoverhead 51,250 Inventories Sept.1,2016 Sept30,2016 Directmaterials $8,000 $10,500 Workinprocess 18,750 21,000 Finishedgoods 17,250 14,250 ConundrumCorporationprod ...

Other / Other 27 May 2016

Whatistheamountoffactoryoverhead Figure ThefollowingisthedataforLaurenEnterprises: Sellingandadministrativeexpenses $75,000 Directmaterials used 265,000 Directlabor(25,000hours) 300,000Factoryoverheadapplicationrate $16perDLH Inventories 1. RefertoFigure.Whatisthecostofgoodsmanufactured? a.$1,115,000 b.$965,000 c.$955,000 d.$950,000 2. RefertoFigure.Whatisthecostofgoodssold? a.$565,000 b.$950,000 c.$965,000 d.$980 ...

Other / Other 27 May 2016

The direct costs of operating a college computer center would NOT include 1. Whichofthefollowingcostsincurredbyachairmanufacturerwouldbetracedtotheproductcostthroughdirecttracing? a. thedepreciationonfactoryequipment b. thesupervisor'ssalary c. theinsuranceonthefactorybuilding d. thewoodworker'ssalary 2. Directcosts a. areincurredforthebenefitofthebusinessasawhole. b. wouldcontinueevenifaparticularproductwerediscontinued. c. ...

Other / Other 27 May 2016

Thecostofgoodsmanufacturedrepresentsthetotalmanufacturingcostofgoods 1. Theincomestatementpreparedforexternalpartiesisfrequentlyreferredtoasabsorption-costingincome,orfullcostingincome. a. True b. False 2. Thecostofgoodssoldisthecostofdirectmaterials,directlaborandoverheadattachedtotheunitssold. a. True b. False 3. Thecostofgoodsmanufacturedrepresentsthetotalmanufacturingcostofgoodscompletedduringthecurrentperiod. a. True b ...

Other / Other 27 May 2016

Which of the following is NOT an objective of the operational control system 1. Acostmanagementsubsystemdesignedtoprovideaccurateandtimelyfeedbackconcerningtheperformanceofmanagersandothersrelativetotheirplanningandcontrolactivitiesiscalledthe: a. costaccountinginformationsystem b. financialaccountingsystem c. operationalcontrolinformationsystem d. taxreportingsystem 2. WhichofthefollowingisNOToneofthefeaturesofanoperationalcontr ...

Other / Other 27 May 2016

Thecostmanagementinformationsystemisprimarilyconcernedwithproducingoutputs 1. Thecostmanagementinformationsystemisprimarilyconcernedwithproducingoutputsforinternalusersusinginputsandprocessesneededtosatisfymanagementobjectives. a. True b. False 2. TheFinancialaccountinginformationsystemprovidesinformationforthreebroadobjectives:costingservicesandproducts,planningandcontrol,anddecisionmaking. a. True b. False 3. Thevaluechaini ...

Other / Other 27 May 2016

Inpreparinganincomestatement, and costsareseparated. 1. Theleastaccuratebuteasiesttoapplymethodofcostassignmentisthe method. 2. meanstheconsumercannotsee,hear,feel,ortasteaservicebeforeitisbought. 3. aregenerallymaterialsnecessaryforproductionthatdonotbecomepartofthefinishedproductorarenotusedtoprovideaservice. 4. Costsnecessarytomarketanddistributeaproductorserviceareoftenreferredtoasorder-__________andorder-__________cos ...

Other / Other 27 May 2016

The precision of driver tracing depends upon 1. Theassignmentofindirectcoststocostobjectsisreferredtoas: a. Allocation b. Directtracing c. Physicalobservation d. Costmanagement 2. Whatisadisadvantageofassigningcostsevenlyoverallcostobjects? a. notallcostswillbeassigned b. totalcostswillbedistorted c. costsmaybedistortedbyconsumptionpatternsofothercostobjects d. noneofthese 3. Theinsurancepaidonthefactoryis a. adirectcostiftheco ...

Other / Other 27 May 2016