Who Are the Users of Accounting Systems

question 21

Multiple Choice

Who are the users of accounting systems?

• A) Financial accountants, managerial accountants, and system developers
• B) Financial accountants, managerial accountants, system developers, and tax accountants
• C) Financial accountants, managerial accountants, system developers, and governmental accountants
• D) Financial accountants, managerial accountants, governmental accountants, and tax accountants

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Definitions:

Conversion Cost

The total expenses of direct labor and manufacturing overheads used in transforming raw materials into completed goods.

Manufacturing Overhead

All indirect costs associated with the production process, including salaries of supervisors, maintenance, and utilities in the manufacturing facilities.

Product Costs

Costs that are directly associated with the creation of a product, including direct materials, direct labor, and manufacturing overhead.

Direct Materials

Raw materials that are directly traceable and integral to the finished product in the manufacturing process.