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Managerial Accounting Quiz 20 (20 MCQs)

Quiz Instructions

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1. Who is an external user of financial statements?
2. Happy Face Company has fixed cost of P500, 000 per year, variable cost of P30 per unit, and a selling price of P50 per unit. The number of units the company must sell to earn an income of P100, 000?
3. A variable cost in total
4. Selling price-Variable Cost per unit is the formula for
5. The Avengers Company is trying to do cost-volume-profit analysis with the following information for the month of August:Sales-P1, 100, 000; Total Fixed costs-P280, 000; Total Variable costs-P660, 000; Unit price-P40.00. What is the break-even point in units?
6. Yes or No:If dividend per share grows while market price per share remains constant, it indicates positive effect to preferred stockholders
7. Happy Face Company has fixed cost of P500, 000 per year, variable cost of P30 per unit, and a selling price of P50 per unit. The break-even point in units:
8. A field of accounting that provides economic and financial information for managers and other internal user is called:
9. The Orange Company plans to sell a new product. The selling price is expected to be P150 per unit. The company is able to produce 15, 000 units but the company's marketing manager feels that a more realistic level of sales would be 12, 000 units. Variable cost is estimated at P70 per unit. Total fixed costs will be P900, 000. If the company desires to earn P400, 000 before tax at full capacity, what is the selling price must be charged?
10. In the key business processes of processing raw materials to the cost of goods sold, what will be recorded in the "raw material use" transaction:
11. What is NOT a corrective measure when analyzing performance report?
12. It's the process of Identifying, measuring analyzing, interpreting and communicating information in pursuit of an organizational's goal.
13. If Quantity Produced is less than Quantity Sold, which of the following statements must be true?
14. The form used in job-order costing to record the amount and cost of materials used for a particular job.
15. A retailer is considering outsourcing its customer service function. Before building a financial model, what is it imperative for them to keep in mind?
16. Some managerial accounting reports contain costs not incorporated in the basic accounting system.
17. Producing raw goods into finished goods is a characteristic of the company:
18. The price that a manufacturer recommends retailers sell the product.
19. Cost of products being processed and not yet completed at the end of the period is called
20. Is the following direct labor, direct materials, manufacturing overhead, or period costs?Salaries for factory employees
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