The controller occupies
B. Staff Position
Decentralization refers to
Answer C. delegation of decision making
An example of a staff position
D) Human resource manager for a comm. college
Which of following not a 3 mjr cust val props
C.) Zero defects
Inventories consisting of units of product; partially complete...
C) Works in Progress
Managerial Accounting
concerned w/ providing info to mgrs- the people inside an org who direct and control its ops
plans of mgmt are expressed in
budgets
which characteristic of financial accounting
must follow GAAP
Corporate controllers salary would be considered
manufacturing cost
cost direct materials are classified as
manufacturing
Manufacturing overhead?
All manufacturing costs except direct materials and direct labor
The 3 basic elements of manufacturing costs are direct materials, direct labor, and
Manufacturing overhead
Prime cost consists of direct materials combined with
A)Direct labor
The cost of fire insurance for a manufacturing plant is generally considered to be a?
A) Product cost
example of a period cost is?
C) salesmen commission
16. Transportation costs incurred by a manufacturing company
C) Period Cost
17. Micro Computer Company has set up a toll free telephone line
D) Period Cost
18. Cost of goods manufactured will usually include?
Direct materials, direct labor, and manufacturing overhead.
19. Which 2 terms below describe wages paid to security guards that monitor a factory 24 hours a day?
D) Fixed cost and indirect cost
20. Within the relevant range, the difference between variable and fixed costs is
Total variable cost increases and decreases and Total fixed cost is not affected by changes
21. Each of the following would be classified as variable in terms of cost behavior except?
Plant managers salaries
22. The following costs were incurred in August:
c. 52,000
23. The following costs were incurred in August:
d. 38,000
24. During the month of August, direct labor cost totaled $13,000
B) 23,000
25. In August, direct labor was 60% of conversion cost
C) $51,000
27. Which costs will change with a decrease in activity with in the relevant range?
b. unit fixed costs and total variable cost
28. Within the relevant range, the variable cost per unit?
a. remains constant as activity changed
29. An increase in the activity level within the relevant range results in?
d. a decrease in fixed cost per unit
30. The linear equation Y=a + bx is often used to express cost formulas. In this equation:
a. the b term represents variable costs per unit of activity
31. An example of a discretionary fixed cost is
C) Management training,
32. Discretionary fixed costs?
D) None of above
33. An example of a cost that is variable with respect to the number of units produced and sold is?
B)Power to run production equipment
34. The cost of goods sold in a merchandising company typically would be classified as a?
A) Fixed Cost
35. A cost driver?
B)Also known as an activity base and is the measure
36. Contribution margin is the excess of revenues after?
D) All variable expenses have been deducted
37. The _________________ approach to the income statement organizes cost by function.
B) Traditional
38. _______________________ is a method of separating a mixed cost into its fixed and variable elements by fitting a regression line that minimizes the sum of the squared errors.
D)Least squares regression method
39. Dabbs Corporation has provided the following production and total cost data
D) 789,500
43. The cost that Stewart Company would classify as fixed would be
D. insurance and advertising
44. The cost that Stewart Company would classify as mixed would be
d. supplies and utilities