1) Which management function is a manager performing when objectives are being established?

a) regulating

b) planning

c) motivating

d) directing

2) Which one of the following is a similarity of both a job order and a process cost system?

a) They both track direct materials and direct labor, but not manufacturing overhead.

b) They both track conversion costs, but not materials.

c) They both track the same three manufacturing cost elements direct materials, direct labor, and manufacturing overhead.

d) They both are used for the same type of inventory production items.

3) In the Carter Company, there are 1,000 units in beginning work in process, 9,000 units started into production, and 800 units in ending work in process 40% completed. How many physical units are to be accounted for?

a) 10,000

b) 9,200

c) 10,800

d) 8,800

4) Just-in-time processing

a) is based on a just-in-case philosophy.

b) results in a push approach.

c) minimizes inventory storage and waiting time.

d) all of these.