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Robin Company has the following balances for the current month: Robin Company has the following balances for the current month: What are Robin's prime costs? A) $60,800 B) $56,000 C) $75,200 D) $65,600 What are Robin's prime costs?


A) $60,800
B) $56,000
C) $75,200
D) $65,600

E) B) and C)
F) A) and D)

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An actual outlay of cash is a(n) :


A) out-of-pocket cost.
B) opportunity cost.
C) direct cost.
D) cost object.

E) C) and D)
F) B) and C)

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An opportunity cost is the cost of not doing something.

A) True
B) False

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Which of the following is an example of the variety of big data?


A) Data collected from YouTube videos
B) The collection of petabytes of data per hour
C) Data that is created in real time
D) Delivering data as quickly as possible

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

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Melinda's Custom Homes,a construction company that builds custom-designed houses,incurred costs for the following items. Melinda's Custom Homes,a construction company that builds custom-designed houses,incurred costs for the following items. Calculate each of the following,where the cost object is the houses built by the company: a.Total variable costs b.Total fixed costs c.Total direct costs d.Total indirect costs Calculate each of the following,where the cost object is the houses built by the company: a.Total variable costs b.Total fixed costs c.Total direct costs d.Total indirect costs

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Total variable costs: $478,900 = $105,00...

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What determines the difference between a direct and an indirect cost?


A) Whether it changes when activity levels change.
B) Whether it is relevant to a particular decision.
C) Whether it can be traced to a specific cost object.
D) Whether it is related to manufacturing or nonmanufacturing activities.

E) B) and C)
F) A) and C)

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Which of the following functions of management involves providing feedback for future plans?


A) Planning
B) Implementing
C) Reviewing
D) Control

E) A) and B)
F) C) and D)

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Prime costs are the same as:


A) manufacturing costs minus non-manufacturing costs.
B) manufacturing costs minus manufacturing overhead.
C) manufacturing costs minus fixed costs.
D) manufacturing costs minus direct materials.

E) C) and D)
F) A) and B)

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Alameda Manufacturing manufactures a variety of wooden picture frames using recycled wood from old barns.Alameda Manufacturing has reported the following costs for the previous year.Assume no production inventories. Alameda Manufacturing manufactures a variety of wooden picture frames using recycled wood from old barns.Alameda Manufacturing has reported the following costs for the previous year.Assume no production inventories. Compute the following: a.Direct material costs b.Direct labor cost c.Manufacturing overhead d.Total manufacturing cost e.Prime cost f.Conversion cost g.Total period cost Compute the following: a.Direct material costs b.Direct labor cost c.Manufacturing overhead d.Total manufacturing cost e.Prime cost f.Conversion cost g.Total period cost

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a.Direct material costs: $208,000 = $86,...

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The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting environment: ethics,fraud,and managers.

A) True
B) False

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Fixed costs stay the same,on a per-unit basis,as activity level changes.

A) True
B) False

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Pretend you are the president of the Managerial Accounting Club and you are responsible for executing the club's most important event: A recruiting event for members and local firms.How might you use the Plan-Implement-Control cycle?


A) To plan,I would prepare a preliminary list of goals and plans and then hold a kick-off meeting with the club's membership to present and revise the plan.
B) To control,I would identify two additional individuals within the club to help lead the event.
C) To control,I would create a timeline and schedule of key tasks leading up to the event and assign responsibility for each task to key members of the club.
D) To implement,I would hold regular check-in meetings to monitor progress.

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

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Which of the following is not one of the factors affecting the accounting reporting environment focused on by the Sarbanes-Oxley Act?


A) Industry
B) Opportunity
C) Character
D) Incentives

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

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Managerial accounting information includes all of the following except:


A) budgets.
B) performance evaluations,for example budget-to-actual reports.
C) cost reports.
D) financial statements prepared in accordance with generally accepted accounting principles.

E) B) and C)
F) B) and D)

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Fixed costs are:


A) costs that are not worth the effort to trace to a specific cost object.
B) costs that change,in total,in direct proportion to changes in activity levels.
C) always irrelevant.
D) costs that remain constant,in total,no matter the activity level.

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

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Willow Manufacturing manufactures custom tabletops.For each cost listed below,place an "X" in all of the appropriate categories. Willow Manufacturing manufactures custom tabletops.For each cost listed below,place an X in all of the appropriate categories.

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blured image Direct materials are the traceable mate...

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Imagine purchasing a cup of coffee.Which of the following statements correctly classifies the direct,indirect,variable,and fixed costs associated with that purchase,assuming the cost object is the cup of coffee?


A) The cost of the cup and the lid is an indirect cost because it can be readily traced to the cost object.
B) The shop supervisor's salary is a direct cost because it cannot be readily and feasibly traced to the cost object.
C) The volume of coffee beans purchased is a variable cost because it changes along with the changing volume of cups of coffee sold.
D) The shop's monthly water bill is a fixed cost because it changes along with the changing volume of sales.

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

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A sustainable business is one with the ability to meet the needs of today without sacrificing the ability of future generations to meet their own needs.

A) True
B) False

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Which of the following is not a characteristic of managerial accounting?


A) Information is used by internal parties.
B) Information is subjective,relevant,and future-oriented.
C) Reports are prepared as needed.
D) Reports are prepared according to GAAP.

E) B) and C)
F) A) and C)

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Which of the following is an example of a variable cost for a manufacturing firm?


A) The cost of rent on the factory.
B) The cost of factory supervision.
C) The cost of raw materials.
D) The cost of depreciation on equipment.

E) A) and D)
F) B) and C)

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Showing 21 - 40 of 142

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