Examination1

Examination1 - Instructor Score on Part 1 Score on Part 2...

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Instructor Name Score on Part 1 NAU ID# Score on Part 2 Total Score ACCOUNTING 256 MANAGEMENT ACCOUNTING FALL SEMESTER, 2008 EXAMINATION #1 VERSION 01 INSTRUCTIONS: 1. Be sure to enter the following information on your computer answer sheet by filling in bubbles and letters where appropriate: Name NAU ID Number Section Number Version Number Answers to all multiple-choice questions 2. Enter your name and NAU ID number on the top of this page. 3. Please circle your answers to the multiple-choice questions on the exam in pencil as well as filling in the bubbles on the computer answer sheet. This helps you as you are reviewing the exam. Grading of the multiple-choice questions will be based exclusively on your computer answer sheet. Failure to make clean erasures may be scored as incorrect answers - so make sure you erase completely. 4. Do not tear this exam apart. 5. You will not be allowed to leave the room and come back once you have begun the exam. 6. Make sure your exam contains 12 pages (including this page). 7. Please take caps with bills off or turn them backwards. 8. If an assumption is required, make a logical and reasonable assumption. 9. Round all computations to the nearest cent (i.e., two decimal places). Clearly show and label your work on all problems. No partial credit can be awarded if your work is not legible.
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PART 1 – MULTIPLE-CHOICE (90 total points) For each of the following questions choose the BEST possible answer. Each question is worth 3 points. 1. Which of the following would be classified as an internal failure cost on a quality cost report? a. Systems development. b. Returns and allowances arising from quality problems. c. Cost of scrap. d. Final product testing and inspection. 2. If manufacturing overhead is underapplied, then before closing to COGS: a. operating income will be over stated. b. operating income will be under stated. c. cost of goods sold will be over stated. d. Work in process inventory will be overstated. 3. An increase in appraisal costs in a quality improvement program would usually have the following initial effects on external failure costs: a. Increase b . Decrease c. Neither increase nor decrease d . Cannot be determined 4. Organization-sustaining activities are carried out regardless of how many units are made, how many batches are run, or how many different products are made. a. True. b. False. 5. Which of the following would be an appropriate cost driver for the costs associated with ordering raw materials for a manufacturing firm? a. Number of inspections completed. b. Number of purchase orders. c. Number of different types of parts maintained in inventory. d. Number of different types of products produced. 6.
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Examination1 - Instructor Score on Part 1 Score on Part 2...

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