FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 18: Introduction to Managerial Accounting

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 61

Multiple Choice

Review LaterAdd Note

Review Later

Product costs

A) appear only on the balance sheet
B) appear only on the income statement
C) are expensed as costs are incurred for direct labor, direct material, and factory overhead
D) appear on both the income statement and balance sheet

E) All of the above
F) C) and D)

Correct Answer

verified

Show Answer

Question 62

Multiple Choice

Review LaterAdd Note

Review Later

The following are some of the costs incurred by a cake factory. Identify them as either: -Baker's wages

A) Product costs
B) Period costs

C) A) and B)
D) undefined

Correct Answer

verified

Show Answer

Question 63

Multiple Choice

Review LaterAdd Note

Which of the following would least likely be considered a managerial accounting report?

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Baker's wages

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Depreciation expense-office

Which of the following accounts will be found on the income statement?

An example of a period cost is

For each of the following costs, classify them as either: -Labor for machine maintenance

Which of the following is most associated with managerial accounting?

A company used $35,000 of direct materials, incurred $73,000 in direct labor cost, and had $114,000 in factory overhead costs during the period. If beginning and ending work in process inventories were $28,000 and $32,000, respectively, the cost of goods manufactured was

Period costs include direct materials and direct labor.

For each of the following, indicate whether the cost would typically be considered a product or period cost for the cost object given. -Direct materials used

For each of the following, indicate whether the cost would typically be considered a product or period cost for the cost object given. -Factory utilities

For each of the following costs, classify them as either: -Utilities on factory building

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Salesperson commissions

Bartel Corporation produces bar stools for restaurants. For each of the following, indicate whether the cost would typically be considered a direct or indirect cost for the cost object given. -The factory supervisor's salary for the bar stool factory

The following are some of the costs incurred by Cupcake Company. Identify them as either: -Cupcake mix

The phases of the management process are listed below. Match each phase to the appropriate description. -Managers must continually choose among alternative actions

Use the information below for Jensen Company to answer the questions that follow. ​ $\begin{array} { l r } \text { Direct materials used } & \$ 345,000 \\\text { Direct labor incurred } & 250,000 \\\text { Factory overhead incurred } & 400,000 \\\text { Operating expenses } & 175,000\end{array}$ -Jensen Company's product costs are

For each of the following costs, classify them as either: -Utilities on administrative facilities