AC 202 Principles of Accounting II Name_Quiz#4
Park University Version D
Quiz 4D-Chapter 18
Multiple Choice Questions ( 10 points each ) Select the ONE, BEST Answer
1. Managerial accounting is different from financial accounting in that
A. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on subdivisions of the organization.
B. Managerial accounting never includes nonmonetary information.
C. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions.
D. Managerial accounting is used extensively by investors, whereas financial accounting is used only by creditors.
E. Managerial accounting is mainly used to set stock prices.
2. A direct cost is a cost that is:
A. Identifiable as controllable.
B. Variable with respect to the volume of activity.
C. Fixed with respect to the volume of activity.
D. Traceable to a cost object.
E. Sunk with respect to a cost object.
3. A fixed cost:
A. Requires the future outlay of cash and is relevant for future decision making.
B. Does not change with changes in the volume of activity within the relevant range.
C. Is directly traceable to a cost object.
D. Changes with changes in the volume of activity within the relevant range.
E. Has already been incurred and cannot be avoided so it is irrelevant for decision making.
4. Period costs for a manufacturing company would flow directly to:
A. The current income statement.
B. Factory overhead.
C. The current balance sheet.
D. Job cost sheet.
E. The current manufacturing statement.
Problem ( 60 points ) Show All Work!!!!!!!!
Use the following information to prepare the manufacturing statement for Forsythe Company for the month ended June 30. [pic]
Direct Materials Used……………………………………