Managerial Account

Multiple Choice Questions 1. Which of the afterward statements is true? A. The chat "cost" has the aforementioned acceptation in all situations in which it is used. B. Bulk data, already classified and recorded for a specific application, are adapted for use in any application. C. Altered bulk concepts and classifications are acclimated for altered purposes. D. All organizations acquire the aforementioned types of costs. E. Costs incurred in one year are consistently allusive in the afterward year. 2. Which of the afterward does a artefact cost? A. Glass in an automobile. B. Advertising. C. The bacon of the carnality president-finance. D. Rent on a factory. E. Both "A" and "D. " 3. The accounting annal of Georgia Aggregation arise the afterward costs: absolute abstracts used, $250,000; absolute labor, $425,000; accomplishment overhead, $375,000; and affairs and authoritative expenses, $220,000. Georgia's artefact costs total: A. $1,050,000. B. $830,000. C. $895,000. D. $1,270,000. E. some alternative amount. 4. Costs that are expensed back incurred are called: A. artefact costs. B. absolute costs. C. inventoriable costs. D. aeon costs. E. aberrant costs. 5. Which of the afterward is not a aeon cost? A. Legal costs. B. Public relations costs. C. Sales commissions. D. Wages of assembly-line workers. E. The bacon of a company's arch banking administrator (CFO). 6. The accounting annal of Reynolds Corporation arise the afterward called costs: Sales commissions, $65,000; bulb supervision, $190,000; and authoritative expenses, $185,000. Reynolds's aeon costs total: A. $250,000. B. $440,000. C. $375,000. D. $255,000. E. $185,000. 7. Yang Corporation afresh computed absolute assembly costs of $567,000 and absolute aeon costs of $420,000, excluding $35,000 of sales commissions that were disregarded by the company's authoritative assistant. On the base of this information, Yang's assets account should acknowledge the operating costs of: A. 35,000. B. $420,000. C. $455,000. D. $567,000. E. $602,000. 8. Which of the afterward entities would best acceptable accept raw materials, assignment in process, and accomplished goods? A. Exxon Corporation. B. Macy's Department Store. C. Wendy's. D. Southwest Airlines. E. Columbia University. 9. Affairs and authoritative costs would acceptable arise on the antithesis area of: A. The Gap. B. Texas Instruments. C. Turner Broadcasting System. D. All of these firms. E. None of these firms. 10. Mideast Motors articles automobiles. Which of the afterward would not be classified as absolute abstracts by the company? A. Wheel lubricant. B. Tires. C. Interior leather. D. CD player. E. Area metal acclimated in the automobile's body. 11. Which of the afterward advisers of a bartering printer/publisher would be classified as absolute labor? A. Bookbinder. B. Bulb aegis guard. C. Sales representative. D. Bulb supervisor. E. Payroll supervisor. 12. Lake Appliance produces washers and dryers in an assembly-line process. Action costs incurred during a contempo aeon were: accumulated executives, $500,000; assembly-line workers, $180,000; aegis guards, $45,000; and bulb supervisor, $110,000. The absolute of Lake's absolute action bulk was: A. $110,000. B. $180,000. C. $155,000. D. $235,000. E. $735,000. 13. Abrasion of branch accessories would be classified as: A. operating cost. B. "other" cost. C. accomplishment overhead. D. aeon cost. E. authoritative cost. 14. Which of the afterward costs is not a basic of accomplishment overhead? A. Aberrant materials. B. Branch utilities. C. Branch equipment. D. Aberrant labor. E. Property taxes on the accomplishment plant. 15. The accounting annal of Diego Aggregation arise the afterward costs, amid others: Costs that would be advised in the adding of accomplishment aerial total: A. $149,000. B. $171,000. C. $186,000. D. $442,000. E. some alternative amount. 16. Which of the afterward statements is true? A. Artefact costs affect alone the antithesis sheet. B. Artefact costs affect alone the assets statement. C. Aeon costs affect alone the antithesis sheet. D. Neither artefact costs nor aeon costs affect the Account of Retained Earnings. This can additionally be a accurate account if the aeon costs were prepaid (i. e. , prepaid advertising, depreciation). E. Artefact costs eventually affect both the antithesis area and the assets statement. 17. In a accomplishment company, the bulk of appurtenances completed during the aeon would accommodate which of the afterward elements? A. Raw abstracts used. B. Alpha accomplished appurtenances inventory. C. Marketing costs. D. Abrasion of commitment trucks. E. All of the above. 18. Which of the afterward equations is acclimated to account the bulk of appurtenances awash during the period? A. Alpha accomplished appurtenances + bulk of appurtenances bogus + catastrophe accomplished goods. B. Alpha accomplished appurtenances - catastrophe accomplished goods. C. Alpha accomplished appurtenances + bulk of appurtenances manufactured. D. Alpha accomplished appurtenances + bulk of appurtenances bogus - catastrophe accomplished goods. E. Alpha accomplished appurtenances + catastrophe accomplished appurtenances - the bulk of appurtenances manufactured. 19. Holden Industries began July with a finished-goods account of $48,000. The finished-goods account at the end of July was $56,000 and the bulk of appurtenances awash during the ages was $125,000. The bulk of appurtenances bogus during July was: A. $104,000. B. $125,000. C. $117,000. D. $133,000. E. some alternative amount. 20. Carolina Plating Aggregation arise a bulk of appurtenances bogus at $520,000, with the firm's anniversary antithesis area absolute assignment in action and accomplished appurtenances of $70,000 and $134,000, respectively.If added advice arise raw abstracts acclimated in the assembly of $80,000, absolute action of $140,000, and accomplishment aerial of $240,000, the company's alpha assignment in the action charge accept been: A. $130,000. B. $10,000. C. $66,000. D. $390,000. E. some alternative amount. 21. The accounting annal of Bronco Aggregation arise the afterward information: Bronco's bulk of appurtenances bogus is: A. $519,000. B. $522,000. C. $568,000. D. $571,000. E. some alternative amount. 22. The accounting annal of Brownwood Aggregation arise the afterward information: Brownwood's bulk of appurtenances awash is: A. $721,000. B. $730,000. C. $778,000. D. $787,000. E. some alternative amount. 23. For the year aloof ended, Cole Corporation's accomplishment costs (raw abstracts used, absolute labor, and accomplishment overhead) totaled $1,500,000. Alpha and catastrophe work-in-process inventories were $60,000 and $90,000, respectively. Cole's antithesis area additionally arise corresponding alpha and catastrophe finished-goods inventories of $250,000 and $180,000. On the base of this information, how abundant would the aggregation address as bulk of appurtenances bogus (CGM) and bulk of appurtenances awash (CGS)? A. CGM, $1,430,000; CGS, $1,460,000. B. CGM, $1,470,000; CGS, $1,540,000. C. CGM, $1,530,000; CGS, $1,460,000. D. CGM, $1,570,000; CGS, $1,540,000. E. Some alternative amounts. 24. Glass Industries arise the afterward abstracts for the year aloof ended: sales revenue, $1,750,000; bulk of appurtenances sold, $980,000; bulk of appurtenances manufactured, $560,000; and affairs and authoritative expenses, $170,000. Glass' gross allowance would be: A. $940,000. B. $1,190,000. C. $1,020,000. D. $380,000. E. $770,000. 25. Capricious costs are costs that: A. alter inversely with changes in activity. B. alter anon with changes in activity. C. abide connected as action changes. D. abatement on a per-unit base as action increases. E. access on a per-unit base as action increases. 26. Which of the afterward is not an archetype of a capricious cost? A. Straight-line abrasion on a apparatus that has a five-year account life. B. Wages of accomplishment workers whose pay is based on hours worked. C. Tires acclimated in the assembly of tractors. D. Aluminum acclimated to accomplish patio furniture. E. Commissions paid to sales personnel. 27. The anchored costs per assemblage are $10 back a aggregation produces 10,000 units of product. What are the anchored costs per assemblage back 8,000 units are produced? A. $12. 50. B. $10. 00. C. $8. 00. D. $6. 50. E. $5. 50. 28. 28. Absolute costs are $180,000 back 10,000 units are produced; of this amount, capricious costs are $64,000. What are the absolute costs back 13,000 units are produced? A. $199,200. B. $214,800. C. $234,000. D. Some alternative amount. E. Absolute costs cannot be affected based on the advice presented. 29. Baxter Company, which pays a 10% agency to its salespeople, arise sales revenues of $210,000 for the aeon aloof ended. If anchored and capricious sales costs totaled $56,000, what would these costs absolute at sales of $168,000? A. $16,800. B. $35,000. C. $44,800. D. $51,800. E. Some alternative amount. 30. The bacon that is sacrificed by a academy apprentice who pursues a amount abounding time is a(n): A. sunk cost. B. abroad cost. C. befalling cost. D. cogwheel cost. E. bordering cost. Essay Questions 1. Consider the three firms that follow: (1) Southwest Airlines, (2) BMW, and (3) Target. These firms, examples of account providers, manufacturers, and merchandisers, tend to accept altered characteristics with account to costs and financial-statement disclosures. Required: Actuate which of the above-mentioned firms (1, 2, and/or 3) would likely: A. Disclose operating costs on the assets statement. B. Accept artefact costs. C. Accept aeon costs. D. Disclose bulk of bulk acceptable awash on the assets statement . E. Accept no allusive advance in inventory. F. Maintain raw-material, work-in-process, and finished-goods inventories. G. Accept capricious and anchored costs. 2. Consider the afterward bulk items: Sales commissions becoming by a company's sales force. Raw abstracts purchased during the period. Current year's abrasion on a firm's accomplishment facilities. Year-end completed assembly of a carpeting manufacturer. The bulk of articles awash to barter of an accoutrement store. Wages becoming by apparatus operators in a accomplishment plant. Income taxes incurred by an airline. Marketing costs of an electronics manufacturer. Indirect action costs incurred by a architect of appointment equipment. Required: A. Evaluate the costs aloof cited and actuate whether the associated dollar amounts would arise on the firm's antithesis sheet, assets statement, or agenda of bulk of appurtenances manufactured. B. What above asset will commonly be bush for account enterprises and almost abundant for retailers, wholesalers, and manufacturers? Briefly discuss. C. Briefly explain the affinity and aberration amid the commodity account of a banker and the finished-goods account of a manufacturer. 3. Consider the afterward items: A. Tomatoes acclimated in the accomplish of Hunts ketchup B. Authoritative salaries of admiral active by Jet Blue Airlines C. Wages of assembly-line workers at a Ford plant D. Marketing expenditures of the Atlanta Braves baseball club E. Commissions paid to Coca-Cola's salespeople F. Straight-line abrasion on accomplishment accessories endemic by Dell Computer G. Shipping accuse incurred by Appointment Depot on out-going orders H. Speakers acclimated in Sony home-theater systems I. Insurance costs accompanying to a Mary Kay Cosmetics' accomplishment bulb Required: Complete the table that follows and allocate anniversary of the costs listed as (1) a artefact or aeon bulk and (2) a capricious or anchored bulk by agreement an "X" in the adapted column. 4. In discussing the operation of her automobile, a doctor already empiric that gasoline is a anchored bulk because the bulk per gallon is almost stable. Insurance, on the alternative hand, is a capricious bulk because the bulk per mile varies inversely with the cardinal of afar driven. Comment on the doctor's observation.

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