← Accounting 2 Final Test
5 Written Questions
5 Matching Questions
- Stockholders are most interested in what ratios?
- Which would be accounted for using job order cost system?
- At the end, a debit balance of 4000 remains in the MOH account, what happens?
- What is the order of presentation of items on an income statement?
- Which is correct concerning the CM?
- a production of town homes
- b it equals sales revenue-total VC
- c reduced income by 4000
- d income before taxes, discontinued operations, extraordinary items
- e profitability and solvency
5 Multiple Choice Questions
- unit cost computations
- service, manufacturing, merchandising
- Frosted Flakes
- starting point is expenditures rather than receipts
- comparison of actual results with planned objectives
5 True/False Questions
How to authorize the issuing of materials using internal controls? → utilize pre-numbered material req slips
When costs are assigned in the process cost system? → Frosted Flakes
What can be measured using ROI? → investment center
Which responsibility center generates revenues and costs? → Amount per unit varies depending on level of activity
Direct materials + Direct labor + M.O.H =? → Total manufacturing costs