15) The cost of A) appraisal cost. C) external failure cost 16) A CFO would have

Question

15) The cost of A) appraisal cost. C) external failure cost 16) A CFO would have all of the following s A managing the preparation of all corporate tax retuns B) investing in new production eguipment. C) providing reports to creditors as required. D) managing corporate financing 161 entry to assign $2.500 of direct labor and 5600 of indirect labor inwolves a debit to A) the Work-in-Process Overhead account for $600 and a credit to the Wages Payable account for $3,100 B) the Manufacturing Overhead account for $3,100. C) the Work-in-Process Inventory account for $2,500 and a credit to Manufacturing Overhead account for $600. D) the Work-in-Process Inventory account for $3,100. 1s) Roarie Enterprises, manufacturers high end fashion accessories and has provided the tollowing dat 18)_ the latest quarter ended March 31st: of Goods Manufactured Cost of Goods Sold Property insurance paid on factory Utilities for the factory Indirect materials used in production Sales Revenue $10,900 $4,300 $159,600 Calculate gross profit for Roarie Enterprises' first quarter. D) $485,250 B) $78,750 C) $405,350 A) $226,050 19) Which of the following statements is true about managerial accounting? A) Managerial accounting reports are audited by CPAs B) Managerial accounting reports must follow GAAP. C) Managerial accounting reports provide detailed internal inforination. D) Managerial accounting reports aid potential investors 20) 20) A company produces toy airplanes at a variable cost of $28.50 per toy. lf 7,020 toys are produced at a total variable cost of $200,070, the total variable cost at 4,520 toys will be D) $218,240. B) $141,360. C) $128,820. A) $31. 21) 21) ABM stands for D) all but managers. C) activity biased management.

Explanation / Answer

Question No. 15 Option A. Appraisal cost Question No. 16 Option B. Investing in new production equipment Question No. 17 Option A. Debit to the work in process inventory Account for $2500 and debit to the Manufacturing overhead account for $600 and a credit to the Wages payable account for $3100 Question No. 18 Option C. $405,350    Sales revenue - Cost of Goods sold = 565,000-159,650 Question No. 19 Option C.Managerial accounting reports provide detailed internal information Question No. 20 Option C. $128,820     (4,520*28.50) Question No. 21 Option B. Activity -based management

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