Question 1
When faced with a potential ethical conflict, the managerial accountant should first consult IMA ethics counselor.
◦ true
◦ false
Question 2
Lucas Manufacturing has three cost objects that it uses to accumulate costs for its manufacturing plants. They are:
| Cost object #1: | The physical buildings and equipment |
| Cost object #2: | The use of buildings and equipment |
| Cost object #3: | The availability and use of manufacturing labor |
The following manufacturing overhead cost categories are found in the accounting records:
| a. | Depreciation on buildings and equipment |
| b. | Lubricants for machines |
Required:
Assign each of the above costs to the most appropriate cost object.
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question in cost accounting