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58 Pages

### WarrenSMChap14(MAN)

Course: ACCT 116B, Spring 2009
School: City
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Word Count: 8211

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14 CHAPTER (MAN) FINANCIAL STATEMENT ANALYSIS EYE OPENERS 1. Horizontal analysis is the percentage analysis of increases and decreases in corresponding statements. The percent change in the cash balances at the end of the pre-ceding year from the end of the current year is an example. Vertical analysis is the percentage analysis showing the relationship of the component parts to the total in a single statement....

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City - ACCT - 116B
CHAPTER 13 (MAN) STATEMENT OF CASH FLOWSEYE OPENERS1. It is costly to accumulate the data needed. 2. It focuses on the differences between net income and cash flows from operating activities, and the data needed are generally more readily available and
City - ACCT - 116B
CHAPTER 27 (FIN MAN); CHAPTER 12 (MAN) COST MANAGEMENT FOR JUST-IN-TIME ENVIRONMENTSEYE OPENERS1. Just-in-time processing is a philosophy that focuses on reducing time, cost, and poor quality within manufacturing processes. The result of these efforts i
City - ACCT - 116B
CHAPTER 26 (FIN MAN); CHAPTER 11 (MAN) COST ALLOCATION AND ACTIVITY-BASED COSTINGEYE OPENERS1. Product costs are used to determine the profitability of individual products. This is useful information in setting prices, determining promotional strategies
City - ACCT - 116B
CHAPTER 25 (FIN MAN); CHAPTER 10 (MAN) CAPITAL INVESTMENT ANALYSISEYE OPENERS1. The principal objections to the use of the av erage rate of return method are its failure to consider the expected cash flows from the proposals and the timing of these flow
City - ACCT - 116B
CHAPTER 24 (FIN MAN); CHAPTER 9 (MAN) DIFFERENTIAL ANALYSIS AND PRODUCT PRICINGEYE OPENERS1. a. Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action compared with an alternative. b. Differenti
City - ACCT - 116B
CHAPTER 23 (FIN MAN); CHAPTER 8 (MAN) PERFORMANCE EVALUATION FOR DECENTRALIZED OPERATIONSEYE OPENERS1. In the cost center, the department manager is responsible for and has authority over costs only. In a profit center, the managers responsibility and a
City - ACCT - 116B
CHAPTER 22 (FIN MAN); CHAPTER 7 (MAN) PERFORMANCE EVALUATION USING VARIANCES FROM STANDARD COSTSEYE OPENERS1. Standard costs assist management in controlling costs and in motivating employees to focus on costs. 2. Management can use standards to assist
City - ACCT - 116B
CHAPTER 20 (FIN MAN); CHAPTER 5 (MAN) VARIABLE COSTING FOR MANAGEMENT ANALYSISEYE OPENERS1. a. Under absorption costing, both variable and fixed manufacturing costs are included as a part of the cost of the product manufactured. b. Under variable costin
City - ACCT - 116B
CHAPTER 19 (FIN MAN); CHAPTER 4 (MAN) COST BEHAVIOR AND COST-VOLUME-PROFIT ANALYSISEYE OPENERS1. Total variable costs vary in direct proportion to changes in the level of activity. Unit variable costs remain the same with changes in the level of activit
City - ACCT - 116B
CHAPTER 18 (FIN MAN) CHAPTER 3 (MAN) PROCESS COST SYSTEMSEYE OPENERS1. a. An assembly-type industry using mass production methods, such as TV assembly, would use the process cost system because the products are somewhat standard and lose their identitie
City - ACCT - 116B
CHAPTER 17 (FIN MAN); CHAPTER 2 (MAN) JOB ORDER COSTINGEYE OPENERS1. Product cost information is used by managers to (1) establish product prices, (2) control operations, and (3) develop financial statements. 2. a. Job order cost system and process cost
City - ACCT - 116B
CHAPTER 16 (FIN MAN); CHAPTER 1 (MAN) MANAGERIAL ACCOUNTING CONCEPTS AND PRINCIPLESEYE OPENERS1. Financial accounting and managerial accounting are different in several ways. Financial accounting information is reported in statements that are useful to
City - ACCT - 116B
CONTENTSChapter 16 (Fin Man); Chapter 1 (Man) Managerial Accounting Concepts and Principles. Chapter 17 (Fin Man); Chapter 2 (Man) Job Order Costing. Chapter 18 (Fin Man); Chapter 3 (Man) Process Cost Systems. Chapter 19 (Fin Man); Chapter 4 (Man) Cost B
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 10ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Comple
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 9ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 8ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 7ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY52%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 6ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 5ANote: Each of the 25 correct answers is assigned a weight of 4%.AForFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60% INSTRUCTIONS: Complete each of the fol
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 4ANOTE: Each of the 25 correct answers is assigned a weight of 4%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 3ANOTE: Each of the 40 correct answers is assigned a weight of 2%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 2ANOTE: Each of the 40 correct answers is assigned a weight of 2%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60%TEST 17A (Concluded)INSTRUCTIONS: Complet
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapter Test 1ANOTE: Each of the 40 correct answers is assigned a weight of 2%.AFILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY60% INSTRUCTIONS: Complete each of the followi
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 14TEST 14A Fill-in-the-Blank Principles and Terminology Statement Analysis 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. \$3.33 \$750,000 2.07 not be affected grocery store jewelry store common-size solvency quick ass
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 13 TEST 13A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. direct method indirect method indirect, operating activities direct, operating activities both, investing
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 12TEST 12A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. just-in-time a decrease nonvalue-added lead time pull manufacturing made to stock6. agree 7. agree 8. disagree 9. disagree 10.within-batch waiting t
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 11TEST 11A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. different plant-wide allocation base single plant-wide rate method multiple production department rate method activity-based costing method6. 7. 8.
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 10TEST 10A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. net present value method internal rate of return (IRR) method present value index average rate of return method annuity6. 7. 8. 9. 10. 11. 12. 13. 1
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 9TEST 9A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. differential analysis differential revenues sunk costs product variable costs productive capacity differential income7. 8. 9. 10. 11. 12. 13. 14. 1
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 8TEST 8A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. centralized responsibility center profit centers more controllable6. 7. 8. 9. 10. 11. 12. 13. 14.service department charges income from operations in
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 7TEST 7A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. standard cost system theoretical (ideal) standards production managers currently attainable (normal) standards budgetary performance evaluation revi
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 6TEST 6A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. planning directing controlling feedback5. 6. 7. 8. 9. 10. 11. 12.responsibility center flexible budget budgetary slack static budgeting master budget di
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 5TEST 5A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. direct costing absorption costing contribution margin manufacturing margin gross profit absorption costing7. 8. 9. 10. 11. 12. 13. 14. 15.absorpti
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 4TEST 4A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. variable activity base variable mixed variable cost per unit increase7. 8. 9. 10. 11. 12. 13. 14. 15.increase contribution margin ratio (or profit
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 3TEST 3A Fill-in-the-Blank Principles and Terminology 1. job order 2. process 3. job order 4. process 5. process 6. equivalent units of production 7. conversion costs 8. \$80.00 9. \$55.55 10. cost of production report 11.
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 2TEST 2A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. job order cost finished goods inventory direct materials direct labor factory overhead cost accounting7. 8. 9. 10. 11. 12. 13. 14. 15. 16.job orde
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSCHAPTER 1TEST 1A Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. staff department historical estimated staff line direct7. 8. 9. 10. 11. 12. 13. 14. 15. 16.indirect planning direct materials direct labor factory
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapters 1112NOTE: Each of the 40 correct answers is assigned a weight of 2 1/2%.FILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY62 1/2% INSTRUCTIONS: Complete each of the fol
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapters 910NOTE: Each of the 40 correct answers is assigned a weight of 2 %.FILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY50%Section Test4TEST 8 (Continued)INSTRUCTIONS
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapters 78Section Test 3FILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY52%TEST 10 (Continued)INSTRUCTIONS: Complete each of the following statements by writing the appropr
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapters 46Note: Each of the 40 correct answers is assigned a weight of 2%.Section Test 2FILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY75% INSTRUCTIONS: Complete each of th
City - ACCT - 116B
10th EditionMANAGERIAL ACCOUNTINGWarren/Reeve/DuchacScore Name Course% SectionChapters 13NOTE: Each of the 40 correct answers is assigned a weight of 2 %.FILL-IN-THE-BLANKPRINCIPLES AND TERMINOLOGY50%Section Test1INSTRUCTIONS: Complete each of t
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSTEST 5 (Chapters 1112)Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. single rate simple (inexpensive) the same way a different yes yes no n
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSTEST 4 (Chapters 910)Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. 7. differential costs sunk costs differential revenue total cost concept product cost concept variable cost concept bottleneck8. 9. 10. 11. 12.
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSTEST 3 (Chapters 78)Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. 7. standard cost systems theoretical (ideal) standards principle of exceptions variance true currently attainable (normal standards) direct labor
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSSECTION TEST 2 (Chapters 46)1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30.Fill-in-the-Blank Principles and Terminology activity base relevant range variable costs
City - ACCT - 116B
ACHIEVEMENT TEST SOLUTIONSTEST 1 (Chapters 13)Fill-in-the-Blank Principles and Terminology 1. 2. 3. 4. 5. 6. 7. organization chart line planning directing controlling improving decision making8. 9. 10. 11. 12. 13. 14. 15. 16. 17.process direct material
City - ACCT - 116B
CHAPTER 13 ANALYZING AND INTERPRETING FINANCIAL STATEMENTSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. DL Easy Easy Easy Med M
City - ACCT - 116B
CHAPTER 12 REPORTING AND ANALYZING CASH FLOWSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. DL Easy Easy Med Med Med Hard Easy Med Hard Hard Eas
City - ACCT - 116B
CHAPTER 11 REPORTING AND ANALYZING EQUITYSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. DL Easy Easy Eas
City - ACCT - 116B
CHAPTER 10 LONG-TERM LIABILITIESSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. DL Easy Easy Hard Hard Hard Hard Easy Eas
City - ACCT - 116B
CHAPTER 9 GRIDS REPORTING AND ANALYZING CURRENT LIABILITIESSummary of Questions by Difficulty Level (DL) and Learning Objective (LO) True/False Item DL LO Item DL LO Item DL LO 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. Easy Easy
City - ACCT - 116B
CHAPTER 8 GRIDS REPORTING AND ANALYZING LONG TERM ASSETSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. DL Easy Med Med Hard Easy Med
City - ACCT - 116B
CHAPTER 7 GRIDS REPORTING AND ANALYZING RECEIVABLESSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. DL Easy Easy Med Med Med Med Hard Hard Easy Ea
City - ACCT - 116B
CHAPTER 6 GRIDS REPORTING AND ANALYZING CASH AND INTERNAL CONTROLSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27.
City - ACCT - 116B
CHAPTER 5 GRIDS REPORTING AND ANALYZING INVENTORIESSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. DL Easy Easy Med Med Hard Hard Eas
City - ACCT - 116B
CHAPTER 4 GRIDS REPORTING AND ANALYZING MERCHANDISING OPERATIONSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. DL Easy E
City - ACCT - 116B
CHAPTER 3 GRIDS ADJUSTING ACCOUNTS AND PREPARING FINANCIAL STATEMENTSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. DL E
City - ACCT - 116B
CHAPTER 2 GRIDS ANALYZING AND RECORDING BUSINESS TRANSACTIONSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. DL Easy Easy Easy Easy Easy Easy
City - ACCT - 116B
CHAPTER 1 GRIDS INTRODUCING FINANCIAL ACCOUNTINGSummary of Questions by Difficulty Level (DL) and Learning Objective (LO)True/FalseItem 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 3
City - ACCT - 116B
APPENDIX E GRIDS REPORTING AND PREPARING SPECIAL JOURNALSSummary of Questions by Difficulty Level (DL) and Learning Objective (LO) True/False Item DL LO Item DL LO Item DL LO 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. Easy Easy Med Me