Sectional_Exam_2_209A_Version_A_Answers

Sectional_Exam_2_209A_Version_A_Answers - Student Name: _...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Student Name: __________________________________ Student ID #: __________________ BUS 209 A OR: My section meets on ____________ at _______ am/pm Spring 2009, AUBG Today’s date: April 6 th 2009 SECTIONAL EXAM N. 2 (Chapter 21 - LO 4,5,6,7 to Chapter 24) VERSION A 1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Part I: Definitions. Match the following definitions with the appropriate letter. Write legibly. Input your answers here. (12 points; 1 point each) ___ Budgeted balance sheet ___ Regression analysis ___ Queue time ___ Scatter diagram ___ Pro forma financial statements ___ Normal capacity ___ Inspection time ___ Backflush costing ___ Throughput time ___ Work cell ___ Conversion costs ___ Sales mix a. Financial statements that show prjections rather than actual results and that are often used to communicate business plans to external parties. b. A statement that projects an organization’s financial position at the end of an accounting period. c. A mathematical approach to separating a mixed cost into its variable and fixed components. d. The proportion of each product’s unit sales relative to the organization’s total unit sales. e. The average annual level of operating capacity needed to meet expected sales demand. f. The time it takes to move a product through the entire production process. g. The time a product spends waiting to be worked on once it enters a new operation or department. h. An autonomous production line that can perform all required operations efficiently and continuously. i. The combined total costs of direct labor and manufacturing overhead. j. The time spent looking for product flaws or reworking defective units. k. A product costing approach in which all product costs are first accumulated in the COGS account and at the end of the period are “flushed back,” or worked backward, into the appropriate inventory accounts. l. A chart of plotted points that helps determine whether a linear relationship exists between a cost item and its related activity measure. 2
Background image of page 2
Part II: True or False? Input your answers as “A” for true or “B” for false on the answer sheet. (18 points; 2 points each) 1. In many instances, direct materials are added at the beginning of the process. a) True b) False 2. The amount of equivalent units of production for direct materials is always the same as that for conversion costs. a) True b) False 3. A supply chain is a related sequence of value-creating activities within an organization. a) True b) False 4. In a just-in-time environment, a manager is interested in trends in inventory turnover. a) True b) False 5. Unit fixed costs vary inversely (negative slope) with activity or volume. a) True b) False 6. Service businesses do not have any direct materials nor overhead costs. a) True
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/14/2009 for the course BUSINESS bus 203c taught by Professor Milankas. during the Spring '09 term at American University in Bulgaria.

Page1 / 10

Sectional_Exam_2_209A_Version_A_Answers - Student Name: _...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online