Test Bank for Introduction to Managerial Accounting, 2024 Release by Peter Brewer Answers Included.pdf

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m m
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MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question.
m m m m m m m m m m



1) Allmcostsmincurred minmammerchandisingmfirmmaremconsidered mtombemperiod mcosts.
A) True
B) False
mAnswer:m
B

2) Depreciationmismalwaysmconsidered mamproduct mcost mformexternalmfinancialmreportingmpurposesmi
nmammanufacturingmfirm.
A) True
B) False
mAnswer:m
B

3) Advertisingmcostsmaremconsidered mproduct mcostsmformexternalmfinancialmreportsmsincemtheymaremincurr
ed minmordermtompromotemspecificmproducts.
A) True
B) False
mAnswer:m
B

4) Propertymtaxesmand minsurancempremiumsmpaid monmamfactorymbuildingmaremexamplesmof mmanufacturi
ngmoverhead.
A) True
B) False
mAnswer:m
A

5) Manufacturingmoverhead mcombined mwithmdirect mmaterialsmismknownmasmconversionmcost.
A) True
B) False
mAnswer:m
B

6) If mthemendingminventorymof mfinished mgoodsmismunderstated,mnet mincomemwillmbemoverstated.
A) True
B) False
mAnswer:m
B

7) Inmammanufacturingmcompany,mgoodsmavailablemformsalemequalsmthemsummof mthemcost mof mgo
odsmmanufactured mand mthembeginningmfinished mgoodsminventory.
A) True
B) False
mAnswer:m
A

8) Variablemcostsmaremcostsmwhosempermunit mcostsmvarymasmthemactivitymlevelmrisesmand mfalls.

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A) True
B) False
mAnswer:m
B




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9) Onmampermunit mbasis,mamfixed mcost mvariesminverselymwithmthemlevelmof mactivity.
A) True
B) False
mAnswer:m
A

10) Allmthemfollowingmwould mtypicallymbemconsidered mindirect mcostsmof mmanufacturingmamparticularmBoei
ngm747mtombemdelivered mtomSingaporemAirlines:melectricitymtomrunmproductionmequipment,mthemfactor
ymmanager'smsalary,mand mthemcost mof mthemGeneralmElectricmjet menginesminstalled monmthemaircraft.
A) True
B) False
mAnswer:m
B

11) Allmthemfollowingmcostsmshould mbemconsidered mdirect mcostsmof mprovidingmdeliverymroommservicesmtom
amparticularmmothermand mhermbaby:mthemcostsmof mdrugsmadministered minmthemoperatingmroom,mthematten
dingmphysician'smfees,mand mamportionmof mthemliabilityminsurancemcarried mbymthemhospital mtomcovermthem
deliverymroom.
A) True
B) False
mAnswer:m
B

12) Themfollowingmcostsmshould mbemconsidered mbymamlaw mfirmmtombemindirect mcostsmof mdefendingmampartic
ularmclient minmcourt:mrent monmthemlaw mfirm'smoffices,mthemlaw mfirm'smreceptionist'smwages,mthemcostsmof m
heatingmthemlaw mfirm'smoffices,mand mthemdepreciationmonmthempersonalmcomputerminmthemofficemof mthem
attorneymwhomhasmbeenmassigned mthemclient.
A) True
B) False
mAnswer:m
A

13) A mcost mthat mdiffersmfrommonemmonthmtomanothermismknownmasmamdifferentialmcost.
A) True
B) False
mAnswer:m
B

14) Opportunitymcostsmaremalwaysmrecorded masmexpensesminmthemaccountsmof manmorganization.
A) True
B) False
mAnswer:m
B

15) Sunkmcostsmaremirrelevant minmmakingmdecisions.
A) True
B) False
mAnswer:m
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A

16) Theminventorymaccountsmreported monmthembalancemsheet mof mammanufacturingmcompanymwillmdiffermfr
ommthosemof mammerchandisingmcompany.
A) True
B) False
mAnswer:m
A




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