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Exam 16: Introduction to Managerial Accounting

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Question 41

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ERP systems can integrate all of a company's functions,departments,and data into a single system.

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Question 42

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Which of the following is a part of manufacturing overhead?

A) cost of raw materials
B) wages of assembly line workers
C) factory insurance
D) depreciation on office furniture

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Question 43

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Identify each cost as a period cost or a product cost. -Production supervisor's salary

All costs incurred in the manufacture of completed products are product costs.

One of the primary activities of Perez,Inc.is to purchase hats from Toppers,Inc.in Texas and sell them to its customers in New York for a profit.It is likely that Toppers is a ________.

Artisan Inspiration,Inc.is a merchandiser of stone ornaments.The company sold 8000 units during the year.The company has provided the following information: What is the operating income for the year? (Round your answer to the nearest whole dollar. )

The IMA standards of ethical practice require managerial accountants to maintain their professional competence.

Which of the following is true of service companies?

Which of the following would be considered a direct labor cost for a manufacturing company?

The three categories of period costs are direct materials,direct labor,and manufacturing overhead.

The chief financial officer,controller,and treasurer are all examples of staff positions.

How does a service company calculate unit cost per service? Why do managers need to know the unit cost per service?

Which of the following will be included in manufacturing overhead costs?

Mars Supplies Company provided the following information for the year: What was the amount of the manufacturing overhead costs?

Match each term with its correct definition. -An accounting field that is required to follow Generally Accepted Accounting Principles.

The following information relates to Myer,Inc.: How much were Myer's product costs?

Define period cost.Give three examples of period costs of a merchandising company.

The balance sheet of a ________ company will include Work-in-Process Inventory as a line item.

Fire Cat,Inc.selected cost data for the year are shown below: What is the total of manufacturing costs incurred by Fire Cat,Inc.during the year?

Managerial accounting information for a company is primarily used by ________.