Man10e_sectest_01

Man10e_SecTest_01
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10th Edition MANAGERIAL ACCOUNTING Warren/Reeve/Duchac Chapters 1–3 Score % Name Course Section NOTE: Each of the 40 correct answers is assigned a weight of 2½ %. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—50% Section Test 1
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INSTRUCTIONS: Complete each of the following statements by writing the appropriate words in the Answers column. For Scoring STATEMENTS Answers 0. The chief management accountant is called the . .................................. controller 0. ____ 1. A diagram of the operating structure of a business is known as a(n) . .. 1. ____ 2. The vice-president of manufacturing of a manufacturing business occupies a (line or staff) position. . ......................................................... 2. ____ 3–7. The five basic phases in the management process are: 3. ................................................................................................................. 3. ____
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4. ................................................................................................................. 4. ____ 5. ................................................................................................................. 5. ____ 6. ................................................................................................................. 6. ____ 7. ................................................................................................................. 7. ____ 8. A _________ cost system is best suited for a manufacturer of gasoline. . ................................................................................................ 8. ____ 9–11. The three categories of manufacturing costs comprising the cost of finished goods inventory are: 9. ................................................................................................................. 9. ____
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10. ................................................................................................................. 10. ____ 11. ................................................................................................................. 11. ____ 12. The form used to record the amount of time spent by each employee and the labor cost incurred for each individual job is a(n) . .................... 12. ____ 13. A predetermined factory overhead rate is determined by dividing the estimated total factory overhead costs by a(n) . ..................................... 13. ____ 14–16. The three inventory accounts of a manufacturing business are: 14. ................................................................................................................. 14. ____ 15. ................................................................................................................. 15. ____
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16. ................................................................................................................. 16. ____ 17. The amount of overapplied factory overhead at the end of a month is reported on the interim balance sheet as a(n) . ...................................... 17. ____
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