Quiz | AF M4. | Accounting for Cost
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Question 1 of 8
1. Question
One of the roles of management is that of planning. This is mainly concerned with the setting of goals and objectives for the business.
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Question 2 of 8
2. Question
Costs in a manufacturing operation that cannot be classified as either direct material or direct labor are classified as manufacturing overhead.
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Question 3 of 8
3. Question
On the balance sheet of a manufacturing company, raw materials inventory, work in process and ending finished goods will all be listed.
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Question 4 of 8
4. Question
The role and responsibilities of management include:
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Question 5 of 8
5. Question
Which of the following costs would be recorded as manufacturing overhead?
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Question 6 of 8
6. Question
Managerial accounting prepares internal reports ____________.
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Question 7 of 8
7. Question
Fixed cost per unit will remain constant regardless of changes in the activity level.
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Question 8 of 8
8. Question
Which function is management engaged in when reviewing financial data against the firm’s budgets?
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