ADMS 2510 Managerial Accounting - York University - All QUIZZES PLUS EXAM

Question 1 Helix Company produces costumes used in the television and movie industries. Recently the company received an ongoing order for Samurai robes to be worn in an upcoming Japanese historical action series made for television. The company uses a standard costing system to assist in the con...

Chapter 13 Relevant Costs for Decision Making 652 Garrison, Managerial Accounting, 12th Edition True/False Questions 1. Fixed costs are sunk costs and are therefore irrelevant in decisions. Answer: False Level: Easy LO: 1 2. A complete income statement must be prepared as part of a differenti...

Chapter 4 Systems Design: Process Costing Garrison, Managerial Accounting, 12th Edition 125 True/False Questions 1. When materials are purchased in a process costing system, a work in process account is debited with the cost of the materials. Answer: False Level: Easy LO: 1 2. Any difference...

Question 1 Sunrise Pools and Spas manufactures fibreglass forms for in-ground pools and swim spas for all-season use. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provi...

Chapter 10 1. Standard costs should generally be based on the actual costs of prior periods. Ans: False Difficulty: Easy 2. The standard direct labour rate should NOT include fringe benefits. Ans: False Difficulty: Easy 3. From a standpoint of cost control, the most effective time to recognize ...

Chapter 3 1. Job-order costing is more likely to be used than process costing in situations where many different products or services are produced each period to customer specifications. Ans: True Difficulty: Easy 2. Job-order costing is used in manufacturing companies and process costing is use...

Chapter 7 1. A shift in the sales mix from products with a low contribution margin ratio toward products with a high contribution margin ratio will lower the break-even point in the company as a whole. Ans: True Difficulty: Medium 2. The break-even point in units can be obtained by dividing tot...

Chapter 5 1. When combining activities in an activity-based costing system, activities should be grouped together at the same level. For example, batch-level activities should not be combined with unit-level activities. Ans: True Difficulty: Easy 2. Unit-level activities arise as a result of th...

Week 9: Tutorial problems 11-2, 11-5, 11-23 EXERCISE 11–2 Segmented Income Statement Bovine Company, a wholesale distributor of umbrellas, has been experiencing losses for some time, as shown by its most recent monthly contribution format income statement below: Sales $2,000,000 Variable ...

Chapter 2 Cost Terms, Concepts, and Classifications Garrison, Managerial Accounting, 12th Edition 15 True/False Questions 1. Manufacturing overhead is an indirect cost with respect to units of product. Answer: True Level: Medium LO: 1 2. Depreciation on office equipment would not be included ...

Exercise 2-9: Gelinas Computer Co was organized on May1. On that date the company purchased 22,000 USB flash drives to be sold with personal computers, each preloaded with the company’s product information brochures. The front of the USB flash drives displays the company’s name and an attra...