IU A100 EXAM 1 EXAMINATIONS 2025/2026 WITH 100%
VERIFIED ANSWERS
Managerial Accounting-correct answeraccounting used to provide information and analyses to
managers inside the organization to assist them in decision making
What three categories go into Product Costs?-correct answer1. Direct Materials-raw materials that go
directly into the product
2. Direct Labor-all wages and benefits for employees working on the product
3. Manufacturing Overhead-utilities, insurance
What are examples of Period Costs?-correct answer1. selling expenses-advertising, marketing
Three Inventory Accounts-correct answerraw materials, work in process, finished goods
Fixed Costs-correct answerstay the same in total regardless of the volume produced
Example: fixed amount of rent
Variable Costs-correct answermove exactly with level of production
Example: more production can occur to buy in bulk
The Contribution Margin-correct answerSales
- Variable Costs
___________________________
CM
- FC
___________________________
VERIFIED ANSWERS
Managerial Accounting-correct answeraccounting used to provide information and analyses to
managers inside the organization to assist them in decision making
What three categories go into Product Costs?-correct answer1. Direct Materials-raw materials that go
directly into the product
2. Direct Labor-all wages and benefits for employees working on the product
3. Manufacturing Overhead-utilities, insurance
What are examples of Period Costs?-correct answer1. selling expenses-advertising, marketing
Three Inventory Accounts-correct answerraw materials, work in process, finished goods
Fixed Costs-correct answerstay the same in total regardless of the volume produced
Example: fixed amount of rent
Variable Costs-correct answermove exactly with level of production
Example: more production can occur to buy in bulk
The Contribution Margin-correct answerSales
- Variable Costs
___________________________
CM
- FC
___________________________
