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EXAM1 - 1 a ,products, tomanagement b ,controlling,...

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1. Which of the following is NOT an objective of Management Accounting? a. To provide information for costing of services, products, and other objects of interest  to management. b. To provide information for planning, controlling, evaluating and continuous  improvement. c. To provide information for decision making d. To prepare external reports for investors, creditors, government agencies, and other  outside users. 2. All of the following are characteristics of a pull production system EXCEPT: 3. Which of the following is NOT a period cost? 4. Smithfield Company’s Trial Balance included the following accounts: Net Operating Income……………………………………………………. $10,000 Ending Finished Goods Inventory………………………………….. $5,000 Sales………………………………………………………………………………. $40,000 Cost of Goods Manufactured…………………………………………. $16,000 Gross Profit……………………………………………………………………. $17,000       What is the Beginning Finished Goods Inventory Cost? 5. At a sales volume of 20,000 units, total costs are $55,000.  The company’s variable cost  per unit is $1.50.  What should be the total fixed cost at a sales volume of 30,000 units,  assuming that it is within the relevant range?
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a. $25,000 b. $30,000 c. $45,000 d. Cannot Be Determined.
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