to enter your answers. 1) Managerial accounting information: A) Is used mainly b

Question

to enter your answers. 1) Managerial accounting information: A) Is used mainly by external users. B) Can be used for control purposes but not for planning purposes. D Lnvoives gathering information about costs for plannins andcl decisions. D) Has little to do with controlling costs E) Is generally the only accounting information available to managers. hich of the following should not be included in direct materials costs? A) Invoice costs of direct materials. B) Incoming freight charges. C) Materials handling costs. D) Materials storage costs. E) Delivery charges on shipments to customers. 2) W 3) The salary paid to the assembly line supervisor would normally be classified as: A) An assembly cost. B) A period cost. C) A general cost. D) Indirect labor. E) Direct labor. 4) Labor costs that are clearly associated with specific units of product because the labor is used to convert raw materials into finished products are called: A) Indirect labor. B) Contracted labor. C) All labor D) Direct labor. E) Finished labor.

Explanation / Answer

Solution 1:

Managerial accounting information "Involves gathering information about costs for planning and control decisions"

Hence option C is correct.

Solution 2:

Delivery charges on shipments to customers are not included in direct material cost.

Hence option E is correct.

Solution 3:

The salary paid to the supervisor of an assembly line would normally be classified as "Indirect Labor"

Hence option D is correct.

Solution 4:

Labor costs that are clearly associated with specific units of product because the labor is used to convert raw material into finished products are called "Direct Labor"

Hence option D is correct.

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