ACCT 505 Managerial Accounting Week 4 Midterm Exam Set 4 Devry

QUESTION

ACCT 505 Week 4 Midterm Set 4 (MCQs & Essay – May 2011)(TCO A) Wages paid to a timekeeper in a factory are a ______.(TCO A) The costs of staffing and operating the accounting department at Central Hospital would be considered by the Department of Surgery to be ______.(TCO A) Inventoriable costs are also known as ______.(TCO A) Within the relevant range, variable costs can be expected to ______.(TCO F) When manufacturing overhead is applied to production, it is added to ______.(TCO F) Under a job-order costing system, the dollar amount transferred from Work in Process to Finished Goods is the sum of the costs charged to all jobs ______.(TCO F) Equivalent units for a process costing system using the FIFO method would be equal to___.(TCO B) The contribution margin ratio always decreases when the ______.(TCO B) The break-even point in unit sales is found by dividing total fixed expenses by______.(TCO E) Under variable costing, ______.

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