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1. Managerial accounting applies to each of the following types of businesses except service firms merchandising firms manufacturing firms managerial accounting applies to all types of firms 2. Managerial accounting does not encompass calculating product cost calculating earnings per share determining cost behavior profit planning 3. What activities and responsibilities are not associated with management's functions? Planning Accountability Controlling Directing 4. A materials requisition slip showed that direct materials requested were $66,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is Work In Process Inventory 66,000 Raw Materials Inventory 66,000 Direct Materials 66,000Indirect Materials 9,000Work in Process Inventory 75,000 Manufacturing Overhead 75,000Raw Materials Inventory 75,000 Work In Process Inventory 66,000Manufacturing Overhead 9,000Raw Materials Inventory 75,000 5. Which one of the following is a source document that impacts the job cost sheet? Raw materials receiving slips Materials purchase orders Labor time tickets Finished goods shipping documents 6. Equivalent units are calculated by multiplying the percentage of work done by the equivalent units of output dividing physical units by the percentage of work donemultiplying the percentage of work done by the physical units dividing equivalent units by the percentage of work done 7. In a process cost system, product costs are summarized: on job cost sheets on production cost reportsafter each unit is produced when the products are sold 8. In traditional costing systems, overhead is generally applied based on direct labor machine hours direct material dollars units of production 9. Fixed costs normally will not include property taxesdirect laborsupervisory salariesdepreciation on buildings and equipment 10. Companies recognize fixed manufacturing overhead costs as period costs (expenses) when incurred when using full costingabsorption costing product costing variable costing
A company has $100,000 in assets, 1000 shares outstanding and no debt. If EBIT is $20,000, the interest rate on debt is 10% and its tax rate is 40%, what is its EPS? If the firm in question 35 decided to refinance with 50% debt and 50% equity, wha..
dinkle manufacturing company manufactures a variety of tools and industrial equipment. the company operates through
funderland park is considering purchasing a new ride for 80000. the ride would require annual operating costs of 25000
the net income reported on the income statement for the current year was 296200. depreciation recorded on equipment and
Payroll taxes withheld to provide Social Security and Medicare benefits are called
The authority's governing board levies property taxesat rates that will be just suf?cient to balance theauthority's budget. What amount of tax revenue willit be required to collect?
West Valley Corporation issues $800,000 of 20 year, 9 percent bonds at 95. Interest is paid semiannually, and the effective interest method is used for amortization.
Assume that you wish to purchase a 25-year bond that has a maturity value of $1,000 and makes semiannual interest payments of $45.
comprehensive problem 2 for heintz and parry 20th college accountingassetsrevenues101cash401registration
rossi company has the following projected account balances for june 20x9 accounts payable 60000 sales 8000 00 accounts
thomas consultants provided bran construction with assistance in implementing various cost-savings initiatives. thomas
on july 1 2010 rentoul inc made two sales1. it sold land haveing a fair market value of 900000 in exchange for a 4-year
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