Homework answers / question archive / Question 6   Contribution margin is:   sales less cost of goods sold   sales less variable production, variable selling, and variable administrative expenses   sales less operating expenses   sales less all variable and fixed expenses   Question 8   Managerial accounting:   is primarily concerned with providing information to external users   must always follow generally accepted accounting principles   provides information to help managers make decisions in the future   emphasizes objectivity and verifiability     Question 9 1 pts During October, Clyde Barrow Corporation incurred $62,000 of direct labor costs and $4,000 of indirect labor costs

Question 6   Contribution margin is:   sales less cost of goods sold   sales less variable production, variable selling, and variable administrative expenses   sales less operating expenses   sales less all variable and fixed expenses   Question 8   Managerial accounting:   is primarily concerned with providing information to external users   must always follow generally accepted accounting principles   provides information to help managers make decisions in the future   emphasizes objectivity and verifiability     Question 9 1 pts During October, Clyde Barrow Corporation incurred $62,000 of direct labor costs and $4,000 of indirect labor costs

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Question 6

 

Contribution margin is:

 

sales less cost of goods sold

 

sales less variable production, variable selling, and variable administrative expenses

 

sales less operating expenses

 

sales less all variable and fixed expenses

 

Question 8

 

Managerial accounting:

 

is primarily concerned with providing information to external users

 

must always follow generally accepted accounting principles

 

provides information to help managers make decisions in the future

 

emphasizes objectivity and verifiability

 

 

Question 9

1 pts

During October, Clyde Barrow Corporation incurred $62,000 of direct labor costs and $4,000 of indirect labor costs. The journal entry to record the accrual of these wages would include a:

 

debit to Work in Process of $62,000

 

debit to Work in Process of $66,000

 

debit to Work in Process of $4,000

 

credit to Work in Process of $66,000

 

Question 10

1 pts

During December, $74,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a:

 

debit to Raw Materials of $74,000

 

debit to Manufacturing Overhead of $6,000

 

debit to Manufacturing Overhead of $74,000

 

debit to Work in Process of $74,000