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ACC2200 - ACF2200 - Introduction to management accounting - S1 2026

ACC2200 - ACF2200 - Introduction to management accounting - S1 2026

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Depreciation of factory equipment would be classified as:

administrative cost.

operating cost.

manufacturing overhead.

100%

period cost.

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Electricity costs that were incurred by a company's production processes should be debited to which account?

Manufacturing Overhead

Cost data that are classified and recorded in a particular way for one purpose may be inappropriate for another use. For example, costs that would likely be noncontrollable by a department supervisor include:

insurance on the plant where the department is housed.

100%

materials used in department production.

bonuses earned by department workers for on-time production.

overtime pay earned by workers in the department.

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Transformation of the managerial accountant role within

modern companies has been:

from business partner to financial historian.

from analyst to number cruncher.

from number cruncher to trusted advisor.

100%

from team leader to support department employee.

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In which of the following

industries could job costing be used?

Specialty manufacturing

100%

Food processing

Cement production

Bread making

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Which of the following statements about materials is false?

The use of indirect materials gives rise to a debit to Manufacturing Overhead.

Direct materials are accounted for in a different manner than indirect materials.

Acquisitions of materials are normally charged to the Purchases account.

100%

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The following data apply to Stratford Ltd:

Work in process inventory, beginning of the year	$	9 000
Manufacturing overhead applied during the year	$	20 000
Work in process inventory, end of the year	$	14 000
Finished goods inventory, beginning of the year	$	7 500
Finished goods inventory, end of the year	$	5 000
Cost of goods sold during the year	$	75 000

Calculate the cost of goods manufactured during

the year

$70 500

$62 500

$67 500

$72 500

100%

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The flow of manufacturing

costs through the system is:

raw materials inventory;

finished goods inventory; work in process inventory; cost of goods sold

raw materials inventory;

work in process inventory; cost of goods sold; finished goods inventory

work in process inventory;

raw materials inventory; finished goods inventory; cost of goods sold

raw materials inventory;

work in process inventory; finished goods inventory; cost of goods sold

100%

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Rayon Textile Company manufactures a variety of fabrics. All materials are introduced at the beginning of production while conversion cost is incurred evenly through manufacturing. On April 1, the Weaving Department had 2,000 units of work in process that were 40% complete as to conversion costs. During April, 8,000 units were completed and on April 30, 3,500 units remained in production, 60% complete with respect to conversion costs.

The equivalent units of materials for April total:

Hsu Company incurred $90,000 of depreciation for the year. 80% relates to the firm's production facilities, and 20% relates to sales and administrative offices. If all items are handled in the proper manner, a review of the company's accounting records should reveal a:

debit to Manufacturing Overhead for $72,000.

100%

debit to Work-in-Process Inventory for $18,000.

debit to Depreciation Expense for $90,000