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Session 1

Session 1

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Published by Amol Kothawade

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Published by: Amol Kothawade on Nov 02, 2012
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02/09/2014

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Measuring the performance of managers and subunits is not an objective of managerial accounting.
 
TrueFalseThe day-to-day work of management teams will typically comprise all of the following activities except:
 
controlling.cost minimizing.decision making.planning.directing operational activities.Given the following information, what is the cost of unused capacity? Cost of material supplied is $8,600; Cost of material used is $8,000; Cost of material used per shelf is $8; Cost of material supplied per shelf is $8.60.
 
$6,000.$0.60.There is no unused capacity.$600.$1,000.In order for a company to achieve a sustainable competitive advantage, it must perform value chain activities:
 
at the same quality level as competitors, but at a lower cost.at the same quality level as competitors, at the same cost.at a higher quality level than competitors, but at no greater cost.Either choice "B" or "D" above.at a higher quality level than competitors, at a higher cost.
Indirect labor is
not
a component of manufacturing overhead.
TrueFalse
 
The following equation -- Beginning finished goods + cost of goods manufactured - endingfinished goods -- is used to calculate cost of goods sold during the period.
TrueFalseTires.CD player.Sheet metal used in the automobile's body.Interior leather.Wheel lubricant.Lake Appliance produces washers and dryers in an assembly-line process. Payroll costs incurred during a recentperiod were: corporate executives, $500,000; assembly-line workers, $180,000; security guards, $45,000; and plantsupervisor, $110,000. The total of Lake's direct labor cost was:
 
$110,000.$180,000.$235,000.$155,000.$735,000.Which of the following employees would not be classified as indirect labor?
 
C. Assembler of wooden furniture.E. Choices "B" and "C." A. Plant Custodian.B. Salesperson.D. Plant security guard.Depreciation of factory equipment would be classified as:
 
administrative cost."other" cost.
 
 
opportunity cost.manufacturing overhead.variable cost.
Which of the following costs is
not
a component of manufacturing overhead?
Indirect materials.Factory utilities.Indirect labor.Property taxes on the manufacturing plant.Factory equipment.The variable costs per unit are $6 when a company produces 12,000 units of product. What are the variable costs per unit when 14,000 units are produced?
 
$4.50.$6.00.$5.00.Some other amount.$5.50.
1 out of1.00 point
 
Total costs are $180,000 when 10,000 units are produced; of this amount, variable costs are $64,000. What are thetotal costs when 13,000 units are produced?Some other amount.$214,800.$199,200.$234,000.Total costs cannot be calculated based on the information presented.Temperance, Inc. is studying marketing cost and sales volume, and has generated the following information by use of a scatter diagram and a least-squares regression analysis:
Scatter Diagram Regression AnalysisVariable cost per unit sold $ 6.00 $ 6.50

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