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Managerial Accounting 12th Edition Warren Test Bank 1
Managerial Accounting 12th Edition Warren Test Bank 1
Test Bank
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Student: ___________________________________________________________________________
1. In determining cost of goods sold, two alternate costing concepts can be used: absorption costing and variable
costing.
True False
2. In determining cost of goods sold, two alternate costing concepts can be used: direct costing and variable
costing.
True False
3. Fixed factory overhead costs are included as part of the cost of products manufactured under the absorption
costing concept.
True False
4. Under absorption costing, the cost of finished goods includes direct materials, direct labor, and all factory
overhead.
True False
5. Under absorption costing, the cost of finished goods includes only direct materials, direct labor, and variable
factory overhead.
True False
6. In variable costing, the cost of products manufactured is composed of only those manufacturing costs that
increase or decrease as the volume of production rises or falls.
True False
7. In variable costing, fixed costs do not become part of the cost of goods manufactured, but are considered an
expense of the period.
True False
9. Property taxes on a factory building would be included as part of the cost of products manufactured under the
absorption costing concept.
True False
10. The factory superintendent's salary would be included as part of the cost of products manufactured under the
variable costing concept.
True False
11. The factory superintendent's salary would be included as part of the cost of products manufactured under the
absorption costing concept.
True False
12. Electricity purchased to operate factory machinery would be included as part of the cost of products
manufactured under the absorption costing concept.
True False
13. The absorption costing income statement does not distinguish between variable and fixed costs.
True False
14. In the absorption costing income statement, deduction of the cost of goods sold from sales yields gross
profit.
True False
15. In the absorption costing income statement, deduction of the cost of goods sold from sales yields
contribution margin.
True False
16. In the absorption costing income statement, deduction of the cost of goods sold from sales yields net profit.
True False
17. On the variable costing income statement, deduction of the variable cost of goods sold from sales yields
gross profit.
True False
18. On the variable costing income statement, deduction of the variable cost of goods sold from sales yields
manufacturing margin.
True False
19. On the variable costing income statement, all of the fixed costs are deducted from the contribution margin.
True False
20. On the variable costing income statement, variable selling and administrative expenses are deducted from
manufacturing margin to yield contribution margin.
True False
21. On the variable costing income statement, variable costs are deducted from contribution margin to yield
manufacturing margin.
True False
22. On the variable costing income statement, the figure representing the difference between the contribution
margin and income from operations is the fixed manufacturing costs and fixed selling and administrative
expenses.
True False
23. The contribution margin and the manufacturing margin are usually equal.
True False
24. For a period during which the quantity of inventory at the end was larger than that at the beginning, income
from operations reported under variable costing will be larger than income from operations reported under
absorption costing.
True False
25. For a period during which the quantity of inventory at the end was larger than that at the beginning, income
from operations reported under variable costing will be smaller than income from operations reported under
absorption costing.
True False
26. For a period during which the quantity of inventory at the end was smaller than that at the beginning,
income from operations reported under variable costing will be larger than income from operations reported
under absorption costing.
True False
27. For a period during which the quantity of inventory at the end was smaller than that at the beginning,
income from operations reported under variable costing will be smaller than income from operations reported
under absorption costing.
True False
28. For a period during which the quantity of inventory at the end equals the inventory at the beginning, income
from operations reported under variable costing will be smaller than income from operations reported under
absorption costing.
True False
29. For a period during which the quantity of inventory at the end equals the inventory at the beginning, income
from operations reported under variable costing will equal income from operations reported under absorption
costing.
True False
30. For a period during which the quantity of product manufactured exceeded the quantity sold, income from
operations reported under absorption costing will be smaller than income from operations reported under
variable costing.
True False
31. For a period during which the quantity of product manufactured exceeded the quantity sold, income from
operations reported under absorption costing will be larger than income from operations reported under variable
costing.
True False
32. For a period during which the quantity of product manufactured was less than the quantity sold, income
from operations reported under absorption costing will be larger than income from operations reported under
variable costing.
True False
33. For a period during which the quantity of product manufactured was less than the quantity sold, income
from operations reported under absorption costing will be smaller than income from operations reported under
variable costing.
True False
34. For a period during which the quantity of product manufactured equals the quantity sold, income from
operations reported under absorption costing will equal the income from operations reported under variable
costing.
True False
35. For a period during which the quantity of product manufactured equals the quantity sold, income from
operations reported under absorption costing will be smaller than the income from operations reported under
variable costing.
True False
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The Project Gutenberg eBook of Angola and the River
Congo, vol. 1
This ebook is for the use of anyone anywhere in the United States and
most other parts of the world at no cost and with almost no restrictions
whatsoever. You may copy it, give it away or re-use it under the terms of
the Project Gutenberg License included with this ebook or online at
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have to check the laws of the country where you are located before using
this eBook.
Language: English
IN TWO VOLUMES.
V . I.
London:
MACMILLAN AND CO.
1875.
All Rights Reserved.
LONDON:
PRINTED BY WILLIAM CLOWES AND SONS,
STAMFORD STREET AND CHARING CROSS.
TO
ROSE MY WIFE
I Dedicate this Work
IN LOVING REMEMBRANCE OF THE HAPPY DAYS WE PASSED TOGETHER IN THE
PEACEFUL STILLNESS AND TROPICAL LUXURIANCE OF THE VAST SOLITUDES OF
ANGOLA.
PREFACE.
PAGE
CHAPTER I.
H 1
CHAPTER II.
P G —C V —
23
R
CHAPTER III.
T R C B —S T —
S —O P —I 53
N —I
CHAPTER IV.
T R C —B —P L —
B —M T —P —M 81
T —F —P C —P W
CHAPTER V.
C R C A —
V —T —C —C —
100
P —I —M —S D —S
—M P
CHAPTER VI.
A —T —M —R B —
T —M —Q Q — 152
N —Q B
CHAPTER VII.
B —M D —R P —
E —M C —F —K
189
C —R —C —S S —
F —R A
CHAPTER VIII.
C N —F —C —A 238
W —D —Z T —B —I
CHAPTER IX.
C M ,A ,
M N —M P ;
280
P —C P —B —R —
W A —N B —S S
LIST OF ILLUSTRATIONS.