2na 524 1 MC15068 In order to be useful to managers manageri

2/na, 524 1. MC.15-068 In order to be useful to managers, managerial accounting reports except id possess all of the following characteristics a. be prepared to report information for any unit of the business to support making 7 bsbe prepared in accordance with generally accepted accounting principles C. provide objective measures of past operations and subjective estimates d. be provided at any time management needs information about future decisions 2. MC.15.078 Which of the following are basic phases of the management process? a. organizing and directing b. planning and controlling c. supervising and directing d. decision making and supervising 3. MC.15-080 Accounting designed to meet the needs of decision makers inside the business is a. managerial accounting b. financial accounting c. external accounting d. general accounting 4. MC.15-083 Which of the following is the principle reason for preparing managerial accounting reports? a. GAAP b. usefulness to management c. cost of preparatiorn d. clarity 5. MC. 15-085 Compute conversion costs given the following data: direct materials, $347,500; direct labor, $196,300; factory overhead, $187,900; and seling expenses, $45,290 a. $731,700 b. $543,800 C.$187,900 d. $384,200 6. MC. 15-093 Which of the following is an example of direct labor cost for a cell phone manufacturer? cost of wages of assembly worker b. cost of oil lubricants for factory machinery c. salary of plant supervisor

Solution

1) option B be prepared in accordance with generally accepted principles 2) option B Planning and controlling 3) option a Managerial accounting 4) option b Usefulness to management 5) conversion cost= direct labor + factory overhead $ direct labor 196,300 Factory overhead 187,900 total conversion cost 384,200 option D is the answer 6) option a cost of wages of assembly worker