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WorksheetsIntroduction To Managerial Accounting & Manufacturing Cost
Total questions: 23
Worksheet time: 12mins
Managerial accounting information is generally prepared for
stockholders.
creditors.
managers.
regulatory agencies.
Which of the following is not an internal user?
Creditor
Department manager
Controller
Treasurer
Managerial accounting does not encompass
calculating product cost.
calculating earnings per share.
determining cost behavior.
profit planning.
Management accountants would not
assist in budget planning.
prepare reports primarily for external users.
determine cost behavior.
be concerned with the impact of cost and volume on profits.
What activities and responsibilities are not associated with management's functions?
Planning
Accountability
Controlling
Directing
Planning is a function that involves
hiring the right people for a particular job.
coordinating the accounting information system.
setting goals and objectives for an entity.
analyzing financial statements.
The managerial function of controlling
is performed only by the controller of a company.
is only applicable when the company sustains a loss.
is concerned mainly with operating a manufacturing segment.
includes performance evaluation by management.
Which of the following is not a management function?
Constraining
Planning
Controlling
Directing
The management function that requires managers to look ahead and establish objectives is
controlling.
directing.
planning.
constraining.
The management function that requires managers to look ahead and establish objectives is
controlling.
directing.
planning.
constraining.
Both direct materials and indirect materials are
raw materials.
manufacturing overhead.
merchandise inventory.
sold directly to customers by a manufacturing company.
The work of factory employees that can be directly associated with converting raw materials into finished goods is
manufacturing overhead.
indirect materials.
indirect labor.
direct labor.
Which one of the following would not be classified as manufacturing overhead?
Indirect labor
Direct materials
Insurance on factory building
Indirect materials
Manufacturing costs include
direct materials and direct labor only
direct materials and manufacturing overhead only.
direct labor and manufacturing overhead only.
direct materials, direct labor and manufacturing overhead.
Which one of the following is not a direct material?
A tire used for a lawn mower.
Plastic used in the covered case for a home PC.
Steel used in the manufacturing of steel-radialtires.
Lubricant for a ball-bearing joint for a large crane.
Which one of the following is not a cost element in manufacturing a product?
Manufacturing overhead
Direct materials
Office salaries
Direct labor
A manufacturing requires small amounts of glue. The glue used in the production process is classified as
period cost.
indirect material.
direct material.
miscellaneous expense.
The wages of an hourly timekeeper in the factory would be classified as
a period cost.
direct labor.
indirect labor.
compliance costs.
Which of the following is not classified as direct labor?
Bottlers of mineral water
Copy machine operators at a copy shop
Wages of supervisors
Bakers in a bakery
Which of the following are period costs?
Raw materials
Direct materials and direct labor
Direct labor and manufacturing overhead
Selling expenses
Sales commissions are classified as
overhead costs.
period costs.
product costs.
indirect labor.
Product costs consist of
direct materials and direct labor only.
direct materials, direct labor and manufacturing overhead.
selling and administrative expenses.
period costs.
Which one of the following represents a period cost?
The VP of Sales' salary and benefits.
Overhead allocated to the manufacturing operations.
Labor costs associated with quality control.
Fringe benefits associated with factory workers.
