test1.review - BA 213 Test#1 Review Instructor Usha...

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BA 213 - Test#1 Review Instructor: Usha Ramanujam 1. Pizza World makes forty-three kinds of pizza for takeout and delivery. Which of the following could be the constraint at Pizza World? A) the person who makes the pizza crust. B) the person who puts toppings on the pizzas. C) the pizza oven. D) any of the above could be the constraint. 2. The Standards of Ethical Conduct for Management Accountants developed by the Institute of Management Accountants contain a policy regarding confidentiality that requires management accountants to refrain from disclosing confidential information acquired in the course of their work: A) except when authorized by management. B) in all situations. C) except when authorized by management, unless legally obligated to do so . D) in all cases not prohibited by law. 3. The Institute of Management Accountants (IMA) has developed ethical standards for management accountants. What four categories has the IMA classified these standards into? A) Reliability, Objectivity, Commitment, and Competence B) Objectivity, Integrity, Commitment, and Confidentiality C) Observation, Integrity, Closure, and Competence D) Competence, Objectivity, Integrity, and Confidentiality E) Reliability, Understandability, Flexibility, and Integrity 4. Prime cost and conversion cost share what common element of total cost? A) Direct materials. B) Direct labor. C) Variable overhead. D) Fixed overhead. 5. Wages paid to a timekeeper in a factory are a: Prime cost Conversion cost A) Yes No B) Yes Yes C) No No D) No Yes 1
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The nursing station on the fourth floor of Central Hospital is responsible for the care of patients who have undergone orthopedic surgery. The costs of drugs administered by the nursing station to patients would be classified as: A) direct costs of the patients . B) indirect costs of the patients. C) overhead costs of the nursing station. D) period costs of the hospital. Number of Units Produced Unit Cost Total Cost Cost A 1 ? $10 10 ? $100 100 ? $1,000 1,000 ? $10,000 Cost B 1 $5,000 ? 10 $500 ? 100 $50 ? 1,000 $5 ? Which of the above best describes the behavior of Costs A and B? A) Cost A is fixed, Cost B is variable. B) Cost A is variable, Cost B is fixed. C) Both Cost A and Cost B are variable. D) Both Cost A and Cost B are fixed. 7. John Johnson decided to leave his former job where he earned $12 per hour to go to a new job where he will earn $13 per hour. In the decision process, the former wage of $12 per hour would be classified as a(n): A) sunk cost. B) direct cost. C) fixed cost. D) opportunity cost. 2
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test1.review - BA 213 Test#1 Review Instructor Usha...

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