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Given the following data: Given the following data: What is cost of goods sold? A) $152,000 B) $142,000 C) $10,000 D) $128,000 What is cost of goods sold?


A) $152,000
B) $142,000
C) $10,000
D) $128,000

E) A) and B)
F) All of the above

Correct Answer

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A report analyzing the dollar savings of purchasing new equipment to speed up the production process is a managerial accounting report.

A) True
B) False

Correct Answer

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Match the items below to the appropriate term (a-d). -Factory supplies used A)Direct materials B)Selling and administrative expense C)Factory overhead D)Direct labor

Correct Answer

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Which of the following is the primary criterion for the preparation of managerial accounting reports?


A) relevance of the reports
B) manager needs
C) timing of the reports
D) cost of the reports

E) B) and C)
F) None of the above

Correct Answer

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