Midterm 1.docx - Midterm 1 39 Managerial accounting...

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Midterm 1 39. Managerial accounting information is generally prepared for a. stockholders.b. creditors.c. managers . d. regulatory agencies. 87. Product costs consist of 88. Which one of the following represents a period cost? 111. Walker Company reported the following year-end information:Beginning work in process inventory $ 46,000Beginning raw materials inventory 24,000Ending work in process inventory 50,000Ending raw materials inventory 20,000Raw materials purchased 830,000Direct labor 240,000Manufacturing overhead 100,000How much is Walker’s cost of goods manufactured for the year? >> DM + DL + MO = $830000 + $240000 + $100000 134. Which one of the following does not appear on the balance sheet of a manufacturing company? a. Finished goods inventoryb. Work in process inventoryc. Cost of goods manufacturedd. Raw materials inventory
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38. The two basic types of cost accounting systems are 60. The entry to record the acquisition of raw materials on account is
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