Managerial Accounting Essay

2435 Words Apr 23rd, 2012 10 Pages
Ch.17
1. The building blocks of financial statement analysis include: Liquidity and Efficiency, Solvency, Profitability, Market Prospects.
2. The ability to meet short-term obligations and to efficiently generate revenues is called: Liquidity and Efficiency
3. The ability to generate future revenues and meet long-term obligations is referred to as: Solvency
4. The ability to provide financial rewards sufficient to attract and retain financing is called: Profitability
5. The ability to generate positive market expectations is called: Market Prospects
6. Standards for comparisons in financial statement analysis include: Intra-company, Competitor, Industry, Guidelines
7. The comparison of a company's financial condition and
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Another title for goods in process inventory is: work in process inventory
33. The unit contribution margin is: the amount by which a product’s unit selling price exceeds its total unit variable cost. (Sales price per unit-total variable cost per unit)
34. The contribution margin ratio: The percent of a units selling price that exceeds total unit variable cost. (Contribution margin per unit/sales price per unit)
35. Factory overhead costs normally include all of the following except: finished goods
36. The total cost of goods completed during the accounting period for a manufacturer is called: The manufacturing statement
37. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: Cost of goods sold
38. Juliet Corporation has accumulated the following accounting data for the year:
The cost of goods manufactured for the year is: Direct materials used + direct labor + factory overhead + beginning goods in process - ending goods in process
39. A manufacturing company has a beginning finished goods inventory of $, raw material purchases of $, cost of goods manufactured of $, and an ending finished goods inventory of $. The cost of goods sold for this company is: Beginning Inventory + Inventory Purchases – End Inventory
40. The following information relates to the manufacturing operations of the IMH Publishing Corporation for the

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