Question :
138.Which one of the following managerial accounting approaches attempts to : 1311593
138.Which one of the following managerial accounting approaches attempts to allocate manufacturing overhead in a more meaningful fashion?
a.Balanced scorecard
b.Just-in-time inventory
c.Activity-based costing
d.Total quality management
139.What is “balanced” in the balanced scorecard approach?
a.The number of products produced
b.The emphasis on financial and non-financial performance measurements
c.The amount of costs allocated to products
d.The number of defects found on each product
140.Which one of the following characteristics would likely be associated with a just-in-time inventory method?
a.Ending inventory of work in process that would allow several production runs
b.A backlog of inventory orders not yet shipped
c.Minimal finished goods inventory on hand
d.An understanding with customers that they may come to the showroom and select from inventory on hand
141.Many companies now focus on reducing defects in finished products with the goal of zero defects. This is called
a.Activity-based costing.
b.Balanced scorecard.
c.Value chain.
d.Total quality management.
142. Financial and managerial accounting are similar in that both
a.have the same primary users.
b.produce general-purpose reports.
c.have reports that are prepared quarterly and annually.
d.deal with the economic events of an enterprise.
143. The function that pertains to keeping the activities of the enterprise on track is
a.planning.
b.directing.
c.controlling.
d.accounting.
144. Property taxes on a manufacturing plant are an element of a
Product CostPeriod Cost
a.YesNo
b.YesYes
c.NoYes
d.NoNo
145. For a manufacturing company, which of the following is an example of a period cost rather than a product cost?
a.Depreciation on factory equipment
b.Wages of salespersons
c.Wages of machine operators
d.Insurance on factory equipment
146.For a manufacturing firm, cost of goods available for sale is computed by adding the beginning finished goods inventory to
a.cost of goods purchased.
b.cost of goods manufactured.
c.net purchases.
d.total manufacturing costs.
147. If the cost of goods manufactured is less than the cost of goods sold, which of the following is correct?
a.Finished Goods Inventory has increased.
b.Work in Process Inventory has increased.
c.Finished Goods Inventory has decreased.
d.Work in Process Inventory has decreased.
148.The principal difference between a merchandising and a manufacturing income statement is the
a.cost of goods sold section.
b.extraordinary item section.
c.operating expense section.
d.revenue section.
149. If the total manufacturing costs are greater than the cost of goods manufactured, which of the following is correct?
a.Work in Process Inventory has increased.
b.Finished Goods Inventory has increased.
c.Work in Process Inventory has decreased.
d.Finished Goods Inventory has decreased.
150.The sum of the direct materials costs, direct labor costs, and manufacturing overhead incurred is the
a.cost of goods manufactured.
b.total manufacturing overhead.
c.total manufacturing costs.
d.total cost of work in process.
151. The inventory accounts that show the cost of completed goods on hand and the costs applicable to production that is only partially completed are, respectively
a.Work in Process Inventory and Raw Materials Inventory.
b.Finished Goods Inventory and Raw Materials Inventory.
c.Finished Goods Inventory and Work in Process Inventory.
d.Raw Materials Inventory and Work in Process Inventory.
