M/c final accounting Verified Exam Questions and Answers Latest
update 2026/2027
Question:
to calculate manufacturing costs, one would use the formula
Answer:
direct materials+DL+ MOH
Question:
a value chain
Answer:
the linked set of activities and resources necesary to create and deliver the product or service to the
customer
Question:
charactteristics of DM
Answer:
the raw materials are an integral part of the finished goods and whose costs can traced directly and
conveniently t othe finihsedf goods
Question:
in a manufacturing company, the cost added to the WIP inventory account represent
Answer:
manufacturing costs
Question:
ABC compnay's raw material inventory balance on september 1sr was $72,000. The raw material
inventory balance on september 30th was 45,000. Raw materials used during septem ber was 112,000.
what was the amount of raw material purchased in september
Answer:
$85,000
Question:
what are the basic types of manufacturing costs?
Answer:
direct materials, direct labor and MOH
, Question:
all of the following are regarding cost of goods manufactured except
Answer:
cost of goods manufactured appears on a company's income statement
Question:
MOH costs would include
Answer:
the salary of the production line supervisor
Question:
Managerial accountants must utilize all of the following skills except
Answer:
making major strategic decisions for the company
Question:
ABC company makes widgets. The prime costs per widget are $5.75; the conversions cost per widget
are $4.25. How much are the manufcturing costs per widget?
Answer:
cannont be determined
Question:
a production cost report contains all of the following parts except
Answer:
the overhead costs applied to each completed job.
Question:
(test 2 #2)
Answer:
loss of 33,600
Question:
all of the following are true about process costing except
Answer:
the products are created to customers specifications
update 2026/2027
Question:
to calculate manufacturing costs, one would use the formula
Answer:
direct materials+DL+ MOH
Question:
a value chain
Answer:
the linked set of activities and resources necesary to create and deliver the product or service to the
customer
Question:
charactteristics of DM
Answer:
the raw materials are an integral part of the finished goods and whose costs can traced directly and
conveniently t othe finihsedf goods
Question:
in a manufacturing company, the cost added to the WIP inventory account represent
Answer:
manufacturing costs
Question:
ABC compnay's raw material inventory balance on september 1sr was $72,000. The raw material
inventory balance on september 30th was 45,000. Raw materials used during septem ber was 112,000.
what was the amount of raw material purchased in september
Answer:
$85,000
Question:
what are the basic types of manufacturing costs?
Answer:
direct materials, direct labor and MOH
, Question:
all of the following are regarding cost of goods manufactured except
Answer:
cost of goods manufactured appears on a company's income statement
Question:
MOH costs would include
Answer:
the salary of the production line supervisor
Question:
Managerial accountants must utilize all of the following skills except
Answer:
making major strategic decisions for the company
Question:
ABC company makes widgets. The prime costs per widget are $5.75; the conversions cost per widget
are $4.25. How much are the manufcturing costs per widget?
Answer:
cannont be determined
Question:
a production cost report contains all of the following parts except
Answer:
the overhead costs applied to each completed job.
Question:
(test 2 #2)
Answer:
loss of 33,600
Question:
all of the following are true about process costing except
Answer:
the products are created to customers specifications
