SELECT THE BEST ANSWER(1 Mark Each Question)
1. Which of the following is *not* one of the categories in /Standards of Ethical Conduct
for Practitioners of Management Accounting and Financial Management?
a. confidentiality
b. competence
c. integrity
d. independence
2. A cost that remains the same per unit at every level of activity is a
a. Fixed cost.
b. Mixed cost.
c. Semi-variable cost.
d. Variable cost.
3. The following data pertain to activity and electricity costs for two recent years:
Year1 Year 2
Activity Levels in Units 12,000 8,000
Electricity costs $15,000 $12,000
Using the high-low method, what is the variable cost per unit for electricity?
a. $1.25 per unit
b. $1.50 per unit
c. $1.33 per unit
d. $0.75 per unit
e. None of the above
4. Hooter Manufacturing Company reported the following year-end information:
Beginning work in process inventory $75,000
Beginning raw materials inventory 20,000
Ending work in process inventory 73,000
Ending raw materials inventory 23,000
Raw materials purchased 220,000
Direct labour 170,000
Manufacturing overhead 80,000
How much is Hooter Manufacturing’s cost of goods manufactured for the year?
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