1. Managerial accounting: A) is more future oriented than financial accounting. B) tends to summarize information more than financial accounting C) is primarily concerned with providing information to external users. D) is more concerned with precision than timeliness. 2. The function of management that compares planned results to actual results is known as: A) planning. B) directing and motivating. C) controlling. D) decision making. 3. Which of the functions of management
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delivery. Which of the following could be the constraint at Pizza World? A) the person who makes the pizza crust. B) the person who puts toppings on the pizzas. C) the pizza oven. D) any of the above could be the constraint. 2. The Standards of Ethical Conduct for Management Accountants developed by the Institute of Management Accountants contain a policy regarding confidentiality that requires management accountants to refrain from disclosing confidential
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effects would be anticipated with respect to each of the following? Fixed Cost Per Unit Variable Cost Per Unit Increase No Change CORRECT Increase Increase No Change No Change No Change Increase 5. Question: (TCO F) Emco Company uses direct labor cost as a basis for computing its predetermined
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1. (TCO F) Buckhorn Corporation bases its predetermined overhead rate on the estimated machine hours for the upcoming year. Data for the upcoming year appear below. Estimated machine hours - 85,000 Estimated variable manufactruring overhead - $5.55 per machine hour Estimated total fixed manufacturing overhead - $951,888 Compute the company's predetermined overhead rate. Total variable manufacturing overhead = $5.55 * 85000 = $471750 So, total predetermined overhead = $951888 - 471450 =
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Managerial Accounting Exercise: 1. (TCO A) Wages paid to the factory manager are considered an example of: Direct Labor - yes, Period Cost - yes Direct Labor - yes, Period Cost - No Direct Labor - no , Period Cost - yes Direct Labor - no , Period Cost - no 2. (TCO A) Machinery Depreciation on a manufacturing plant is an element of: Conversion cost - yes, period cost - no Conversion cost - yes, period cost - yes Conversion
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Question : | (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larden Corporation for the just-completed year. | Sales | $950 | | Purchases of raw materials | $170 | | Direct labor | $210 | | Manufacturing overhead | $220 | | Administrative expenses | $180 | | Selling expenses | $140 | | Raw materials inventory, beginning | $70 | | Raw materials inventory, ending | $80 | | Work-in-process
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[pic]variable costs [pic]conversion costs [pic]product costs [pic]fixed costs 4. When the activity level is expected to decline within the relevant range, what effects would be anticipated with respect to each of the following? [pic]Fixed Costs per Unit Increase and Variable Costs per Unit Increase [pic]Fixed Costs per Unit Increase and Variable Costs per Unit do not change [pic]Fixed Costs per Unit do not change and Variable Costs per Unit do not
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1. (TCO A) The following data (in thousands of dollars) have been taken from the accounting records of Larop Corporation for the just-completed year: | Sales................................................................................. | $910 | | Purchases of raw materials................................................ | $225 | | Direct labor....................................................................... | $245 | | Manufacturing overhead...............................
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5) 3. (TCO B) Evergreen Corp. has provided the following data: (Points : 5) 4. (TCO B) Garth Company sells a single product. If the selling price per unit and the variable expense per unit both increase by 10% and fixed expenses do not change, then: (Points : 5) 5. (TCO E) Rebel Company manufactures a single product and has the following cost structure: Variable costs per unit:……………. (Points : 5) 6. (TCO F) Vagon Corporation has provided data concerning the company's Manufacturing Overhead account
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Lesky, has little background in accounting. Today, he walked in to your office and said, “A year ago we bought a piece of land for $100,000. This year, inflation has driven prices up by 6%, and an appraiser just told us we could easily resell the land for $115,000. Yet our balance sheet still shows it at $100,000. It should be valued at $115,000. That’s what it’s worth. Or, at a minimum, at $106,000.” Respond to this statement with specific reference to the accounting principles applicable in this
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