2010-02-23_212950_mcqs_for_jamers

2010-02-23_212950_mcqs_for_jamers - Correct answers are...

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Correct answers are marked in yellow 1. Managerial accounting a. is used primarily by external users ,b.must follow GAAP ,c. is required by taxing authorities such as the IRS , d. is optional 2.Which of the following is a period expense? a.rent on factory building ,b.raw materials ,c.depreciation on production equipment ,d .commissions paid to sales personnel 3.A form used to accumulate the cost of producing an item is called a(n) a.job-cost sheet, b.material requisition ,c.balance sheet ,d.invoice 4.Why do we compute equivalent units differently for raw materials and conversion costs? a. raw materials are more difficult to count, b. conversion costs are more difficult to count , c.they are introduced into the process at different times , d. none of the above 5.Why is it necessary to compute equivalent units for separtely for materials and conversion costs? a. mistakes are made in the accounting for these costs , b. materials and conversion enter the production process at different rates, c. conversion costs are more difficult to estimate d.none of the above reasons are true. 6. the margin of safety is the difference between (Points: 5) a.total revenue and total fixed costs b.expected level of sales and the break-even point c.budgeted fixed costs and actual fixed costs d.selling price and variable cost per unit 7.The contribution margin per unit is the difference between (Points: 5) a.total revenue and total fixed costs
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b.selling price and variable costs per unit
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2010-02-23_212950_mcqs_for_jamers - Correct answers are...

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