please help me on my Accounting?

36. IMA standards help guide company accountants' decisions. A) True B) False 37. Labor costs that are directly traceable to the product are part of manufacturing overhead. A) True B) False 38. Merchandising companies typically have a single category of inventory. A) True B) False 39. The entry to transfer work in process to finished goods includes a credit to the finished goods inventory account. A) True B) False 40. A food and beverage company would most likely use a job costing system. A) True B) False 41. When materials are requisitioned for a job, the materials inventory account is debited. A) True B) False 42. The process costing system has a single Work in Process Inventory account. A) True B) False 43. Conversion costs are generally added evenly throughout the process. A) True B) False 44. An easy method to separate mixed costs into fixed and variable components is called the averaging method. A) True B) False 45. Managerial accounting develops reports for internal parties. A) True B) False 46. A job cost record is a document that accumulates direct materials, direct labor, and manufacturing overhead costs assigned to each individual job. A) True B) False 47. The entry to transfer goods in process from Department A to Department B includes a debit to Work in Process-Department A. A) True B) False 48. To determine the target sales in units, total fixed expenses plus the target operating income are divided by the contribution margin ratio. A) True B) False 49. E-commerce can integrate all of a company's worldwide functions, departments, and data. A) True B) False 50. At the end of the year, the balance in the manufacturing overhead account is closed out. A) True B) False

Asked By: Khulan - 4/20/2011
Best Answer - Chosen by Asker
Answered By: MR. SLAM DUNK - 4/20/2011
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