1,2, 2.2, 3 COST ACCOUNTING MIDTERM

55問 • 1年前

Shiela Caber

通報

問題一覧

Financial statement for external users can be described as:

general purpose

Planning is a function that involves:

setting goals and objectives for an entity

Which of the following is not a management function?

constraining

A manager that is establishing objectives is performing which management function?

planning

Management accounting information is generally prepared for:

managers

Managerial accounting is applicable to:

all of these

Which of the following is not an internal user?

creditor

Managerial accounting is also called:

management accounting

Management accountants would not:

prepare reports primarily for external users

Internal reports must be communicated:

as needed

Which of the following statements about internal reports is not true?

most internal reports are summarized rather than detailed

Internal reports are generally:

detailed

Management accounting information

pertains to subunits of the entity and may be very detailed

Financial accounting information is used for reporting to:

external parties

Which of the following statements about cost accounting is not true?

cost accounting is not important to any company

Direct material cost is a: Conversion cost Prime cost

No Yes

Direct labor cost is a: Conversion cost Prime cost

Yes Yes

Indirect labor is a:

conversion cost

In a job system, manufacturing overhead is a An indirect cost of A necessary elements Job of Production

Yes Yes

Prime cost and conversion cost share what common element of total cost?

Direct labor

Which of the following is an element of prime cost? Direct Materials Direct Labor

Yes Yes

Why just paid to factor machine operators of a manufacturing plant are an element of: Prime cost Conversion cost

Yes Yes

Cause that are vary inversely with changes in volume include

total fixed costs divided by volume

When a unit of product is the cost object, factory overhead generally is:

both of the above

Factory rent is:

a conversion cost and a period cost

Examples of factory overhead cost are:

both of the above

In general, the cost that good usually be most reliably predicted is:

total fixed cost

For supplies use would be an example of which of the following? Prime cost Conversion cost

No Yes

For a manufacturing company, which of the following is an example of a period rather than a product cost?

wages of salesperson

The variable portion of a semi-variable cost of electricity for a manufacturing plant is a: Conversion cost Period cost

Yes No

Indirect cost are also known as:

common costs

Variable cost

is constant if expressed on a per unit basis

All of the following are examples of product cost except:

depreciation on the company's retail outlets

The distinction between indirect and direct costs depends on

whether a cost can be conveniently and physically traced to a unit under consideration

Which of the following should not be included as manufacturing overhead in the manufacture of a wooden chair

the amount paid to the individual who stains the chair

The following cost relate to fernando industries for the last quarter: Conversion cost. P435,000 Direct materials 215,000 Manufacturing overhead 190,000 Selling and administrative 185,000 expense What is fernando's prime cost for the last quarter?

P460,000

Fernando's manufacturing cost is:

P650,000

Fernando's total period cost is

P185,000

Transportation costs incurred to get the finish product to the customer would be:

both A and C

Three costs, one variable, one fixed and one mixed (semi-variable) , we're at the health spa working out. One of the cost complained "it seems like the more i work out, the bigger my total cost gets. Which cost is talking?

the variable cost

Milktopia, inc produces and sells milk-flavored bubble gum. Over the last months, milktopia had the following production costs and production volume. Month Cost Volume (in cases) March P6,000. 12 April 6,659 14 May 8,370 18 June 8,800 19 July 8,050 17 Using the high low-method, what is the fixed cost per month for bubble gum production?

P1,200

The variable cost per case is:

P400

Justin Co. Produced 5,500 outdoor chairs for job order No. 610m. Total material cost was P51,700 . Each chair required 2.2 hours of direct labor as P 8.90/hour. A total of P 53,845 of factory overhead was traced to Order 610. What is the prime cost per unit of this order?

P28.98

What is the conversion cost per unit of this order?

P29.37

What is the unit cost of this order?

P38.77

Cost of goods sold is _____

a production cost

For manufacturing company, the cost of goods available for sale during a given accounting period is ______

the sum of the above

Which of the following would not be classified as manufacturing overhead?

direct materials

The wage of a timekeeper in the factory would be classified as:

indirect labor

As current technology changes manufacturing process, it is likely that direct

labor will decrease

Sales commission are classified as:

period costs

For inventoriable costs to become expenses under the matching principles:

the product to which they attached must be sold

A manufacturing company reports cost of goods manufactured as:

a component in the calculation of cost of goods sold

Costs of goods manufactured in a manufacturing company is comparable to:

cost of goods purchased in a merchandising company

If the amount of "cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs" for the period the:

ending work in process is greater than the amount of the beginning work in process inventory

MONETARY REVIEWER LESSON 1

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MONETARY REVIEWER LESSON 1

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STRAT MIDTERM EXAM

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STRAT MIDTERM EXAM

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BANKING (5-6)

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TAXATION MIDTERM EXAM

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TAXATION MIDTERM EXAM

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PERSONAL FINANCE QUIZ

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BANKING REVIEWER

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BANKING REVIEWER

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1 REVIEWER IN TREASURY MANAGEMENT

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1 REVIEWER IN TREASURY MANAGEMENT

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RISK MANAGEMENT

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4,7 COST ACCOUNTING

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4,7 COST ACCOUNTING

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TQM

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TQM

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Lesson 1

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Lesson 1

32問 • 1年前

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Lesson 2-3

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Lesson 2-3

62問 • 1年前

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Lesson 4

Shiela Caber · 26問 · 1年前

Lesson 4

26問 • 1年前

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MONETARY REVIEWER LESSON 2

Shiela Caber · 18問 · 1年前

MONETARY REVIEWER LESSON 2

18問 • 1年前

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VENTURE CAPITAL REVIEWER LESSON 1

Shiela Caber · 10問 · 1年前

VENTURE CAPITAL REVIEWER LESSON 1

10問 • 1年前

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VENTURE CAPITAL REVIEWER LESSON 2

Shiela Caber · 24問 · 1年前

VENTURE CAPITAL REVIEWER LESSON 2

24問 • 1年前

Shiela Caber

問題一覧

Financial statement for external users can be described as:

general purpose

Planning is a function that involves:

setting goals and objectives for an entity

Which of the following is not a management function?

constraining

A manager that is establishing objectives is performing which management function?

planning

Management accounting information is generally prepared for:

managers

Managerial accounting is applicable to:

all of these

Which of the following is not an internal user?

creditor

Managerial accounting is also called:

management accounting

Management accountants would not:

prepare reports primarily for external users

Internal reports must be communicated:

as needed

Which of the following statements about internal reports is not true?

most internal reports are summarized rather than detailed

Internal reports are generally:

detailed

Management accounting information

pertains to subunits of the entity and may be very detailed

Financial accounting information is used for reporting to:

external parties

Which of the following statements about cost accounting is not true?

cost accounting is not important to any company

Direct material cost is a: Conversion cost Prime cost

No Yes

Direct labor cost is a: Conversion cost Prime cost

Yes Yes

Indirect labor is a:

conversion cost

In a job system, manufacturing overhead is a An indirect cost of A necessary elements Job of Production

Yes Yes

Prime cost and conversion cost share what common element of total cost?

Direct labor

Which of the following is an element of prime cost? Direct Materials Direct Labor

Yes Yes

Why just paid to factor machine operators of a manufacturing plant are an element of: Prime cost Conversion cost

Yes Yes

Cause that are vary inversely with changes in volume include

total fixed costs divided by volume

When a unit of product is the cost object, factory overhead generally is:

both of the above

Factory rent is:

a conversion cost and a period cost

Examples of factory overhead cost are:

both of the above

In general, the cost that good usually be most reliably predicted is:

total fixed cost

For supplies use would be an example of which of the following? Prime cost Conversion cost

No Yes

For a manufacturing company, which of the following is an example of a period rather than a product cost?

wages of salesperson

The variable portion of a semi-variable cost of electricity for a manufacturing plant is a: Conversion cost Period cost

Yes No

Indirect cost are also known as:

common costs

Variable cost

is constant if expressed on a per unit basis

All of the following are examples of product cost except:

depreciation on the company's retail outlets

The distinction between indirect and direct costs depends on

whether a cost can be conveniently and physically traced to a unit under consideration

Which of the following should not be included as manufacturing overhead in the manufacture of a wooden chair

the amount paid to the individual who stains the chair

P460,000

Fernando's manufacturing cost is:

P650,000

Fernando's total period cost is

P185,000

Transportation costs incurred to get the finish product to the customer would be:

both A and C

the variable cost

P1,200

The variable cost per case is:

P400

P28.98

What is the conversion cost per unit of this order?

P29.37

What is the unit cost of this order?

P38.77

Cost of goods sold is _____

a production cost

For manufacturing company, the cost of goods available for sale during a given accounting period is ______

the sum of the above

Which of the following would not be classified as manufacturing overhead?

direct materials

The wage of a timekeeper in the factory would be classified as:

indirect labor

As current technology changes manufacturing process, it is likely that direct

labor will decrease

Sales commission are classified as:

period costs

For inventoriable costs to become expenses under the matching principles:

the product to which they attached must be sold

A manufacturing company reports cost of goods manufactured as:

a component in the calculation of cost of goods sold

Costs of goods manufactured in a manufacturing company is comparable to:

cost of goods purchased in a merchandising company

If the amount of "cost of goods manufactured" during a period exceeds the amount of "Total manufacturing costs" for the period the:

ending work in process is greater than the amount of the beginning work in process inventory