1. Controller's staff frequently comprises of many management accountants. All of given would most likely be on controller's staff except ________.
i) General accountants
ii) Budgets and budget analysts
iii) Investments and shareholder relations managers
iv) Cost accountants
2) Which of the given is false in regards to direct materials for auto manufacturer?
i) Steel would probably be a direct material
ii) Upholstery fabric would probably be a direct material
iii) Oil to lubricate factory machines would not be direct material
iv) Small plastic clips to hold on door panels, as they become part of auto, should be accounted for as direct materials
3. Which of the given is the example of direct labour cost for airplane manufacturer?
i) Cost of oil lubricants for factory machinery
ii) Cost of wages of assembly worker
iii) Salary of plant supervisor
iv) Cost of jet engines
4. Which of the given is not prime cost?
i) Supervisor's wages
ii) Direct labor wages
iii) Machine operator wages
iv) Assembly line wages
5. What is the reason of Statement of Cost of Goods Manufactured?
i) To find out the ending materials inventory
ii) To find out the ending work in process inventory
iii) To find out the amounts transferred to finished goods
iv) All of the answers are true
6. All of following are ways which managers use managerial information except ________.
i) To estimate company's stock performance
ii) To estimate performance of a company's operations
iii) To support long-term planning decisions
iv) To find out the cost of manufacturing a product