Question 6 Contribution margin is: sales less cost of goods sold sales less variable production, variable selling,
Question:
Question 6
Contribution margin is:
sales less cost of goods sold
sales less variable production, variable selling, and variable administrative expenses
sales less operating expenses
sales less all variable and fixed expenses
Question 8
Managerial accounting:
is primarily concerned with providing information to external users
must always follow generally accepted accounting principles
provides information to help managers make decisions in the future
emphasizes objectivity and verifiability
Question 9
1pts
During October, Clyde Barrow Corporation incurred $62,000 of direct labor costs and $4,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a:
debit to Work in Process of $62,000
debit to Work in Process of $66,000
debit to Work in Process of $4,000
credit to Work in Process of $66,000
Question 10
1pts
During December, $74,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a:
debit to Raw Materials of $74,000
debit to Manufacturing Overhead of $6,000
debit to Manufacturing Overhead of $74,000
debit to Work in Process of $74,000