1.	In a process cost system, the cost of completed production in Department A is transferred to Department B by which of the following entries?
	Debit Work in ProcessDept. B; credit Finished GoodsDept. A
	Debit Finished GoodsDept. A; credit Work in ProcessDept. B
	Debit Work in ProcessDept. B; credit Cost of Goods SoldDept. A
	Debit Work in ProcessDept. B; credit Work in ProcessDept. A None of the above
2.	For which of the following businesses would a process cost system be appropriate?
	Shampoo manufacturer
	Custom furniture manufacturer
	Dressmaker
	Boat repair service None of the above
3.	In order to be useful to managers, managerial accounting reports should possess all of the following characteristics except
	Be prepared in accordance with generally accepted accounting principles
	Be prepared to report information for any unit of the business to support decision making
	Be provided at any time management needs information Provide objective measures of past operations and subjective estimates about future decisions None of the above
4.	Thomlin Company forecasts that total overhead for the current year will be $15,500,000 with 250,000 total machine hours. Year to date, the actual overhead is $16,000,000, and the actual machine hours are 330,000 hours. The predetermined overhead rate based on machine hours is $62 per machine hour $50 per machine hour $45 per machine hour. $48 per machine hour $40 per machine hour

5.

Which of the following is not a reason a service firm would use a job order costing system?

A.				To determine client billing
B.		To determine profit
C.		To determine department costs within the firm
D.			To help control costs
E.	None of the above

6. Which of the following is most associated with managerial accounting?

A.		May rely on estimates and forecasts
B.		Always reports on the entire entity
C.		Is prepared for users outside the organization
D.		Must follow GAAP
E.	None of the above

7.

Managers use managerial information for all of the following except to

A.	Analyze the performance of a company's operations
B.	Determine the cost of manufacturing a product
C.	Support long-term planning decisions
D.	Evaluate the company's stock performance
E.	None of the above