Test Bank for Managerial Accounting, 18th
Edition by Ray Garrison NEWEST EDITION
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Managerial Accounting Edition 18 by Garrison juki juki juki juki juki
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CORRECT ANSWERS ARE LOCATED IN THE 2ND HALF OF THIS DOC.
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MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
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answers the question. juki juki juki
1) Which of the following statements are true?
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1. A factory supervisor's salary would be classified as an indirect cost with respect to
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a unit
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of product.
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2. A direct cost is a cost that can be easily traced to the particular cost object under
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consideration. juki
3. A cost can be direct or indirect. The classification can change if the cost object cha
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nges. juki
A) Only statement I is true.
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B) Statements I and II are true.
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C) All of the statements are true.
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D) None of the statements are true.
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2) Which of the following statements are true?
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1. Wages paid to production supervisors would be classified as manufacturing overhe
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ad. juki
2. Indirect costs, such as manufacturing overhead, are variable costs.
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3. Selling costs are indirect costs.
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4. Administrative costs are indirect costs.
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A) Only statement I is true.
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B) Statements I and III are true.
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C) All statements are true.
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D) None of the statements are true.
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3) Which of the following statements are true?
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1. The sum of all manufacturing costs except for direct materials and direct labor is c
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alled juki
manufacturing overhead. juki juki
2. The three cost elements ordinarily included in product costs are direct materials, d
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irect juki
labor, and manufacturing overhead.
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A) Only statement I is true.
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B) Only statement II is true.
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C) Both of the statements are true.
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D) Neither of the statements are true.
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juki
ACCESS Test Bank for Managerial Accounting 18th Edition Garrison
juki juki juki juki juki juki juki juki
,nursytestbank.store
Managerial Accounting Edition 18 by Garrison juki juki juki juki juki juki
Version 1 juki juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
2 juki
4) Which of the following statements are true?
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1. Depreciation is always considered a period cost for external financial reporting pur
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poses juki
in a manufacturing company.
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2. Depreciation on equipment a company uses in its selling and administrative activiti
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es juki
would be classified as a period cost.
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A) Only statement I is true.
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B) Only statement II is true.
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C) Both of the statements are true.
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D) Neither of the statements are true.
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5) Which of the following statements are true?
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1. Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
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2. Conversion cost is the same thing as manufacturing overhead.
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3. Conversion cost equals product cost less direct materials cost.
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A) Only statement I is true.
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B) Statements I and III are true.
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C) All statements are true.
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D) None of the statements are true.
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juki
6) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. In a manufacturing company, all costs are period costs.
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2. Selling and administrative expenses are period costs under generally accepted acco
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unting juki
principles. juki
3. The cost of shipping parts from a supplier is considered a period cost.
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A) Only statement I is true.
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B) Only statement II is true.
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C) Statements I and II are true.
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D) Statements I and III are true.
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juki
7) Which of the following statements are true?
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1. Advertising is not a considered a product cost even if it promotes a specific produ
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ct. juki
2. Product costs are also known as inventoriable costs.
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3. Prime cost is the sum of direct materials cost and direct labor cost.
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4. Prime cost equals manufacturing overhead cost.
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A) Only statement I is true.
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, B) Both statements I and IV are true.
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C) Statements I, II, and III are true.
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D) None of the statements are true.
juki juki juki juki juki juki juki
juki
ACCESS Test Bank for Managerial Accounting 18th Edition Garrison
juki juki juki juki juki juki juki juki
nursytestbank.store
Managerial Accounting Edition 18 by Garrison juki juki juki juki juki juki
Version 1 juki juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
3 juki
8) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. If the activity level increases, then one would expect the fixed cost per unit to incr
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
ease as juki juki
well. juki
2. A fixed cost is a cost whose cost per unit varies as the activity level rises and fall
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s. juki
3. A decrease in production will ordinarily result in a decrease in fixed production co
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sts per juki juki
unit. juki
A) Only statement II is true.
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B) Only statement III is true.
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C) Statements I and II are true.
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D) Statements I and III are true.
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juki
9) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Cost behavior is considered curvilinear whenever a straight line is a reasonable
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approximation for the relation between cost and activity. juki juki juki juki juki juki juki juki
2. As activity decreases within the relevant range, fixed costs remain constant on a p
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
er unit juki juki
basis. juki
3. In account analysis, an account is classified as either variable or fixed based on an
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ki
analyst’s prior knowledge of how the cost in the account behaves.
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A) Only statement I is true.
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B) Only statement II is true.
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C) Only statement III is true.
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D) All statements are true.
juki juki juki juki juki
juki
10) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. The variable cost per unit depends on how many units are produced.
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2. A step-
juki juki
variable cost is a cost that is obtained in large chunks and that increases or
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
decreases only in response to fairly wide changes in activity. juki juki juki juki juki juki juki juki juki juki
A) Only statement I is true.
juki juki juki juki juki juki
B) Only statement II is true.
juki juki juki juki juki juki
Edition by Ray Garrison NEWEST EDITION
j
,juki
Managerial Accounting Edition 18 by Garrison juki juki juki juki juki
juki
juki
juki
juki
1 juki
CORRECT ANSWERS ARE LOCATED IN THE 2ND HALF OF THIS DOC.
juki juki juki juki juki juki juki juki juki juki juki
MULTIPLE CHOICE - Choose the one alternative that best completes the statement or
juki juki juki juki juki juki juki juki juki juki juki juki juki
answers the question. juki juki juki
1) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. A factory supervisor's salary would be classified as an indirect cost with respect to
juki juki juki juki juki juki juki juki juki juki juki juki juki juki j
a unit
uki juki juki
of product.
juki juki
2. A direct cost is a cost that can be easily traced to the particular cost object under
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki ju
ki
consideration. juki
3. A cost can be direct or indirect. The classification can change if the cost object cha
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
nges. juki
A) Only statement I is true.
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B) Statements I and II are true.
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C) All of the statements are true.
juki juki juki juki juki juki juki
D) None of the statements are true.
juki juki juki juki juki juki juki
juki
2) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Wages paid to production supervisors would be classified as manufacturing overhe
juki juki juki juki juki juki juki juki juki juki juki
ad. juki
2. Indirect costs, such as manufacturing overhead, are variable costs.
juki juki juki juki juki juki juki juki juki juki
3. Selling costs are indirect costs.
juki juki juki juki juki juki
4. Administrative costs are indirect costs.
juki juki juki juki juki juki
A) Only statement I is true.
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B) Statements I and III are true.
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C) All statements are true.
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D) None of the statements are true.
juki juki juki juki juki juki juki
juki
3) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. The sum of all manufacturing costs except for direct materials and direct labor is c
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
alled juki
manufacturing overhead. juki juki
2. The three cost elements ordinarily included in product costs are direct materials, d
juki juki juki juki juki juki juki juki juki juki juki juki juki
irect juki
labor, and manufacturing overhead.
juki juki juki juki
A) Only statement I is true.
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B) Only statement II is true.
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C) Both of the statements are true.
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D) Neither of the statements are true.
juki juki juki juki juki juki juki
juki
ACCESS Test Bank for Managerial Accounting 18th Edition Garrison
juki juki juki juki juki juki juki juki
,nursytestbank.store
Managerial Accounting Edition 18 by Garrison juki juki juki juki juki juki
Version 1 juki juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
2 juki
4) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Depreciation is always considered a period cost for external financial reporting pur
juki juki juki juki juki juki juki juki juki juki juki juki
poses juki
in a manufacturing company.
juki juki juki juki
2. Depreciation on equipment a company uses in its selling and administrative activiti
juki juki juki juki juki juki juki juki juki juki juki juki
es juki
would be classified as a period cost.
juki juki juki juki juki juki juki
A) Only statement I is true.
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B) Only statement II is true.
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C) Both of the statements are true.
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D) Neither of the statements are true.
juki juki juki juki juki juki juki
juki
5) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Conversion cost is the sum of direct labor cost and manufacturing overhead cost.
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
2. Conversion cost is the same thing as manufacturing overhead.
juki juki juki juki juki juki juki juki juki juki
3. Conversion cost equals product cost less direct materials cost.
juki juki juki juki juki juki juki juki juki juki
A) Only statement I is true.
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B) Statements I and III are true.
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C) All statements are true.
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D) None of the statements are true.
juki juki juki juki juki juki juki
juki
6) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. In a manufacturing company, all costs are period costs.
juki juki juki juki juki juki juki juki juki juki
2. Selling and administrative expenses are period costs under generally accepted acco
juki juki juki juki juki juki juki juki juki juki juki
unting juki
principles. juki
3. The cost of shipping parts from a supplier is considered a period cost.
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
A) Only statement I is true.
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B) Only statement II is true.
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C) Statements I and II are true.
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D) Statements I and III are true.
juki juki juki juki juki juki juki
juki
7) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Advertising is not a considered a product cost even if it promotes a specific produ
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
ct. juki
2. Product costs are also known as inventoriable costs.
juki juki juki juki juki juki juki juki juki
3. Prime cost is the sum of direct materials cost and direct labor cost.
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
4. Prime cost equals manufacturing overhead cost.
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A) Only statement I is true.
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, B) Both statements I and IV are true.
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C) Statements I, II, and III are true.
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D) None of the statements are true.
juki juki juki juki juki juki juki
juki
ACCESS Test Bank for Managerial Accounting 18th Edition Garrison
juki juki juki juki juki juki juki juki
nursytestbank.store
Managerial Accounting Edition 18 by Garrison juki juki juki juki juki juki
Version 1 juki juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
juki
3 juki
8) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. If the activity level increases, then one would expect the fixed cost per unit to incr
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
ease as juki juki
well. juki
2. A fixed cost is a cost whose cost per unit varies as the activity level rises and fall
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
s. juki
3. A decrease in production will ordinarily result in a decrease in fixed production co
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
sts per juki juki
unit. juki
A) Only statement II is true.
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B) Only statement III is true.
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C) Statements I and II are true.
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D) Statements I and III are true.
juki juki juki juki juki juki juki
juki
9) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. Cost behavior is considered curvilinear whenever a straight line is a reasonable
juki juki juki juki juki juki juki juki juki juki juki juki juki
approximation for the relation between cost and activity. juki juki juki juki juki juki juki juki
2. As activity decreases within the relevant range, fixed costs remain constant on a p
juki juki juki juki juki juki juki juki juki juki juki juki juki juki
er unit juki juki
basis. juki
3. In account analysis, an account is classified as either variable or fixed based on an
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki ju
ki
analyst’s prior knowledge of how the cost in the account behaves.
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A) Only statement I is true.
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B) Only statement II is true.
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C) Only statement III is true.
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D) All statements are true.
juki juki juki juki juki
juki
10) Which of the following statements are true?
juki juki juki juki juki juki juki juki
1. The variable cost per unit depends on how many units are produced.
juki juki juki juki juki juki juki juki juki juki juki juki juki
2. A step-
juki juki
variable cost is a cost that is obtained in large chunks and that increases or
juki juki juki juki juki juki juki juki juki juki juki juki juki juki juki
decreases only in response to fairly wide changes in activity. juki juki juki juki juki juki juki juki juki juki
A) Only statement I is true.
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B) Only statement II is true.
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