age 1 of 36
MANAGERIAL ACCOUNTING FINAL EXAM PREP
2025/2026 ACCURATE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED PASS
<LATEST VERSION>
Which of the following is true of Finished Goods Inventory?
.......Answer.........Finished Goods Inventory is an account used by
a manufacturer and includes completed goods that have not yet
been sold.
Which of the following statements is true of managerial
accounting? .......Answer.........Managerial accounting information
is used to help managers plan and control their operations.
Which of the following is an example of direct labor cost in a
factory? .......Answer.........Wages of assembly line personnel
,age 2 of 36
Managerial accounting information for a company is primarily
used by .......Answer.........Its employees to plan and control
operations
Product costs are expensed .......Answer.........When the products
are consumed or sold
Period costs are the .......Answer.........Costs that are incurred and
expensed during the same accounting period
Which of the following statements is true if the variable cost per
unit increases while the sale price per unit and total fixed costs
remain constant? .......Answer.........The breakeven point increases
Haywood Company has fixed costs of $30,000 per month.
Highest production volume during the year was in January
where 110,000 units were produced, 90,000 unites were sold,
and total costs of $650,000 were incurred. In June, the company
,age 3 of 36
produced only 60,000 unites. What was the total cost incurred
in June? .......Answer.........$368,400
Keys Spas, Inc. reports the following information for August:
Sales Revenue: $740,000
Variable Costs: $230,000
Fixed Costs: $100,000
Calculate the contribution margin for August.
.......Answer.........$510,000
Grimes Food produces a gourmet salsa which sells for $28 per
unit. Variable costs are $8 per unit, and fixed costs are $7,000
per month. If Grimes expects to sell 1,500 unites, compute the
margin of safety in dollars. .......Answer.........FC/CM =
7,000/(28-8)
, age 4 of 36
$32,200
Lambert Company Sells Two Products - X and Y. Lambert
predicts that it will sell 2,500 units of X and 2,000 unites of Y
during the next period. The unit contribution margins are $4.00
and $5.10, respectively. What is the weighted-average unit
contribution margin? .......Answer.........$4.49 per product
Ivrsen ompany has provided the following information:
Price per unit: $42
Variable cost per unit: 15
Fixed costs per month: $16,000
What are the required sales in unites for Iversen to break even?
.......Answer.........FC/CM = 16,000/(42-15)
MANAGERIAL ACCOUNTING FINAL EXAM PREP
2025/2026 ACCURATE QUESTIONS WITH CORRECT
DETAILED ANSWERS || 100% GUARANTEED PASS
<LATEST VERSION>
Which of the following is true of Finished Goods Inventory?
.......Answer.........Finished Goods Inventory is an account used by
a manufacturer and includes completed goods that have not yet
been sold.
Which of the following statements is true of managerial
accounting? .......Answer.........Managerial accounting information
is used to help managers plan and control their operations.
Which of the following is an example of direct labor cost in a
factory? .......Answer.........Wages of assembly line personnel
,age 2 of 36
Managerial accounting information for a company is primarily
used by .......Answer.........Its employees to plan and control
operations
Product costs are expensed .......Answer.........When the products
are consumed or sold
Period costs are the .......Answer.........Costs that are incurred and
expensed during the same accounting period
Which of the following statements is true if the variable cost per
unit increases while the sale price per unit and total fixed costs
remain constant? .......Answer.........The breakeven point increases
Haywood Company has fixed costs of $30,000 per month.
Highest production volume during the year was in January
where 110,000 units were produced, 90,000 unites were sold,
and total costs of $650,000 were incurred. In June, the company
,age 3 of 36
produced only 60,000 unites. What was the total cost incurred
in June? .......Answer.........$368,400
Keys Spas, Inc. reports the following information for August:
Sales Revenue: $740,000
Variable Costs: $230,000
Fixed Costs: $100,000
Calculate the contribution margin for August.
.......Answer.........$510,000
Grimes Food produces a gourmet salsa which sells for $28 per
unit. Variable costs are $8 per unit, and fixed costs are $7,000
per month. If Grimes expects to sell 1,500 unites, compute the
margin of safety in dollars. .......Answer.........FC/CM =
7,000/(28-8)
, age 4 of 36
$32,200
Lambert Company Sells Two Products - X and Y. Lambert
predicts that it will sell 2,500 units of X and 2,000 unites of Y
during the next period. The unit contribution margins are $4.00
and $5.10, respectively. What is the weighted-average unit
contribution margin? .......Answer.........$4.49 per product
Ivrsen ompany has provided the following information:
Price per unit: $42
Variable cost per unit: 15
Fixed costs per month: $16,000
What are the required sales in unites for Iversen to break even?
.......Answer.........FC/CM = 16,000/(42-15)
