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  1. Management accouting provides reports that are future oriented.
  2. Rules applicable to accounting information created and prepared for management use are the same as those for information reported to the general public.
  3. Managment accounting exists primarily for the benefit of people outside the company.
  4. The four stages of the management process are plan, perform, evaluate, and communicate.
  5. A business plan is a comprehensive statement of how a company will achieve its objectives, but does not include budgets or performance goals.
  6. Management accoutning
    uses any type of useful measurment unit, including physical as well a monetary measures.
  7. Which of the following is a characteristic of managment accounting?
    It is used primarily by internal users.
  8. Which of the following is not a key question to be addressed when preparing a report?
  9. In today's competitive business environment, managers
    must provide the highest value at the lowest cost to customers.
  10. JIT, TQM, ABM, and TOC all make a contribution to
    continuous improvement
  11. Equipment depreciation is an example of a direct product cost in manufacturing company.
  12. Indirect costs can be conveniently traced to a cost object.
  13. Variable costs per unit change in an inversely proportional rate to changes in volume
  14. Total fixed costs remain costant within a defined time period or range of activity.
  15. Wages of machine operators and other workers involved in actually shaping the product are classified as direct labor costs.
  16. Which of the following is the formula to compute a product's unit cost?
    (Direct Material + Direct Labor + Overhead) / Number of Units Produced
  17. Which of the following would not be included in the cost of a manufactured product?
    cost to ship products to a customer
  18. an example of a period cost is
    advertising costs
  19. which of the following is value-adding costs?
    Depreciation on factory equipment
  20. The following are costs for a selected period: direct materials put into production , $94,000; direct labor cost of converting materials into product, $200,000; indirect cost of manufacturing the product, $40,000. What is the per unit cost of manufacturing 20,000 unit in this period.
Card Set
chapter re 15 and 16
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