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Divulging company information (when not legally obligated to do so) would be a violation of which




Question;1. Divulging company information (when not legally obligated to do so) would be a violation of which part of the IMA Code of Conduct?;competenceconfidentialityindependencecredibility;2. Which of the following accounts would appear on the financial statements of ONLY a manufacturing firm?;bonds payablematerials inventoryprepaid insuranceretained earnings;3. In resolving an ethical conflict, which of the following would NEVER be appropriate?;discussing the matter with the chief executive officerdiscussing the matter with an external member of the board of directorstaking the matter to the press where there is no legal requirementresigning from the position because of a conflict;4. Which of the following costs would NOT be included in calculating inventory values under the absorption-costing basis?;direct materialsdirect laborfixed overheadselling and administrative expenses;5. Which of the following costs would be included as part of direct materials in the production of an automobile? glue for a sticker applied to the automobilesteelgasoline used to fuel machines in productionnone of these;6. Which of the following costs is a product cost?;lease payments on cars used by salespersonspresident's salaryproperty taxes on factory buildingdepreciation on office equipment;7. In a traditional manufacturing company, product costs include;direct materials onlydirect materials, direct labor, and factory materials and direct labor labor only;8. Which of the following would be an example of a unit-based cost driver?;engineering ordersdirect labor hoursinspection hoursmaterial moves;9. Altering the dates of shipping documents of next January's sales to record them as sales in the current year would be a violation of which standard of ethical conduct for management accountants?;competenceintegritycredibilityall of these;10. Cost behavior analysis focuses on how costs accounting policy changes over timereact to changes in profitreact to changes in activity levelnone of the above;11. Financial accounting information is used for;investment decisionsregulatory measuresstewardship evaluationall of these;12. _______________ is devoted to providing information for external users. Cost accountingFinancial accountingInternal accountingManagement accounting;13. Which of the following costs would NOT be included in operating product costs? research and developmentproductionmarketingall of these;14. The sum of direct labor and factory overhead is referred to as;conversion costsdirect product costsperiod costsprime costs;15. Inventory balances for the James Enterprises in February 2011 are as follows:February 1, 2011 February 28, 2011Raw materials $ 27,000 $21,000 Work in process 48,000 37,200Finished goods 108,000 90,000During February, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively.;1) What is the cost of materials used in production?;2) What are the total manufacturing costs added?;3) What is the cost of goods manufactured?;16. Assume the following data for Gross, Inc., for February: Beginning finished goods inventory $ 60,000Beginning work-in-process inventory 40,000Ending work-in-process inventory 80,000Ending finished goods inventory 50,000Factory overhead costs 200,000Direct materials used 160,000Direct labor 100,000What is the cost of goods manufactured for February? BE SURE TO SHOW WORK AND BRIEF EXPLANATION;17. You are a management accountant for the Eugene Division of Lowden Company. Your longtime friend, David Orth, is the Eugene Division manager. David was instrumental in helping you obtain your current position. Because the manager's annual bonus is based on the amount of profit the Eugene Division reports for the year, David has asked you to "massage the numbers" to make the Eugene Division appear more profitable. Considering the Standards of Ethical Conduct for Management Accountants, how would you respond to David Orth's request? EXPLAIN YOUR ANSWER


Paper#44155 | Written in 18-Jul-2015

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