This quiz works best with JavaScript enabled. Home > Accounting > Managerial Accounting > Managerial Accounting – Quiz 18 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Managerial Accounting Quiz 18 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. The form used in job-order costing to record the amount of labor hours contributed to a production of a particular job A) Job-time record. B) Employee-time record. C) Process-time record. D) None of above. Show Answer Correct Answer: A) Job-time record. 2. Total costs is calculated as A) Fixed costs-variable costs. B) Fixed costs + Variable costs. Show Answer Correct Answer: B) Fixed costs + Variable costs. 3. It is known that BBB Rp. 500BTKL Rp. 300BOP Rp. 200B. Marketing Rp. 100B. ADM Rp. 50What are the production costs? A) Rp. 1.000. B) Rp. 1.150. C) Rp. 800. D) Rp. 150. Show Answer Correct Answer: A) Rp. 1.000. 4. A sacrifice made to obtain some benefit is a(n) A) Profit. B) Price. C) Cost. D) Expense. Show Answer Correct Answer: C) Cost. 5. The difference between the cost of products sold and the net sales is what? A) Income. B) Gross Profit. C) Take home pay. D) Gross Profit Margin. Show Answer Correct Answer: B) Gross Profit. 6. Management Accounting is useful for helping management to carry out its main functions, namely: A) Planning and operations functions. B) Organizing and investment function. C) Funding and investment function. D) Planning and control functions. Show Answer Correct Answer: D) Planning and control functions. 7. Raw materials costs are usually viewed as ..... costs. A) Product cost. B) Period Cost. C) Direct Labor. D) Factory Overhead Cost. Show Answer Correct Answer: A) Product cost. 8. Why is budgeting important? A) Allocates the amount of money that a company plans to spend on a particular activity or resource. B) It is the plan the business works to follow to achieve financial goals and success. C) Allows managers to check how effective their plans and processes are as well as what resources they will need in the future. D) All of the choices outlined indicates why budgeting are important. Show Answer Correct Answer: D) All of the choices outlined indicates why budgeting are important. 9. Which one of the following is not a cost element in manufacturing a product? A) Manufacturing overhead. B) Direct materials. C) Office salaries. D) Direct labor. Show Answer Correct Answer: C) Office salaries. 10. Indirect costs cannot easily be traced to the cost object A) True. B) False. Show Answer Correct Answer: A) True. 11. The production budget shows expected unit sales of 32, 000. Beginning finished goods units are 3, 600. Required production units are 33, 600. What are the desired ending finished goods units? A) 2, 000. B) 3, 600. C) 6, 400. D) 5, 200. Show Answer Correct Answer: D) 5, 200. 12. Any cost that cannot be traced back to a product A) Standard cost. B) Indirect cost. C) Direct cost. D) Period cost. Show Answer Correct Answer: B) Indirect cost. 13. Which of the following cost accounting systems assigns manufacturing costs to a product or batches of products and is ideal for companies which produce unique products? A) Activity-based costing. B) Project costing. C) Job-order costing. D) Process costing. Show Answer Correct Answer: C) Job-order costing. 14. Sales commissions are classified as A) Overhead costs. B) Period costs. C) Product costs. D) Indirect labor. Show Answer Correct Answer: B) Period costs. 15. Preparing a budget includes A) Income, Expenses, Saving. B) Only listing your expenses. C) Only listing your debts. D) Only listing your income. Show Answer Correct Answer: A) Income, Expenses, Saving. 16. These activities include transactions and events that affect net income. A) Operating Activities. B) Investing Activities. C) Financing Activities. D) Managerial Activities. Show Answer Correct Answer: A) Operating Activities. 17. Costs are considered an ..... circumstance; whereas economic conditions and degree of competition are ..... circumstances A) External; external. B) Internal; internal. C) External; internal. D) Internal; external. Show Answer Correct Answer: D) Internal; external. 18. Identify whether the item being described by the statement is Competence, Confidentiality, Credibility or Integrity: "Refrain from using information for unethical or illegal advantage." A) Competence. B) Confidentiality,. C) Credibility. D) Integrity. Show Answer Correct Answer: D) Integrity. 19. As total volume increases, unit fixed cost A) Stays the same. B) Decreases. C) Increases. D) None of above. Show Answer Correct Answer: B) Decreases. 20. The number of completed units in a specific period of time in process accounting. A) Equivalent units. B) Proportional units. Show Answer Correct Answer: A) Equivalent units. ← PreviousNext →Related QuizzesAccounting QuizzesManagerial Accounting Quiz 1Managerial Accounting Quiz 2Managerial Accounting Quiz 3Managerial Accounting Quiz 4Managerial Accounting Quiz 5Managerial Accounting Quiz 6Managerial Accounting Quiz 7Managerial Accounting Quiz 8Managerial Accounting Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books