Corporate Social Responsibility & Manufacturing Quiz

Which of the following activities fall under the category of downstream activities?

Which of the following is NOT a cost category for a manufacturing company?

What does the Triple Bottom Line concept emphasize?

What is the primary difference in calculating Cost of Goods Sold (COGS) between merchandising and manufacturing companies?

What is a key aspect of Corporate Social Responsibility (CSR)?

Which of these accounts is NOT part of a manufacturing company's inventory tracking system?

How are companies increasingly being chosen by customers and stockholders?

What is the primary purpose of a CSR report?

What happens to Work-in-Process Inventory as it is completed and ready for sale?

Which of these is NOT considered a period cost for a service company?

Based on the example of PepsiCo, Inc.’s 2021 Annual Report, which of the following is a demonstration of Corporate Social Responsibility (CSR) in their operations?

Which of the following is NOT considered a product cost for a manufacturing company?

How does managerial accounting support the Triple Bottom Line concept?

How are period costs matched with revenue?

What is the primary reason for tracking the flow of costs in a manufacturing company?

A manufacturing company's beginning raw materials inventory is $10,000, and they purchased $25,000 worth of raw materials during the period. If the ending raw materials inventory is $8,000, what is the amount of raw materials used in production during the period?

Which of the following would NOT be considered a period cost for a merchandising company?

Which of the following is NOT a key focus of managerial accounting in service and merchandising companies?

Why are inventory accounts considered assets on the balance sheet?

Which of the following statements accurately describes the treatment of manufacturing overhead on the balance sheet?

What is the primary difference in balance sheet classification between service companies and merchandising companies?

How is factory rent classified in a manufacturing company?

What is the primary purpose of managerial accounting?

Which of the following is an example of a period cost?

What is a key benefit of implementing an Enterprise Resource Planning (ERP) system?

Which strategy is most aligned with the principle of time-based competition?

What is a potential drawback of holding large amounts of inventory?

How does Just-in-Time (JIT) management contribute to a company's competitive advantage?

What is a key characteristic of a company focused on time-based competition?

Which of the following is a benefit of e-commerce in the context of time-based competition?

How does managerial accounting support a company's competitive advantage in a global market?

How does the implementation of JIT management impact the relationship between a company and its suppliers?

What is the unit cost per service provided by Smart Touch Learning?

How much did Smart Touch Learning pay for each tablet before manufacturing?

What is the cost savings per tablet when manufacturing instead of purchasing?

What formula is used to calculate the average unit cost per item sold?

If Smart Touch Learning provided 2,000 services instead of 1,950, what would be the new unit cost per service?

What is the primary purpose of a dashboard in a business context?

What combination of knowledge is ideal for today's business employees?

How do cloud-based services primarily benefit companies facing staffing shortages?

What is a significant risk associated with the increasing use of cloud-based services?

What is the main focus of Total Quality Management (TQM)?

Which of the following is NOT a focus area within Total Quality Management (TQM)?

What does the value chain concept entail in a business?

What cultural aspect does Total Quality Management (TQM) aim to foster among employees?

What is the primary focus of managerial accounting?

Who is typically responsible for developing a company's strategic goals?

What role does a CEO play in relation to the board of directors?

In an organizational structure, what does the relationship between departments and divisions illustrate?

What is one of the primary responsibilities of division managers?

Which of the following positions is classified as a line position?

What is a key activity that managers engage in using managerial accounting?

Which level of management is primarily responsible for the day-to-day decision making in a company?

Which activity is part of the upstream phase in the value chain?

What does the Triple Bottom Line concept encourage companies to balance?

Which of the following represents an aspect of Corporate Social Responsibility (CSR)?

How does managerial accounting assist businesses in the value chain?

What is a common reason for customers and stockholders to prefer certain companies?

What do CSR reports commonly include?

Which statement correctly describes the role of managerial accounting in service companies?

A company’s commitment to community service is an example of which aspect of business responsibility?

What is one key technical skill that managerial accountants must possess?

Which of the following is considered a nontechnical skill essential for managerial accountants?

According to the IMA's ethical standards, which action is NOT recommended when resolving ethical dilemmas?

Which type of company primarily resells products they have purchased from suppliers?

What characterizes 'soft' skills needed by managerial accountants?

What fundamental ethical principle involves the confidentiality of information for managerial accountants?

Which managerial accountant skill primarily assists in enhancing decision-making in the context of economic changes?

What is one of the primary responsibilities of managerial accountants in relation to company management?

What is classified as Cost of Goods Sold (COGS) for a merchandising company?

Which type of cost includes selling and administrative expenses?

What type of inventory do merchandising companies carry on their balance sheet?

Which statement accurately describes the difference between service and merchandising companies?

Which cost is classified as a product cost in a manufacturing company?

What classification applies when rent is paid for a corporate office in a manufacturing company?

What is the cost of goods manufactured for Smart Touch Learning after considering the Work-in-Process Inventory?

Which of the following components is included in the calculation of Total Manufacturing Costs?

What amount is reported for Direct Materials Used in the cost calculations?

How much is the Total Manufacturing Overhead incurred in the production process?

What is the formula used to compute the Cost of Goods Manufactured?

Which inventory costs remain on the balance sheet until production is completed?

Which component is NOT included in Total Manufacturing Costs?

What is the main purpose of calculating Cost of Goods Manufactured?

What is the total manufacturing costs to account for Smart Touch Learning?

What is the formula used to calculate the unit product cost in Smart Touch Learning?

How is the Cost of Goods Sold (COGS) calculated at Smart Touch Learning?

What is the Cost of Goods Manufactured (COGM) for Smart Touch Learning based on the information provided?

What factor must Smart Touch Learning consider in addition to the unit product cost when determining their sales price?

What does the formula 'Beginning Balance + Additions - Ending Balance = Amount Used' help determine?

If Smart Touch Learning produces 2,200 tablets, what is the unit product cost?

How much is the Cost of Goods Sold (COGS) for Smart Touch Learning when 2,000 tablets are sold?

Which of the following is NOT part of the unit product cost calculation for Smart Touch Learning?