Accounting Final Flashcards


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1

Managerial Accounting

has no mandatory rules.

2

the primary objective of managerial accounting is

to provide management w/ information useful for planning and control of operations.

3

Which of the following is not an example of a direct materials cost

glue used to build cabinets

4

A variable cost in total:

increases as output increases and decreases as output decreases.

5

which one of the following cost is an example of manufacturing overhead cost

glue to put cabinets together

6

non-manufacturing cost include

marketing and administration

7

which of the following would not be a period cost

direct materials

8

which of the following would be an example of a direct materials cost

cost of an engine for an airplane

9

direct labor is usually a

product cost

10

Which of the following is Not correct about variable costs within the relevant range

It stays constant in total as output changes

11

Which of the following is correct about fixed costs

fixed costs per unit decrease as the output quantity increases

12

which one of the following would most likely be an example of a variable cost in a furniture factory

bolts and nuts used to put together tables

13

which one of the following is not a valid method of estimating the cost function of a mixed cost based on observations of actual output quantities and actual costs

standard deviation method

14

total contribution margin divided by total sales is the

contribution margin ratio

15

at the break even point

total contribution margin equals total fixed cost

16

if variable costs per unit increase, sales volume at the break even point will

increase

17

If fixed costs increase while holding all other variables constant, the break even point in units will

increase

18

Which of the following is Not a characteristic of job order costing

Unit cost is computed by dividing process costs of the period by the units produced in the period

19

Which method of measuring costs associated with production is more widely used in practice

normal costing

20

which one of the following can help a company become more competitive by providing more accurate cost data

active-based costing