Course Hero Logo

Cma examination questions page 45 of 108 management

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 45 - 47 out of 108 pages.

CMA EXAMINATION QUESTIONSPage 45 of 108
MANAGEMENT ADVISORY SERVICESCOST ACCOUNTING DEFINITIONS183.The cost of direct materials purchased during the year amounted to:Direct labor cost charged to production during the year was184.Direct labor costs charged to production during the year amounted to:Cost of Goods Manufactured was$636.c.$736.b.$716.d.$766.185.The cost of goods manufactured during the year was:B.$716D.$766186.The cost of goods sold during the year was:RM Used, Direct Labor, COGM & COGSQuestions 37 through 40 are based on the following information.BarfieldsThe following information has been taken from the cost records of T Co. for the past year:Raw material used in production$326Total manufacturing costs charged to production during the year (includesdirect material, direct labor, and overhead equal to 60% of directlabor cost)686Cost of goods available for sale826Selling and Administrative expenses25InventoriesBeginningEndingRaw Material$75$85Work in Process8030Finished Goods90110(Set A)G & N 9eThe following data (in thousands of dollars) have been taken from the accounting records of KarlingCorporation for the just completed year.Sales$990Raw materials inventory, beginning$ 40Raw materials inventory, ending$ 70Purchases of raw materials$120Direct labor$200Manufacturing overhead$230Administrative expenses$150Selling expenses$140Work in process inventory, beginning$ 70Work in process inventory, ending$ 50Finished goods inventory, beginning$120Finished goods inventory, ending$160Use these data to answer the following series of questions.66.The cost of the raw materials used in production during the year (in thousands of dollars)was: (E)37.The cost of raw material purchased during the year wasb.$336.d.$411.38.Direct labor cost charged to production during the year was39.Cost of Goods Manufactured wasa.$636.c.$736.b.$716.d.$766.40.Cost of Goods Sold wasRM Used, COGM, COGS, Operating IncomeQuestions 66 thru 69 are based on the following information.(Set A)G & N 9eThe following data (in thousands of dollars) have been taken from the accounting records of KarlingCorporation for the just completed year.Sales$990Raw materials inventory, beginning$ 40Raw materials inventory, ending$ 70Purchases of raw materials$120Direct labor$200Manufacturing overhead$230Administrative expenses$150Selling expenses$140Work in process inventory, beginning$ 70Work in process inventory, ending$ 50Finished goods inventory, beginning$120Finished goods inventory, ending$160Use these data to answer the following series of questions.66.The cost of the raw materials used in production during the year (in thousands of dollars)was: (E)

Upload your study docs or become a

Course Hero member to access this document

Upload your study docs or become a

Course Hero member to access this document

End of preview. Want to read all 108 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Summer
Professor
N/A
Tags
Finished Goods, Wit,

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture