SUBJECT:- GENERAL ACCOUNT Noninventoriable costs are charged against. in which the revenue is earned. a. sales b. production c. managerial d. investment revenue in the period

Revenue generally should be recognized   Select one: when realized. when the performance obligation is satisfied. at the time of cash collection. at the end of production.

Sales commission is a: a. Product and direct material cost. b. Product and direct labor cost. c. Product and manufacturing overhead cost. d. Period cost and Selling and Marketing expense. e. Period cost and General and Administrative expenses.

Costs that are treated as assets until the product is sold are called O A. Conversion cost O B. Selling expenses O C. Period Cost O D. Product Costs

1. The amount by which an item contributes towards covering fixed cost and providing for profit is known as:        a. gross profit       b. gross margin       c. contribution margin       d. net margin

A responsibility center structure that considers investments made by the operating segments by using a common cost of capital percentage is called_______. A. return on investment B. residual income C. a profit center D. a discretionary cost center

In assigning costs to goods transferred out, how do the weighted average and FIFO methods differ?

The Pet Store experienced the following events for the Year 1 accounting period: 1. Acquired $55,000 cash from the issue of common stock. 2. Purchased $78,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; freight cost of $1,400 paid in cash. 4. Sold inventory on account that cost $44,000 for $83,000. 5. Freight cost on the goods sold in Event 4 was $1,200. The goods were shipped FOB destination. Cash was paid for the freight cost. 6. Customer in Event 4 returned $5,360 worth of goods that had a cost of $2,730. 7. Collected $68,060 cash from accounts receifable. 8. Paid $64,000 cash on accounts payable. 9. Paid $3,360 for advertising expense. 10. Paid $3,570 cash for insurance expense. Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction NA. Transaction Cost

Research and development costs are classified as: O a. Inventoriable costs. O b. Product costs. O c. Period costs. O d. Cost of goods sold.

How you relate the differential cost with management of revenue in management accounting.