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Management accouting provides reports that are future oriented.
T
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Rules applicable to accounting information created and prepared for management use are the same as those for information reported to the general public.
F
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Managment accounting exists primarily for the benefit of people outside the company.
F
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The four stages of the management process are plan, perform, evaluate, and communicate.
T
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A business plan is a comprehensive statement of how a company will achieve its objectives, but does not include budgets or performance goals.
F
-
Management accoutning
uses any type of useful measurment unit, including physical as well a monetary measures.
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Which of the following is a characteristic of managment accounting?
It is used primarily by internal users.
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Which of the following is not a key question to be addressed when preparing a report?
Where?
-
In today's competitive business environment, managers
must provide the highest value at the lowest cost to customers.
-
JIT, TQM, ABM, and TOC all make a contribution to
continuous improvement
-
Equipment depreciation is an example of a direct product cost in manufacturing company.
F
-
Indirect costs can be conveniently traced to a cost object.
F
-
Variable costs per unit change in an inversely proportional rate to changes in volume
F
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Total fixed costs remain costant within a defined time period or range of activity.
T
-
Wages of machine operators and other workers involved in actually shaping the product are classified as direct labor costs.
T
-
Which of the following is the formula to compute a product's unit cost?
(Direct Material + Direct Labor + Overhead) / Number of Units Produced
-
Which of the following would not be included in the cost of a manufactured product?
cost to ship products to a customer
-
an example of a period cost is
advertising costs
-
which of the following is value-adding costs?
Depreciation on factory equipment
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The following are costs for a selected period: direct materials put into production , $94,000; direct labor cost of converting materials into product, $200,000; indirect cost of manufacturing the product, $40,000. What is the per unit cost of manufacturing 20,000 unit in this period.
$16.70
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