Question

1. Managerial Internal (Inside) accounting information reports are generally prepared for

   1. A) Stockholders or Shareholders

   2. B) Creditors, Lenders, or Banks

   3. C) Managers.

   4. D) Regulatory Agencies, like the IRS or SEC

2. Which of the following is NOT an Internal User of the Financial Statements?

   1. A) Creditor or Lender or Bank

   2. B) Department Manager

   3. C) Controller

   4. D) Treasurer

3. The work labor of Factory workers that can be physically and directly and conveniently associated with making Raw Materials (RM) into Finished Goods (FG) is

   1. A) Manufacturing Overhead (OH).

   2. B) Indirect Materials (IDM).

   3. C) Indirect Labor (IDL)

   4. D) Direct Labor (DL).

4. Total Manufacturing Costs (TMC) include

   1. A) direct materials (DM) and direct labor (DL) only.

   2. B) direct materials (DM) and manufacturing overhead (OH) only.

   3. C) direct labor (DL) and manufacturing overhead (OH) only.

   4. D) direct materials (DM), direct labor (DL) , and manufacturing overhead (OH).

5. Sales Commissions are classified as

   1. A) Overhead costs (OH)

   2. B) Period costs.

   3. C) Product costs (DM, DL, OH)

   4. D) Indirect Labor (IDL).

Answer 1

	1)	option c
		Managers
	2)	option a
		Creditor or lender or bank
	3)	option d
		direct labor
	4)	option d
		direct materials , direct labor and manufacturing overhead
	5)	option c
		period costs