Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

1. Controller's staff frequently comprises of many management accountants. All of given would most likely be on controller's staff except ________. 

i) General accountants

ii) Budgets and budget analysts

iii) Investments and shareholder relations managers

iv) Cost accountants

2) Which of the given is false in regards to direct materials for auto manufacturer?

i) Steel would probably be a direct material

ii) Upholstery fabric would probably be a direct material

iii) Oil to lubricate factory machines would not be direct material

iv) Small plastic clips to hold on door panels, as they become part of auto, should be accounted for as direct materials

3. Which of the given is the ex of direct labour cost for airplane manufacturer? 

i) Cost of oil lubricants for factory machinery

ii) Cost of wages of assembly worker

iii) Salary of plant supervisor

iv) Cost of jet engines

4. Which of the given is not prime cost? 

i) Supervisor's wages

ii) Direct labor wages

iii) Machine operator wages

iv) Assembly line wages

5. What is the reason of Statement of Cost of Goods Manufactured?

i) To find out the ending materials inventory

ii) To find out the ending work in process inventory

iii) To find out the amounts transferred to finished goods

iv) All of the answers are true

6. All of following are ways which managers use managerial information except ________.

i) To estimate company's stock performance

ii) To estimate performance of a company's operations

iii) To support long-term planning decisions

iv) To find out the cost of manufacturing a product

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M916298

Have any Question? 


Related Questions in Accounting Basics

What was the most eye opening information you learned about

What was the most "eye opening" information you learned about droughts? Why did you find it so interesting? Using the supply-and-demand model, explain what would happen to the supply curve during a drought. Also explain ...

Assume a local subway reported the following results for

Assume a local Subway reported the following results for April and May August September Unit Sales      2,000             2,500 Cost of Food Sold  $   1,000  $         1,250 Wages and Salaries      1,525             1,67 ...

District water company issued 10-year bonds with a face

District Water Company issued 10-year bonds with a face value of $100,000 and a stated interest rate of 8.0%. The bonds are dated April 1, 2016, and call for semiannual interest payments on each April 1 and October 1. Du ...

Ics manufacturing company produces plastic parts for the

ICS Manufacturing Company produces plastic parts for the automotive industry. Here is their Income Statement for 2015 - ICS Manufacturing Company Income Statement for 2015 Sales Revenue $35,500,000 Cost of Goods Sold 12, ...

Question 1dollys best issued 200 shares of its 10 common

Question 1 Dolly's Best issued 200 shares of its $10 common stock in exchange for used packaging equipment with a fair market value of $2,400. The entry to record the acquisition of the equipment would include a A. debit ...

Assignmentfinal take home examination on basic erp

Assignment Final Take Home Examination on Basic ERP Configuration Concepts Provide brief but clear and specific answers to the following questions. Consult any sources necessary, including SAP's Help features. 1. What ar ...

Assignment entries65 mackay industries limited mil is a

Assignment: Entries 65 MacKay Industries Limited (MIL) is a Canadian company that manufactures leather fur- niture. Sales in 20X3 were $265 million, with strong exports to the United States. MIL is the leading Canadian m ...

Part one - sage transactionsyou will be given a fictitious

PART ONE - SAGE TRANSACTIONS You will be given a fictitious company which you will need to set up, record two months of transactions and produce financial statements for. You will need to use your professional judgement ...

1 weighted average cost method with perpetual inventory

1. Weighted average cost method with perpetual inventory (Page 349 of Accounting 25e Warren-Reeve-Duchac) The beginning inventory for RTE Office Supplies and data on purchases and sales for a three-month period are shown ...

The purpose of this comprehensive project is to use a

The purpose of this comprehensive project is to use a variety of resources to research a corporation. You will also prepare a written paper describing your corporation and summarizing the findings you have developed in t ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen