Manufacturing Company (Inter Class)

Managerial accounting:

• is governed by generally accepted accounting principles.

• places emphasis on special-purpose information.

• pertains to the entity as a whole and is highly aggregated.

• is limited to cost data.

The management of an organization performs several broad functions. They are:

• planning, directing, and selling.

• planning, manufacturing, and controlling.

• planning, directing, and controlling.

• directing, manufacturing, and controlling.

Manakah pilihan jawaban yang benar?

• A

• B

• C

• D

Which of the following costs would a computer manufacturer include in manufacturing overhead?

• The cost of the disk drives.

• The wages earned by computer assemblers.

• The cost of the memory chips.

• Depreciation on testing equipment.

Which of the following is not an element of manufacturing overhead?

• Sales manager’s salary.

• Plant manager’s salary.

• Factory repairman’s wages.

• Product inspector’s salary.

Indirect labor is a:

• nonmanufacturing cost.

• raw material cost.

• product cost

• period cost

Which of the following costs are classified as a period cost?

• Wages paid to a factory custodian.

• Wages paid to a production department supervisor.

• Wages paid to a cost accounting department supervisor.

• Wages paid to an assembly worker.

For the year, Redder Company has cost of goods manufactured of $600,000, beginning finished goods inventory of $200,000, and ending finished goods inventory of $250,000. The cost of goods sold is:

• $450,000

• $500,000

• $550,000

• $600,000

The formula to determine the cost of goods manufactured is:

• 1. Beginning raw materials inventory + Total manufacturing

     costs − Ending work in process inventory.

• 1. Beginning work in process inventory + Total manufacturing costs − Ending finished goods inventory.

• 1. Beginning finished goods inventory + Total manufacturing costs − Ending finished goods inventory.

• 1. Beginning work in process inventory + Total manufacturing costs − Ending work in process inventory.

A cost of goods manufactured schedule shows beginning and ending inventories for:

• raw materials and work in process only.

• work in process only.

• raw materials only.

• raw materials, work in process, and finished goods.