on the statement of cash flows, the cash flows from investing activities section would include all of the following except

a. payment for buildings

b. receipts from the sale of equipment

c. receipts from the sale of land

d. payments for inventories

2. Yield measures the ratio of the materials input quantity to the materials output quantity

True or False

3. For a local sandwich shop, making an order incorrectly would only include direct materials and direct labor costs

True or False

4. if sales total $2,400,000, fixed costs total $720,000, and variable costs are $1,440,000 of sales, the contribution margin ratio is 30%

True or False

5. Managerial accounting information relies only on historical data.

True or False

6. During the manufacturing process for 10,000 units of a product, direct materials, cost incurred was $265,000, direct labor cost incurred was $93,250, and applied factory overhead was $55,250. What is the total prime cost?

a. $148,500

b. 320,250

c. 265,000

d.358,250

7. If the overapplied factory overhead amount is large, it is allocated to only cost of goods sold at the end of the fiscal year.

True or False

8. Smith Company owns 47% of the outstanding stock of Wesson Company. Smith Company is referred to as the

a. cost method investor

b. equity method investor

c. subsidiary

d. equity method investee

9.For purposes of analysis, fixed costs can generally be separated into their variable and mixed components.

True or False