Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Would really appreciate some aid in my ACCT homework. I really need the last two word problems answered more than anything else. 1. Which is

Would really appreciate some aid in my ACCT homework. I really need the last two word problems answered more than anything else.

image text in transcribed 1. Which is not a characteristic of managerial accounting information? A. B. C. D. Provides information that is useful to internal decision makers Provides detailed information about individual parts of the company Not required to follow GAAP Focuses on past results 2. Which of the following is a software system used to integrate company functions, departments, and data? A. Total Quality Management B. Enterprise Value Chain C. Enterprise Resource Planning D. Just-in-Time Management 3. Which of the following characteristics of today's business environment is most closely associated with the philosophy of continuous improvement? A. B. C. D. Global competition Total Quality Management Time-based competition E-commerce 4. Which of the following accounts is used by a manufacturing company but not by a service company? A. B. C. D. Cost of Goods Sold Salaries Payable Supplies Expense Retained Earnings 5. Goods available for sale that are not part of Cost of Goods Sold are included in A. B. C. D. Work-in-Process Inventory beginning balance. Work-in-Process Inventory ending balance. Finished Goods Inventory beginning balance. Finished Goods Inventory ending balance. 6. Which of the following is a direct cost of manufacturing a sport boat? A. B. C. D. Salary of the engineer who rearranges the boat factory layout Depreciation on equipment used to manufacture the boat Cost of a boat engine Cost of a boat customer hotlin 7. Which of the following is not a product cost? A. B. C. D. Advertising expense Plant manager's salary Insurance on plant and equipment Depreciation on quality control equipment Questions 8 and 9 use the data in the following table, which has been provided by a bakery: Beginning Raw Materials Inventory $ 6,000 Ending Raw Materials Inventory 9,000 Beginning Work-in-Process Inventory 12,000 Ending Work-in-Process Inventory 17,000 Beginning Finished Goods Inventory 3,000 Ending Finished Goods Inventory 5,000 Manufacturing Overhead 21,000 Direct labor 30,000 Raw materials used in production 95,000 8. What is cost of raw materials purchased? A. $ 3,000 B. $ 92,000 C. $ 98,000 D. $110,000 9. What is the cost of goods manufactured? A. B. C. D. $125,000 $141,000 $146,000 $151,000 10. A management accountant who communicates information fairly and objectively meets the ethical standard of A. integrity. B. confidentiality. C. competence. D. credibility

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fundamentals Of Financial Accounting

Authors: Fred Phillips, Shana Clor Proell, Robert Libby, Patricia Libby

7th Edition

1265440166, 978-1265440169

More Books

Students also viewed these Accounting questions