Test | Multiple choice 1. Planning is a function that involves a. Hiring the right people for a particular job b. Coordinating the accounting information system C. Setting of goals and objectives for an entity d. Analysing financial statements 2. Which of the following is not a management function? a. Constraining c. Controlling b. Planning d. Directing and motivating 3. A manager that is establishing objectives is performing which management function? a. Motivating c. Planning b. Directing d. Constraining 4. Management accounting information is generally prepared for a. Stockholders c. Managers b. Creditors d. Regulatory agencies 5. Which of the following is not an internal user? a. Creditor c. Cost accountant b. Department manager d. Controller 6. The process of choosing among competing alternatives is called a. Planning c. Controlling b. Decision making d. Performance evaluation 7. The users of managerial accounting information include a. For-profit companies b. Not-for-profit companies C. Educational institutions d. All of these B. Which of the following is typically found in a corporation's code of ethics? a. Integrity c. Competence b. Honesty d. All of these9. The chief accounting officer for a firm is the a. Chief executive officer C. Vice president of sales b. Chief operating officer d. Controller 10. The provision of accounting information for internal users is known as a. Accounting C. Managerial accounting b. Financial accounting d. Cost accountingTest II Multiple choice Problem solving 10 points Last year, Barnyard Company incurred the following costs: Direct materials P 50,000 Direct labor 20,000 Manufacturing overhead 130,000 Selling expenses 40,000 Administrative expenses 36,000 Barnyard produced and sold 10,000 units at a price of P31.00 each. 1. Refer to the information for Barnyard Company above. The prime cost per unit is a. P 7.00 d. P 5.00 b. P 20.00 e. P 27.60 c. P 15.00 2. Refer to the information for Barnyard Company above. Conversion cost per unit is a. P 7.00 d. P 5.00 b. P 20.00 P 27.60 c. P 15.00 3. Refer to the information for Barnyard Company above. The cost of goods sold per unit is a. P 7.00 d. P 5.00 b. P 20.00 . P 27.60 c. P 15.00 4. Refer to the information for Barnyard Company above. The gross profit per unit is a. P 24.00 C. P 26.00 b. P 11.00 d. P 3.40 C. P 16.00 5. Refer to the information for Barnyard Company above. The total period expense is a. P 276,000 C. P 40,000 b. P 200,000 d. P 36,000 C. P 76,000 6. Refer to the information for Barnyard Company above. Net operating income is a. 34,000 C. P 270,000 b. P 110,000 d. P 74,000 C. P 234,0007'. Product or {manufacturing} costs consist of Direct materials. direct labor, and selling costs Direct materials. direct labor. manufacturing overhead. and Operating expanse Ad ministrative casts and conversion costs Prime casts and manufacturing overhead e. Selling and administrative costs anew The renewing costs retrace to Anmy Company for the feet quarter: Conversion costs P 435.00) Direct materials 215.000 Manufacturing overhead 190.000 Selling and administrative expense 135.000 B. What Is Anthony's prime cast for the last quarter? a. F 460.000 1:. P 405.000 b. P 410.000 (1. P 315.000 9. Anlony's mmfmufacturingaustsis a. P 460,000 C. P 650,003! b. P 645.000 d. P 340.000 10. Antony? total period costs I: a. P 185.000 c. P 400.00) b. F 215,000 d. P 620,000