The cost of direct materials and direct labor are called:

a.

The cost of a period

b.

The cost of a product

c.

Prime cost

d.

Transfer costs

Which one is not a feature of Managerial Accounting?

a.

Primary users are external users such as investors, banks, regulators, and suppliers.

b.

Internal measures and reports do not follow GAAP

c.

It is future-oriented.

d.

The time span of the reports varies from hourly information to 15-20 years

Which one is not a term of Cost-Volume-Profit Analysis?

a.

Relevant Range

b.

Target Income

c.

Contribution Margin Rate

d.

Breakeven Sales

Which one is not needed to find out Breakeven revenues?

a.

Margin of Safety

Managerial accounting is defined as:

a.

Collect, allocate and analyze the costs of production or activity, with the aim of determining the cost of production units

b.

A set of principles and organized procedures that help management in determining the cost of production.

c.

A theoretical social science with its concepts, assumptions and principles, and the art of being a practical application of the accounting cycle in its various stages

d.

The process of collecting and processing financial and non-financial data according to specific methods and rules in order to access information that serves the various departments in the facility to reach its objectives and implement its various functions.

b.

Variable Costs

c.

Revenues

d.

Fixed Costs

You will find examples for the term Cost Object below. Which one of the options is the most correct one? A cost object can be

a.

All of the options are correct.

b.

A Project

c.

A Department

Classification of costs according to their behaviour with volume into:

a.

Variable Cost

b.

All of what is mentioned is true

c.

Mixed Costs

d.

Fixed Cost

d.

A Product