Test Bank for Introduction to Managerial Accounting, 2024 Release by Peter Brewer | Answers Included
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Course
Managerial Accounting
Institution
Managerial Accounting
Test Bank for Introduction to Managerial Accounting, 9e 9th Edition 2024 Release Evergreen by Peter Brewer, Ray Garrison, Eric Noreen and Norma Montague. Complete chapters (Chap 1 to 14) are included with answers.
1 Managerial Accounting and Cost Concepts
2 Job-Order Costing Calculating Uni...
Chapter 01 2024 Release - Brewer
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
answers the question.
1) Which of the following statements are true?
1. A factory supervisor's salary would be classified as an indirect cost with respect to a unit
of product.
2. A direct cost is a cost that can be easily traced to the particular cost object under
consideration.
3. A cost can be direct or indirect. The classification can change if the cost object changes.
A) Only statement I is true.
B) Statements I and II are true.
C) All of the statements are true.
D) None of the statements are true.
Question Details
AICPA : BB Critical Thinking
AICPA : FN Measurement
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-01 Understand cost classifications used for assigning costs to cost objects:
Topic : Cost Classifications for Assigning Costs to Cost Objects
Type : Static
Question Focus: Qualitative
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 1-1 (Static) Which of the following
statements...
1
,2) Which of the following statements are true?
1. Wages paid to production supervisors would be classified as manufacturing overhead.
2. Indirect costs, such as manufacturing overhead, are variable costs.
3. Selling costs are indirect costs.
4. Administrative costs are indirect costs.
A) Only statement I is true.
B) Statements I and III are true.
C) All statements are true.
D) None of the statements are true.
Question Details
AICPA : BB Critical Thinking
AICPA : FN Measurement
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-02 Identify and give examples of each of the three basic manufacturing cost c
Learning Objective : 01-04 Understand cost classifications used to predict cost behavior: variable co
Topic : Cost Classifications for Manufacturing Companies
Type : Static
Question Focus: Qualitative
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 1-2 (Static) Which of the following
statements...
2
,3) Which of the following statements are true?
1. The sum of all manufacturing costs except for direct materials and direct labor is called
manufacturing overhead.
2. The three cost elements ordinarily included in product costs are direct materials, direct
labor, and manufacturing overhead.
A) Only statement I is true.
B) Only statement II is true.
C) Both of the statements are true.
D) Neither of the statements are true.
Question Details
AICPA : BB Critical Thinking
AICPA : FN Measurement
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Bloom's : Remember
Business Competency : Reflective Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-02 Identify and give examples of each of the three basic manufacturing cost c
Topic : Cost Classifications for Manufacturing Companies
Type : Static
Question Focus: Qualitative
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 1-3 (Static) Which of the following
statements...
3
, 4) Which of the following statements are true?
1. Depreciation is always considered a period cost for external financial reporting purposes
in a manufacturing company.
2. Depreciation on equipment a company uses in its selling and administrative activities
would be classified as a period cost.
A) Only statement I is true.
B) Only statement II is true.
C) Both of the statements are true.
D) Neither of the statements are true.
Question Details
AICPA : BB Critical Thinking
AICPA : FN Measurement
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Understand
Business Competency : Reflective Thinking
Difficulty : 3 Hard
Gradable : automatic
Learning Objective : 01-02 Identify and give examples of each of the three basic manufacturing cost c
Learning Objective : 01-03 Understand cost classifications used to prepare financial statements: prod
Topic : Cost Classifications for Manufacturing Companies
Topic : Cost Classifications for Preparing Financial Statements
Type : Static
Question Focus: Qualitative
Source : Chapter 01 Test Bank - Algorithmic and Static > TB MC Qu. 1-4 (Static) Which of the following
statements...
4
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