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cost and management accounting quiz 1 - Take Test Quiz 1...

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§ Take Test: Quiz 1 Chapters 1,2,3,10 and 11 Content § Instructions Name Quiz 1 Chapters 1,2,3,10 and 11 Instructions Multiple Attempts This Test allows 3 attempts. This is attempt number 1. Force Completion This Test can be saved and resumed later. Test/Survey Status § Error: Reference source not found Question 1 1. § Answer the following questions using the information below: Pederson Company reported the following: Manufacturing costs $2,000,000 Units manufactured 50,000 Units sold 47,000 units sold for $75 per unit Beginning inventory 0 units What is the amount of ending finished goods inventory? Answer §
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Err or: Ref ere nce sou rce not fou nd $12 0,0 00 Err or: Ref ere nce sou rce not fou nd $1, 880 ,00 0 Err or: Ref ere nce sou rce not fou nd $10 5,0 00 Err or: Ref ere
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1 points Question 2 1. § Indirect manufacturing costs: Answer §
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Err or: Ref ere nce sou rce not fou nd gen eral ly incl ude the cost of mat eria l and the cost of lab our Err or: Ref ere nce sou rce not fou nd can be easi ly ide ntifi ed with the cost
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1 points Question 3 1. § Merchandise inventory a° ° ° would normally include: Answer §
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Err or: Ref ere nce sou rce not fou nd dire ct mat eria ls in stoc k and awa iting use in the ma nuf act urin g pro ces s Err or: Ref ere nce sou rce not fou nd pro duc ts in thei r orig
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1 points Question 4 1. § For external reporting: Answer §
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Err or: Ref ere nce sou rce not fou nd cost s are clas sifie d as eith er inve ntor iabl e or peri od cost s Err or: Ref ere nce sou rce not fou nd cost s incl ude am oun ts that refl ect
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1 points Question 5 1. § Inventoriable costs: Answer §
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Err or: Ref ere nce sou rce not fou nd are part icul arly use ful in ma nag em ent acc oun ting Err or: Ref ere nce sou rce not fou nd are also refe rred to as non ma nuf act urin g cost
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1 points Question 6 1. § Kym Manufacturing provided the following information for last month: Sales $12,000 Less: Variable costs $4,000 Fixed Costs $1,000 Operating income $7,000 If sales double next month, what is the projected operating income? Answer §
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Err or: Ref ere nce sou rce not fou nd $19 ,00 0 Err or: Ref ere nce sou rce not fou nd $14 ,00 0 Err or: Ref ere nce sou rce not fou nd $18 ,00 0 Err or: Ref ere nce
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1 points Question 7 1. § Answer the following questions using the information below: Penny's TV and Appliance Store is a small company that has hired you to perform some management advisory services. The following information pertains to 20X5 operations. Sales (2,000 televisions) $ 900,000 Cost of goods sold 400,000 Store manager's salary per year 70,000 Operating costs per year 157,000 Advertising and promotion per year 15,000 Commissions (4% of sales) 36,000 Which cost estimation method is being used by Penny's TV and Appliance Store? Answer §
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Err or: Ref ere nce sou rce not fou nd the ind ustr ial eng ine erin g met hod Err or: Ref ere nce sou rce not fou nd the qua ntit ativ e ana lysi s met hod Err or: Ref ere nce sou
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1 points Question 8 1.
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