NOTE Chapter lest 16 : Each, of the 40 correa arwwe assigned a weight of 2w%. FI

Question

NOTE Chapter lest 16 : Each, of the 40 correa arwwe assigned a weight of 2w%. FILL-IN-THE-BLANK-PRINCIPLES AND TERMINOLOGY-60% INSTRUCTIONS: Complete each of the following statements by writing the appropriate words Ar O. A type of information that management uses in conducting daily operations and in planning future operations and that includes both historical and estimated data is manager 1. A department that provides services, assistance, and advice to other departments directly involved in the basic objectives of the organization is a(n) 2-3. Managerial accounting reports use two types of information. These include: 2. data... 4. The Sales Department would be considered a (line or staff) department. 5. The Machining Department would be considered a (line or staff department.. Manufacturing costs are classified into two categories in terms of the 6-7. decision-making needs of management: 6. 8. The development of organizational objectives and the translation of these objectives into courses of action is called Work in process consists of three costs of resources that have entered the manufacturing process on unfinished products: 9-11. 9. 10. 12. The term used to describe the cost of materials that are an integral part of total product cost is. 13. Overhead costs are (direct or indirect) costs... 14. Direct labor and factory overhead are considered _ costs of the product

Explanation / Answer

managerial accounting reports use two types of information. these include:

1. financial data.

2.non-financial data

4. staff department

5.line department

6. a) controllable cost

b) uncontrollable cost

8. organising

9. raw material

10. labor

11. overhead

12.Direct material cost

13.false, fixed and variable costs

14. variable

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