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Question 1 Managerial accounting O information generally pertains to an entity as a I.vhole and is very detailed. O applies only to manufacturing companies. 0 focuses primarily on reports for both internal and external users. 0 provides tools that help management make decisions and evaluate the effectiveness of those decisions. Question 10 A materials requisition slip showed that total materials requested were $21380 with $780 of this amount consisting of indirect materials. What entry is made to record the transfer of materials from the storeroom? Work in Process Inventory 20600 Manufacturing Overhead 780 Raw Materials Inventory 21380 O Work in Process Inventory 21380 Raw Materials Inventory 21380 Direct Materials 20600 Indirect Materials 780 Work in Process Inventory 21380 O Manufacturing Overhead 21380 Raw Materials Inventory 21380Question 2 The value chain O is affected by technology through business-to-business on the Internet. O refers to all the activities associated with providing a product with the exception of research and development. O has not been enhanced by computerization and automation. O refers to all the activities associated with providing a service with the exception of sales and marketing.Question 3 Lean manufacturing is being used less often by manufacturing rms. is in contrast to traditional massproduction operations. is apt to he used by rms that use large amounts of direct labour to produce their products. sets out to minimize rather than eliminate 5935123. 0000 Question 4 The theory of constraints refers to O identifying bottlenecks that impede a company's ability to provide a good or service. O fixing bottlenecks to maximize profitability. O the cost/benefit trade-off. O identifying bottlenecks that impede a company's ability to provide a good or service and fixing bottlenecks to maximize profitability.Question 5 Examples of fixed costs include all but one of the following: O cost of factory rent for the 12 month contract term. cost of Janet's apartment rent during her 3rd year of university. O cost of a car rental which includes a fee per km driven. O a one-week rental of a carpet cleaning machine.Question 6 # Machine Maintenance Month Hours (X) Costs (Y) Jan 3,000 $440 Feb 4,500 $690 Mar 8,000 $510 Apr 7,000 $600 May 6,000 $550 Jun 9,000 $980 Jul 3,500 $840 Aug 5,500 $600 What does the slope represent? O the rate at which the X variable changes as a result of the Y variable O the rate at which the Y variable changes as a result of the X variable O the rate at which the dependent variable changes as a result of the fixed cost component O the rate at which the independent variable changes as a result of changes in the dependent variableQuestion 7 Concord Manufacturing Inc.'s accounting records reflect the following inventories: Dec. 31, 2019 Dec. 31, 2020 Raw materials inventory $100000 $80900 Work in process inventory 130000 144100 Finished goods inventory 124700 115400 During 2020, Concord purchased $950900 of raw materials, incurred direct labour costs of $125400, and incurred manufacturing overhead totalling $160400. Concord Manufacturing's cost of goods manufactured for 2020 amounted to $1241700. How much would it report as cost of goods sold for the year? $1251000 O $1288500 $1367100 $1232400Question 8 Variable costs are costs that O vary in total directly and proportionately with changes in the activity level. O remain the same per unit at every activity level. O vary in total directly and proportionately with changes in the activity level and remain the same per unit at every activity level. O neither of the above.Question 9 Bayview Manufacturing has $16,000 of under-applied overhead in Manufacturing Overhead at December 31 and the following account balances at year end: Work in Process Inventory $10,000 Finished Goods Inventory 20,000 Cost of Goods Sold 70,000 Total costs $100,000 The portion of under-applied overhead that should be applied to Cost of Goods Sold using proration method is O $16,000. O $11,200. O $1,120. O ($11,200)
