ACCT 252 FINAL COMPREHENSIVE EXAM QUESTIONS
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED A+ PASS
Wages paid to production supervisors would be considered direct labor.
True or False? Ans✓✓✓False
Walton Manufacturing Company gathered the following data for the
month.
COGS- $35,000
Sales- $89,000
Selling Expense- $16,000
Admin Expense- $21,000
How much net operating income will be reported for the period?
A)$54,000
B)$17,000
C)$52,000
D)
Cannot be determined. Ans✓✓✓B)$17,000
,Managerial accounting:
A)has its primary emphasis on the future.
B)is required by regulatory bodies such as the SEC.
C)focuses on the organization as a whole, rather than on the
organization's segments.
D)Responses a, b, and c are all correct Ans✓✓✓A)has its primary
emphasis on the future.
Direct material costs are generally fixed costs.
True or False? Ans✓✓✓False
Last month a manufacturing company had the following operating
results:
Begin finished goods inventory- $90,000
End finished goods inventory- $63,000
Sales- $412,000
Gross Margin- $62,000
, What was the cost of goods manufactured for the month?
A)$350,000
B)$385,000
C)$377,000
D)$323,000 Ans✓✓✓D)$323,000
Advertising is a product cost as long as it promotes specific products.
True or False? Ans✓✓✓False
A cost driver is:
A)the largest single category of cost in a company.
B)a fixed cost that cannot be avoided.
C)a factor that causes variations in a cost.
D)an indirect cost that is essential to the business.
E)Source: CMA, adapted Ans✓✓✓C)a factor that causes variations in a
cost.
WITH DETAILED VERIFIED AND 100% ACCURATE
ANSWERS BRAND NEW EXAM ALREADY GRADED A+ PASS
Wages paid to production supervisors would be considered direct labor.
True or False? Ans✓✓✓False
Walton Manufacturing Company gathered the following data for the
month.
COGS- $35,000
Sales- $89,000
Selling Expense- $16,000
Admin Expense- $21,000
How much net operating income will be reported for the period?
A)$54,000
B)$17,000
C)$52,000
D)
Cannot be determined. Ans✓✓✓B)$17,000
,Managerial accounting:
A)has its primary emphasis on the future.
B)is required by regulatory bodies such as the SEC.
C)focuses on the organization as a whole, rather than on the
organization's segments.
D)Responses a, b, and c are all correct Ans✓✓✓A)has its primary
emphasis on the future.
Direct material costs are generally fixed costs.
True or False? Ans✓✓✓False
Last month a manufacturing company had the following operating
results:
Begin finished goods inventory- $90,000
End finished goods inventory- $63,000
Sales- $412,000
Gross Margin- $62,000
, What was the cost of goods manufactured for the month?
A)$350,000
B)$385,000
C)$377,000
D)$323,000 Ans✓✓✓D)$323,000
Advertising is a product cost as long as it promotes specific products.
True or False? Ans✓✓✓False
A cost driver is:
A)the largest single category of cost in a company.
B)a fixed cost that cannot be avoided.
C)a factor that causes variations in a cost.
D)an indirect cost that is essential to the business.
E)Source: CMA, adapted Ans✓✓✓C)a factor that causes variations in a
cost.
