Question 1

Salon de Beauty,a local hair salon,incurred the following costs last month.(Hint: Treat Salon utilities as Variable cost)
  Calculate each of the following,where the cost object is customers served:
a.Total variable costs
b.Total fixed costs
c.Total direct costs
d.Total indirect costs

Accepted Answer

The answer of Salon de Beauty,a local hair salon,incurred the...

Question 2

Stetson Manufacturing builds custom wooden cabinets.Classify the following items as a)what category of product costs and b)whether the item is a prime or conversion cost.

Accepted Answer

The answer of Stetson Manufacturing builds custom wooden cabinets.Classify the...

Question 3

For each of the following independent cases,compute the missing values:

Accepted Answer

The answer of For each of the following independent cases,compute...

Question 4

Pretend you are a junior managerial accountant.Your supervisor has no knowledge of sustainability accounting.All of the following statements would be convincing arguments to advocate for the importance of sustainability accounting,except one.Which one?

Accepted Answer

While it is true that shareholders increasingly care about sustainability, it is not always the sole reason for companies to engage in sustainability accounting. The other statements suggest that sustainability accounting is reflective of changing accountability standards, recognizes the broader responsibilities companies have beyond just financial results, and complements financial strength in building a strong company for the future.

Question 5

For each of the following independent cases,compute the missing values:

Accepted Answer

The answer of For each of the following independent cases,compute...

Question 6

Imagine purchasing a cup of coffee.Which of the following statements correctly classifies the direct,indirect,variable,and fixed costs associated with that purchase,assuming the cost object is the cup of coffee?

Accepted Answer

The volume of coffee beans used is a variable cost because it changes along with the changing volume of cups of coffee sold.

The other options are incorrect:
A) The cost of the cup and the lid is a direct cost because it can be readily traced to the cost object.
B) The shop supervisor's salary is an indirect cost because it cannot be readily and feasibly traced to the cost object.
D) The shop's monthly water bill is an indirect cost because it cannot be readily and feasibly traced to the cost object.

Question 7

Salon de Beauty,a local hair salon,incurred the following costs last month.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is customers served.

Accepted Answer

The answer of Salon de Beauty,a local hair salon,incurred the...

Question 8

Parkside Rentals,a firm that rents tuxedos for special events,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is tuxedo rentals.

Accepted Answer

The answer of Parkside Rentals,a firm that rents tuxedos for...

Question 9

Adobe Music Company,which manufactures wooden and metal xylophones,incurred costs for the following items.
  Calculate each of the following,where the cost object is the xylophones manufactured by the company:
a.Total variable costs
b.Total fixed costs
c.Total direct costs
d.Total indirect costs

Accepted Answer

The answer of Adobe Music Company,which manufactures wooden and metal...

Question 10

Parkside Rentals,a firm that rents tuxedos for special events,incurred costs for the following items.
  Calculate each of the following,where the cost object is tuxedo rentals:
a.Total variable costs
b.Total fixed costs
c.Total direct costs
d.Total indirect costs

Accepted Answer

The answer of Parkside Rentals,a firm that rents tuxedos for...

Question 11

Quail Company builds snowboards.Quail Company has reported the following costs for the previous year.Assume no production inventories.
  Compute the following:
a.Direct material costs
b.Direct labor cost
c.Manufacturing overhead
d.Total manufacturing cost
e.Prime cost
f.Conversion cost
g.Total period cost

Accepted Answer

The answer of Quail Company builds snowboards.Quail Company has reported...

Question 12

Alameda Manufacturing manufactures a variety of wooden picture frames using recycled wood from old barns.Alameda Manufacturing has reported the following costs for the previous year.Assume no production inventories.
  Compute the following:
a.Direct material costs
b.Direct labor cost
c.Manufacturing overhead
d.Total manufacturing cost
e.Prime cost
f.Conversion cost
g.Total period cost

Accepted Answer

The answer of Alameda Manufacturing manufactures a variety of wooden...

Question 13

Melinda's Custom Homes,a construction company that builds custom-designed houses,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is the houses built by the company.

Accepted Answer

The answer of Melinda's Custom Homes,a construction company that builds...

Question 14

Elektra Enterprises manufactures custom boat covers.For each cost listed below,place an "X" in all of the appropriate categories.

Accepted Answer

The answer of Elektra Enterprises manufactures custom boat covers.For each...

Question 15

Pinnacle Manufacturing manufactures custom wheel covers.For each cost listed below,place an "X" in all of the appropriate categories.

Accepted Answer

The answer of Pinnacle Manufacturing manufactures custom wheel covers.For each...

Question 16

Willow Manufacturing manufactures custom tabletops.For each cost listed below,place an "X" in all of the appropriate categories.

Accepted Answer

The answer of Willow Manufacturing manufactures custom tabletops.For each cost...

Question 17

Mariposa Manufacturing builds custom wooden cabinets.Mariposa Manufacturing has reported the following costs for the previous year.Assume no production inventories.
  Compute the following:
a.Direct material costs
b.Direct labor cost
c.Manufacturing overhead
d.Total manufacturing cost
e.Prime cost
f.Conversion cost
g.Total period cost

Accepted Answer

The answer of Mariposa Manufacturing builds custom wooden cabinets.Mariposa Manufacturing...

Question 18

For each of the following independent cases,compute the missing values:

Accepted Answer

The answer of For each of the following independent cases,compute...

Question 19

Adobe Music Company,which manufactures wooden and metal xylophones,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is the xylophones manufactured by the company.

Accepted Answer

The answer of Adobe Music Company,which manufactures wooden and metal...

Question 20

For each of the following independent cases,compute the missing values:

Accepted Answer

The answer of For each of the following independent cases,compute...

Quiz 1: Introduction to Managerial Accounting

Salon de Beauty,a local hair salon,incurred the following costs last month.(Hint: Treat Salon utilities as Variable cost) Calculate each of the following,where the cost object is customers served: a.Total variable costs b.Total fixed costs c.Total direct costs d.Total indirect costs

Stetson Manufacturing builds custom wooden cabinets.Classify the following items as a)what category of product costs and b)whether the item is a prime or conversion cost.

For each of the following independent cases,compute the missing values:

Pretend you are a junior managerial accountant.Your supervisor has no knowledge of sustainability accounting.All of the following statements would be convincing arguments to advocate for the importance of sustainability accounting,except one.Which one?

For each of the following independent cases,compute the missing values:

Imagine purchasing a cup of coffee.Which of the following statements correctly classifies the direct,indirect,variable,and fixed costs associated with that purchase,assuming the cost object is the cup of coffee?

Salon de Beauty,a local hair salon,incurred the following costs last month.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is customers served.

Parkside Rentals,a firm that rents tuxedos for special events,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is tuxedo rentals.

Adobe Music Company,which manufactures wooden and metal xylophones,incurred costs for the following items. Calculate each of the following,where the cost object is the xylophones manufactured by the company: a.Total variable costs b.Total fixed costs c.Total direct costs d.Total indirect costs

Parkside Rentals,a firm that rents tuxedos for special events,incurred costs for the following items. Calculate each of the following,where the cost object is tuxedo rentals: a.Total variable costs b.Total fixed costs c.Total direct costs d.Total indirect costs

Melinda's Custom Homes,a construction company that builds custom-designed houses,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is the houses built by the company.

Elektra Enterprises manufactures custom boat covers.For each cost listed below,place an "X" in all of the appropriate categories.

Pinnacle Manufacturing manufactures custom wheel covers.For each cost listed below,place an "X" in all of the appropriate categories.

Willow Manufacturing manufactures custom tabletops.For each cost listed below,place an "X" in all of the appropriate categories.

For each of the following independent cases,compute the missing values:

Adobe Music Company,which manufactures wooden and metal xylophones,incurred costs for the following items.Place an "X" in the appropriate column to indicate whether they are direct or indirect,and whether they are variable or fixed.The cost object is the xylophones manufactured by the company.

For each of the following independent cases,compute the missing values: