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Can someone assist within 1 hour with the questions below? 1. ...

Can someone assist within 1 hour with the questions below?


1. Which is another term for horizontal analysis? (Points : 2)
       Linear analysis
       Vertical analysis
       Trend analysis
       Common size analysis

Question 2.2. A company's accounting records reflect the following inventories:
            Dec. 31, 2017           Dec. 31, 2016
Raw materials inventory                              $310,000                     $260,000
Work in process inventory                             300,000                       160,000
Finished goods inventory                               190,000                       150,000
 
During 2017, $800,000 of raw materials were purchased, direct labor costs were $670,000, and manufacturing overhead incurred was $640,000.
What are the total raw materials available for use during 2017 for the company? (Points : 2)
       $660,000
       $750,000
       $1,060,000
       $1,110,000

Question 3.3. Which of the following is incompatible with ratio analysis? (Points : 2)
       Rate
       Percentage
       Negative number
       Simple proportion

Question 4.4. Are property taxes on a manufacturing plant an element for each of the following?

Product Cost    Period Cost (Points : 2)
       Yes            No     
       Yes            Yes
       No              Yes
       No               No

Question 5.5. The KAP Company has beginning and ending raw materials inventories of $64,000 and $80,000, respectively. If direct materials used were $310,000, what was the cost of raw materials purchased? (Points : 2)
       $230,000
       $294,000
       $310,000
       $326,000

Question 6.6. Saira, Inc. has the following income statement (in millions):
SAIRA, INC.
Income Statement
For the Year Ended December 31, 2017 
Net Sales                        $300
Cost of Goods Sold          180
Gross Profit                       120
Operating Expenses           45
Net Income                        $75

Using vertical analysis, what percentage is assigned to Cost of Goods Sold? (Points : 2)
       40%
       60%
       80%
       90%

Question 7.7. The XYZ Company has beginning and ending work in process inventories of $130,000 and $145,000 respectively. If total manufacturing costs are $680,000, what is the total cost of goods manufactured? (Points : 2)
       $810,000
       $825,000
       $665,000
       $695,000

Question 8.8. What is “balanced” in the balanced scorecard approach? (Points : 2)
       The number of products produced before and after faulty materials or products are eliminated
       The emphasis on financial and non-financial performance measurements
       The amount of costs allocated to products in process
       The number of defects found on each product post-production

Question 9.9. The XYZ Company has beginning work in process inventory of $138,000 and total manufacturing costs of $477,000. If cost of goods manufactured is $480,000, what is the cost of the ending work in process inventory? (Points : 2)
       $120,000
       $141,000
       $150,000
       $135,000

Question 10.10. Which of the following considerations are stockholders most interested in evaluating? (Points : 2)
       Liquidity and solvency
       Profitability and solvency
       Liquidity and profitability
       Marketability and solvency

Question 11.11. Which of the following is true concerning managerial accounting information? (Points : 2)
       It pertains to the entity as a whole and is highly aggregated
       It pertains to subunits of the entity and may be very detailed
       It is prepared only once a year
       It is constrained by the requirements of generally accepted accounting principles

Question 12.12. For a manufacturing company, which of the following is an example of a period cost rather than a product cost? (Points : 2)
       Depreciation on factory equipment
       Wages of salespersons
       Wages of machine operators
       Insurance on factory equipment

Question 13.13. Given the following data for KAP Manufacturing Company, what are the cost of goods manufactured?
Direct materials used     $120,000           Beginning work in process         $20,000
Direct labor                       200,000          Ending work in process                10,000
Manufacturing overhead  180,000           Beginning finished goods             25,000
Operating expenses         175,000          Ending finished goods                   15,000 (Points : 2)
       $490,000
       $500,000
       $510,000
       $520,000

Question 14.14. What term describes all business processes associated with providing a product or service? (Points : 2)
       The manufacturing chain
       The product chain
       The supply chain
       The value chain

Question 15.15. What are short-term creditors usually most interested in evaluating? (Points : 2)
       Solvency
       Liquidity
       Marketability
       Profitability

Question 16.16. The KAP Manufacturing Company has beginning work in process inventory of $214,000 and total manufacturing costs of $924,000. If cost of goods manufactured is $856,000, what is the cost of the ending work in process inventory? (Points : 2)
       $$146,000
       282,000
       $642,000
       $ 710,000

Question 17.17. A clothing store had a balance in the Accounts Receivable account of $437,500 at the beginning of the year and a balance of $500,000 at the end of the year. Net credit sales during the year amounted to $3,000,000. What was the average collection period of the receivables in terms of days? (Points : 2)
       53.2
       57
       60.1
       365

Question 18.18. XYZ Company reported total manufacturing costs of $320,000, manufacturing overhead totaling $52,000, and direct materials totaling $64,000.  How much is direct labor cost? (Points : 2)
       $285,000
       $268,000
       $256,000
       $204,000

Question 19.19. Which of the following considerations are long-term creditors usually most interested in evaluating? (Points : 2)
       Liquidity and solvency
       Solvency and marketability
       Liquidity and profitability
       Profitability and solvency

Question 20.20. Which is true of evaluation of a series of data over time in horizontal analysis? (Points : 2)
       It has been arranged from the highest number to the lowest number.
       It has been arranged from the lowest number to the highest number.
       It is used to determine which items are in error.
       It is used to determine the amount and/or percentage increase or decrease that has taken place.

Question 21.21. How have many companies significantly lowered inventory levels and costs? (Points : 2)
       They use activity-based costing.
       They utilize a balanced scorecard system.
       They have a just-in-time method.
       They focus on total quality management.

Question 22.22. What is another term for managerial accounting? (Points : 2)
       Management accounting
       Controlling
       Analytical accounting
       Internal reporting

Question 23.23. Which one of the following factors would be excluded from consideration in analyzing financial statements? (Points : 2)
       Liquidity
       Profitability
       Marketability
       Solvency

Question 24.24. Which type of analysis tool would be excluded as a tool in financial statement analysis? (Points : 2)
       Horizontal analysis
       Circular analysis
       Vertical analysis
       Ratio analysis

Question 25.25. For whom is managerial accounting information generally prepared for? (Points : 2)

       Stockholders
       Creditor agencies
       Managers
       Regulatory agencies

Answer & Explanation
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