DEVRY ACCT 346 Managerial Accounting Course Project on Bravo Baking C DEVRY ACCT 346 Week 4 Midterm 1

DEVRY ACCT 346 Week 4 Midterm 1

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1. Question : (TCO 1) Managerial accounting stresses accounting concepts and
procedures that are relevant to preparing reports for
2. Question : TCO 1) Which of the following statements regarding fixed costs is true?
3. Question : TCO 1) You own a car and are trying to decide whether or not to trade it
in and buy a new car. Which of the following costs is an opportunity cost in this
situation?
4. Question :(TCO 1) Shula’s 347 Grill has budgeted the following costs for a month in
which 1,600 steak dinners will be produced and sold: materials, $4,080; hourly labor
(variable), $5,200; rent (fixed), $1,700; depreciation, $800; and other fixed costs,
$600. Each steak dinner sells for $14.00 each. How much is the budgeted variable
cost per unit?
5. Question : (TCO 1) Which of the following is an example of a manufacturing
overhead cost?
6. Question : (TCO 1) Which of the following is a period cost?
7. Question : (TCO 1) If the balance in the Finished Goods Inventory account
increased by $30,000 during the period and the cost of goods manufactured was
$220,000, how much is cost of goods sold?