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MANAGERIAL ACCOUNTING EXAM 1 WILEYPLUS WITH COMPLETE SOLUTIONS $12.99   Add to cart

Exam (elaborations)

MANAGERIAL ACCOUNTING EXAM 1 WILEYPLUS WITH COMPLETE SOLUTIONS

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  • Managerial Accounting

MANAGERIAL ACCOUNTING EXAM 1 WILEYPLUS WITH COMPLETE SOLUTIONSMANAGERIAL ACMANAGERIAL ACCOUNTING EXAM 1 WILEYPLUS WITH COMPLETE SOLUTIONSCOUNTING EXAM 1 WILEYPLUS WITH COMPLETE SOLUTIONS

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  • October 17, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • Managerial Accounting
  • Managerial Accounting
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HIGRADES
MANAGERIAL
ACCOUNTING EXAM 1
WILEYPLUS WITH
COMPLETE SOLUTIONS




Which none nof nthe nfollowing ndoes nnot nappear non nthe nbalance nsheet nof na
nmanufacturing ncompany?


Finished ngoods ninventory

Work nin nprocess ninventory

Raw nmaterials ninventory

Cost nof ngoods nmanufactured n- ncorrect nanswer-Cost nof ngoods nmanufactured

The nwages nof na ntimekeeper nin nthe nfactory nwould nbe nclassified nas

a nperiod ncost.

direct nlabor.

indirect nlabor.

,compliance ncosts. n- ncorrect nanswer-indirect nlabor.

Managerial naccounting napplies nto neach nof nthe nfollowing ntypes nof nbusinesses
nexcept


managerial naccounting napplies nto nall ntypes nof nfirms.

service nfirms.

merchandising nfirms.

manufacturing nfirms. n- ncorrect nanswer-managerial naccounting napplies nto nall
ntypes nof nfirms.


Managerial naccounting napplies nto nall nforms nof nbusiness norganizations.

True

False n- ncorrect nanswer-True

Direct nmaterials nand ndirect nlabor nare nthe nonly nproduct ncosts.

True

False n- ncorrect nanswer-False

Which none nof nthe nfollowing nis nnot na ndirect nmaterial?

Plastic nused nin nthe ncovered ncase nfor na nhome nPC

Steel nused nin nthe nmanufacturing nof nsteel-radial ntires

A ntire nused nfor na nlawn nmower

Lubricant nfor na nball-bearing njoint nfor na nlarge ncrane n- ncorrect nanswer-Lubricant
nfor na nball-bearing njoint nfor na nlarge ncrane


Because nof nautomation, nwhich ncomponent nof nproduct ncost nis ndeclining?

Advertising

Direct nmaterials

Direct nlabor

Manufacturing noverhead n- ncorrect nanswer-Direct nlabor

Management naccountants nwould nnot

, assist nin nbudget nplanning.

prepare nreports nprimarily nfor nexternal nusers.

determine ncost nbehavior.

be nconcerned nwith nthe nimpact nof ncost nand nvolume non nprofits. n- ncorrect
nanswer-prepare nreports nprimarily nfor nexternal nusers.


Determining nthe nunit ncost nof nmanufacturing na nproduct nis nan noutput nof nfinancial
naccounting.


True

False n- ncorrect nanswer-False

When nthe nphysical nassociation nof nraw nmaterials nwith nthe nfinished nproduct nis
ntoo nsmall nto ntrace nin nterms nof ncost, nthey nare nusually nclassified nas nindirect
nmaterials.


True

False n- ncorrect nanswer-True

Which nof nthe nfollowing nare nperiod ncosts?

Selling nexpenses

Raw nmaterials

Direct nmaterials nand ndirect nlabor

Direct nlabor nand nmanufacturing noverhead n- ncorrect nanswer-Selling nexpenses

Raw nmaterials ninventory nshows nthe ncost nof ncompleted ngoods navailable nfor nsale
nto ncustomers.


True

False n- ncorrect nanswer-False

Walker nCompany nreported nthe nfollowing nyear-end ninformation:

Beginning nwork nin nprocess ninventory n$ n46,000
Beginning nraw nmaterials ninventory n24,000
Ending nwork nin nprocess ninventory n50,000
Ending nraw nmaterials ninventory n20,000
Raw nmaterials npurchased n830,000
Direct nlabor n440,000
Manufacturing noverhead n100,000

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