Please answer the following 5 multiple choice questions. Please double check your answers, as this is for an important test! Thank you.

1. Managerial accounting information is generally prepared for A) regulatory agencies. B) investors. C) managers. D) stockholders. 2. Which one of the following is not part of managerial accounting? A) B) C) D) Calculating product cost Reporting financial information to the shareholders Maximizing short-term profits Determining whether planned goals are being met 3. What occurs when Finished Goods costs are removed from the balance sheet? A) They are reported as selling expenses. B) They are sent to the dump. C) They become cost of goods sold. D) They increase operating expenses. 4. Which of the following would be accounted for using a job order cost system? A) The production of textbooks B) The production of cans of spinach C) The pasteurization of milk D) The production of town homes 5. Which one of the following would most likely be a charge to Manufacturing Overhead? A) Work in process B) Finished goods C) Insurance D) Raw materials inventory