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Managerial Accounting Concepts and Principles MCQs

Which of the following is not true?

Which of the following are basic inventories for a manufacturer?

The three basic elements of the cost of a manufactured product are:

Which of the following would not be an element of factory overhead?

A firm had beginning finished goods inventory of $20,000; its cost of goods manufactured was $75,000; its gross margin was $80,000; and its sales were...

A firm had beginning finished goods inventory of $15,000; ending finished goods inventory of $20,000; and its cost of goods sold was $80,000. The cost...

A firm had $200,000 in sales; $120,000 in goods available for sale; ending finished goods inventory of $20,000; and selling and administrative expense...

A cost which changes in proportion to changes in volume of activity is called a:

A direct cost is a cost that is classified by:

A sunk cost is a cost that is classified by:

A product cost is a cost that is classified by:

Which of the following costs is not capitalized as inventory?

Which of the following is a period cost?

A management concept under which all managers and employees at all stages of company operations strive toward higher standards and a reduced number of...