ACCTG Chapter 19
1. Managerial accountants have a single role within an organization:
collecting and reporting costs to management.
2. Financial accounting reports are general-purpose and intended for
external users.
3.Managerial accounting reports are special-purpose and issued as
frequently as needed.
4. Managers' activities and responsibilities can be classified into three
broad functions: cost accounting, budgeting, and internal control.
5. Managerial accounting reports must now comply with generally
accepted accounting principles (GAAP).
1. F
2. T
3. T
4. F (planning, directing, controlling)
5. F (for internal use)
Wood cores, fiberglass, and resin ($30 per board)
Direct materials
Labor to trim and shape boards ($40 per board)
Direct labor
Factory equipment depreciation ($25,000)
Manufacturing overhead
Property taxes on factory building ($6,000 per year)
Manufacturing overhead
Advertising costs ($60,000 per year)
period costs
1. Managerial accountants have a single role within an organization:
collecting and reporting costs to management.
2. Financial accounting reports are general-purpose and intended for
external users.
3.Managerial accounting reports are special-purpose and issued as
frequently as needed.
4. Managers' activities and responsibilities can be classified into three
broad functions: cost accounting, budgeting, and internal control.
5. Managerial accounting reports must now comply with generally
accepted accounting principles (GAAP).
1. F
2. T
3. T
4. F (planning, directing, controlling)
5. F (for internal use)
Wood cores, fiberglass, and resin ($30 per board)
Direct materials
Labor to trim and shape boards ($40 per board)
Direct labor
Factory equipment depreciation ($25,000)
Manufacturing overhead
Property taxes on factory building ($6,000 per year)
Manufacturing overhead
Advertising costs ($60,000 per year)
period costs
