Quiz 3- solution

Quiz 3- solution - [ACCT3104] MANAGERIAL COSTING AND...

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Unformatted text preview: [ACCT3104] MANAGERIAL COSTING AND CONTROL (ST LUCIA AND IPSWICH). SEMESTER 2, 2008 (ACCT3104S_5860IPX) > TOOLS > MY GRADES > VIEW ATTEMPTS > REVIEW ASSESSMENT: QUIZ 1 12TH EDN Review Assessment: quiz 1 12th edn User Hwee Kee Tan Submitted 8/28/08 2:05 AM Name quiz 1 12th edn Status Completed Score 25 out of 30 points Time Elapsed 1 hours, 1 minutes, and 29 seconds out of 1 hours and 5 minutes allowed. Instructions Question 1 0 out of 1 points The FIRST step to successful balanced scorecard implementation is clarifying the: Selected Answer: objectives of all four balanced scorecard measurement perspectives Question 2 1 out of 1 points Surveys of employee satisfaction is an example of a balanced-scorecard measure of the: Selected Answer: learning and growth perspective Question 3 1 out of 1 points Which of the following is NOT true of the balanced scorecard? Selected Answer: Only objective measures should be used and subjective measures should be avoided. Question 4 1 out of 1 points Answer the following questions using the information below: Bugos Company makes a household appliance with model number XX300. The goal for 20X4 is to reduce direct materials usage per unit. No defective units are currently produced. Manufacturing conversion costs depend on production capacity defined in terms of XX300 units that can be produced. The industry market size for appliances increased 5% from 20X3 to 20X4. The following additional data are available for 20X3 and 20X4: 20X320X4 Units of XX300 produced and sold 10,000 10,500 Selling price $100 $95 Direct materials (square feet) 30,000 29,000 Direct material costs per square foot $10 $11 Manufacturing capacity for XX300 (units) 12,500 12,000 Total conversion costs $250,000 $240,000 Conversion costs per unit of capacity $20 $20 Which strategy is Bugos Corporation pursuing? Selected Answer: Cost leadership, because the selling price decreased. Question 5 1 out of 1 points An operating income analysis of Sara McCullough Incorporated revealed the following: Operating income for 2005 $500,000 Add growth component 25,000 Deduct price-recovery component (15,000) Add productivity component 60,000 Operating income for 2006 $570,000 McCullough's operating income gain is consistent with the: Selected Answer: cost leadership strategy Question 6 1 out of 1 points Which of the following is NOT true of a good balanced scorecard? Selected Answer: It identifies all measures, whether significant or small, that help to implement strategy. Question 7 1 out of 1 points Answer the following questions using the information below: Following a strategy of product differentiation, Lucas Company makes a high- end Appliance, AP15. Lucas Company presents the following data for the years 20X3 and 20X4: 20X320X4 Units of AP15 produced and sold 20,000 21,000 Selling price $200 $220 Direct materials (square feet) 60,000 61,500 Direct materials costs per square foot $20 $22 Manufacturing capacity in units of AP15 25,000 25,000 Total conversion costs $1,000,000 $1,100,000...
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Quiz 3- solution - [ACCT3104] MANAGERIAL COSTING AND...

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