Question

All true or false

Marketing managers can use managerial accounting information to decide whether to advertise on social media.

Managerial accounting reports and information are used by external users and financial accounting by internal users.

A company that produces products individually designed to meet the needs of a specific customer, would normally use a job order costing system.

The total manufacturing costs on job cost sheets for unfinished jobs equals the total amount in the Work in Process Inventory account in the general ledger.

The cost of all direct materials issued to production is debited to Work in Process Inventory.

Answer 1

Marketing managers can use managerial accounting information to decide whether to advertise on social media
True, since it will show whether advertising gives positive numbers or not

Managerial accounting reports and information are used by external users and financial accounting by internal users
False, finacial accounting is for external users and managerial accounting is for internal

A company that produces products individually designed to meet the needs of a specific customer, would normally use a job order costing system
True, job costing is for customized jobs

The total manufacturing costs on job cost sheets for unfinished jobs equals the total amount in the Work in Process Inventory account in the general ledger.
True, since work in process account also shows unfinished jobs

The cost of all direct materials issued to production is debited to Work in Process Inventory
True