QUESTION 18 Lakeland, Inc, manufactured 5.000 units during the month of March. They incurred direct materials cost of $100,000 and overhead cost of $40,000. If their per-unit prime cost was $26.00 per unit how much direct labor cost did they incur during March? O $20,000 O $35.000 $90,000 O $30,000 QUESTION 19 Figure 23. Bartlow, Inc. had the following Income Statement for the month of May Sales Revenue Cost of Goods Sold Gross Margin Less Selling Expenses Administrative Expenses Operating Income $428.000 205440 222,560 81 320 72.760 5 68 480 Refer to Figure 2-3. What was the selling expense percent? O 17% 19% 16% no correct answer QUESTION 20 Figure 2-4 Junko Company makes financial calculators. During the year Junko manufactured 97.000 financial calculators. Finished Goods Inventory had the following units on hand January 1 December 31 1,260 1,040 Refer to Figure 2.4. If each financial calculator had a per-unit product cost of $112, what was the cost of Finished Goods Inventory on December 31? O 5116 480 $141,120 $24,640 none of those are correct QUESTION 21 Management accounting O provides objective financial information must adhere to GAAP has no mandatory rules none of these statements are true QUESTION 22 The primary objective of management accounting is to provide stockholders and potential investors with useful information for decision making to provide banks and other creditors with information useful in making credit decisions. to provide management with information useful for planning and control of operations. to provide the Internal Revenue Service with information about taxable income. QUESTION 23 The controller of an organization participates in O planning O controlling O decision making O all of these QUESTION 24 Financial Accounting O has no mandatory rules O is internally focused is concerned with the information about the firm as a whole has an emphasis on the future QUESTION 25 Total quality management emphasizes zero defects. continual improvement elimination of waste. all of these QUESTION 26 Developing a company strategy for responding to anticipated new markets is an example of O planning controlling decision making all of these. QUESTION 27 Which of the following would occupy a line position in a hospital? manager of the cafeteria hospital administrator chief of surgery none of these QUESTION 28 Activity-based costing is a traditional costing method encourages process value analysis always results in a lower cost assigned to goods or services O all of these QUESTION 29 Persons in the United States who provide assurance service are designated as Certified Public Accountants. Certified Financial Accountants. Chartered Accountants Certified Management Accountants. QUESTION 30 Which of the following areas is not emphasized on the CMA examination? external auditing and business law economics, finance, and management decision analysis and information systems O financial accounting and reporting