Excerpt via Essay:
Managerial Term
Managerial Accounting
FINAL EXAMINATION
Please complete the following by typing the answer letter next to “ANS” (example “ANS: c) and return to your Teacher via Blackboard by night time, August 1, 2012:
A (n) ____ is a review to ascertain whether the procedures and techniques specified simply by top administration have been executed.
A) supervision audit
B) internal examine
C) inside control
D) internal accounting control
2) Variances
A) are quantitative expressions of plans of action
B) ignore areas that are problem areas
C) will be deviations from a plan
D) ignore areas that are presumed to be running smoothly
3) Which with the following costs is a variable cost?
A) rental expense for manufacturer building intended for manufacturer of electronics
B) lease expense for manufacturer machine to get manufacturer of electronics
C) fuel for airplane pertaining to airline
D) depreciation charge of airline for airline
ANS: C
4) Burning down Company, a producer of electronic devices, has the following data:
Selling price every unit $5. 00
Variable cost per unit $3. 00
Total fixed costs $90, 1000. 00
The contribution-margin ratio is
A) 30%
B) 40%
C) 60%
D) 100%
ANS: B
5) In a small development firm, a crew boss is added for every 10 workers applied. The incomes of the crew supervisors are a
A) adjustable cost
B) mixed expense
C) stage cost
D) fixed price
ANS: A
6) Salaries of the telemarketers are arranged at $10, 000 a month. The telemarketers also obtain a commission for every single donation they receive. They receive $5 per charité. The telemarketers salaries’ and commission can be described as ____ expense.
A) fixed
B) variable
C) blended
D) step
ANS: W
7) Accountancy firm can especially and exclusively identify indirect costs with a given expense object within an economically feasible way.
True or Phony?
ANS: True
8) Once determining the item cost of a manufactured product
A) direct material costs include small items just like tacks or glue
B) direct labor costs may well not include staff benefits
C) indirect development costs may include selling costs
D) there can be no direct labor costs
ANS: A
9) A business is trying to choose which merchandise to produce. The following details is available:
Costs Product A Product B
Immediate Materials you $2. 00 per device $2. 00 per product
Direct Elements 2 $1. 25 per unit $1. 25 per unit
Direct Materials several $0. 55 per product $0. 80 per device
Direct Labor $0. 75 per product $0. seventy per unit
Which merchandise cost is tightly related to the decision?
A) Direct Supplies 1
B) Direct Materials 2
C) Direct Components 3
D) Direct Labor
ANS: C
10) In decision making, relevance is more crucial than
A) precision
B) predictability
C) variable costs
D) fixed costs
ANS: D
11) The income foregone by a person who quits a job to begin a business can be an example of a (n)
A) sunk price
B) option cost
C) depreciable price
D) outlay cost
ANS: A
12) The key factors that firms outsource in order to improve the company’s focus and minimize operating costs.
True or False?
ANS: True
13) One way to decrease negative thinking of managers toward costs is by
A) zero-based spending budget
B) activities-based budgeting
C) long-range planning
D) participative budgeting
ANS: A
14) ____ established the overall goals and objectives of the firm.
A) Capital budgets
B) Cash financial constraints
C) Master budgets
D) Strategic programs
ANS: G
15) Maqui berry farmers Insurance Company had a static budgeted operating cash flow of $8. 6 million. Actual working income was $6. four million. Precisely what is the static-budget variance of operating cash flow?
A) $2. 2 , 000, 000 Favorable
B) $2. 2 million Bad
C) $6. 4 mil Favorable
D) $8. 6th million Bad
ANS: B
16) The next day Company has got the following details available:
Budgeted cost of
