Managerial Accounting IVY software|| 100% Accurate Answers.
A fixed cost per unit decreases as the production level increases.
Select one:
a. TRUE
b. FALSE correct answers a. TRUE
The audit function reports to the
Select one:
a. CFO
b. Board of directors
c. Both A and B
d. CEO correct answers Both A and B
Which of the following items will be found in the balance sheet of a manufacturing company?
Select one:
a. Raw materials
b. Work in process
c. Finished goods
d. All of the above correct answers d. All of the above
Managerial accounting reports are prepared for:
Select one:
a. Management
b. External parties such as creditors.
c. The Internal Revenue Service
d. None of the above correct answers Management
The professional affiliation for the management accountant is the
Select one:
a. AAA
b. AICPA
c. IMA
d. None of the above correct answers c. IMA
A fixed cost changes in total over increasing amounts of units produced.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
A variable cost per unit decreases as the production level increases.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
Which area houses the largest group of management accountants?
, Select one:
a. Sales
b. Marketing
c. Auditing
d. None of the above correct answers c. Auditing
Costs that change in total with increased production are
Select one:
a. Fixed cost
b. Variable costs
c. Neither A nor B correct answers b. Variable costs
Which of the following is not an inventoriable item?
Select one:
a. Direct materials
b. Direct labor
c. Overhead
d. None of the above. All are inventoriable items. correct answers d. None of the above. All are
inventoriable items.
Anticipated overhead is $100,000 and anticipated production is 100,000 units and there were
10,000 direct labor hours used . If overhead is applied using direct labor hours ,the overhead
application rate is
Select one:
a. $1/DLH
b. $2/DLH
c. $10/DLH
d. None of the above correct answers c. $10/DLH
Direct materials are a conversion cost.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
Process costing would be appropriate for
Select one:
a. Gallons of ice cream
b. Cans of soup
c. Both A and B
d. Neither A nor B correct answers c. Both A and B
In the schedule of cost of goods manufactured, work in process beginning inventory is
Select one:
a. Added to the cost for the period.
b. Subtracted from the cost for the period
c. Neither A nor B correct answers a. Added to the cost for the period
A fixed cost per unit decreases as the production level increases.
Select one:
a. TRUE
b. FALSE correct answers a. TRUE
The audit function reports to the
Select one:
a. CFO
b. Board of directors
c. Both A and B
d. CEO correct answers Both A and B
Which of the following items will be found in the balance sheet of a manufacturing company?
Select one:
a. Raw materials
b. Work in process
c. Finished goods
d. All of the above correct answers d. All of the above
Managerial accounting reports are prepared for:
Select one:
a. Management
b. External parties such as creditors.
c. The Internal Revenue Service
d. None of the above correct answers Management
The professional affiliation for the management accountant is the
Select one:
a. AAA
b. AICPA
c. IMA
d. None of the above correct answers c. IMA
A fixed cost changes in total over increasing amounts of units produced.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
A variable cost per unit decreases as the production level increases.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
Which area houses the largest group of management accountants?
, Select one:
a. Sales
b. Marketing
c. Auditing
d. None of the above correct answers c. Auditing
Costs that change in total with increased production are
Select one:
a. Fixed cost
b. Variable costs
c. Neither A nor B correct answers b. Variable costs
Which of the following is not an inventoriable item?
Select one:
a. Direct materials
b. Direct labor
c. Overhead
d. None of the above. All are inventoriable items. correct answers d. None of the above. All are
inventoriable items.
Anticipated overhead is $100,000 and anticipated production is 100,000 units and there were
10,000 direct labor hours used . If overhead is applied using direct labor hours ,the overhead
application rate is
Select one:
a. $1/DLH
b. $2/DLH
c. $10/DLH
d. None of the above correct answers c. $10/DLH
Direct materials are a conversion cost.
Select one:
a. TRUE
b. FALSE correct answers b. FALSE
Process costing would be appropriate for
Select one:
a. Gallons of ice cream
b. Cans of soup
c. Both A and B
d. Neither A nor B correct answers c. Both A and B
In the schedule of cost of goods manufactured, work in process beginning inventory is
Select one:
a. Added to the cost for the period.
b. Subtracted from the cost for the period
c. Neither A nor B correct answers a. Added to the cost for the period
