Exam%201%20Practice[1] - ACG 3341 Sample Exam 1 Managers...

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ACG 3341 Sample Exam 1) Managers use management accounting information to ________ strategy. A) choose B) communicate C) implement D) All of these answers are correct. 2) Which of the following descriptors refers to management accounting information? A) It is verifiable and reliable. B) It is driven by rules. C) It is prepared for shareholders. D) It provides reasonable and timely estimates. 3) Actual costs are: A) the costs incurred B) budgeted costs C) estimated costs D) forecasted costs 4) The collection of accounting data in some organized way is: A) cost accumulation B) cost assignment C) cost tracing D) conversion costing 5) Cost assignment is: A) always arbitrary B) includes tracing and allocating C) the same as cost accumulation D) finding the difference between budgeted and actual costs 6) Which one of the following items is a direct cost? A) Customer-service costs of a multiproduct firm; Product A is the cost object. B) Printing costs incurred for payroll check processing; payroll check processing is the cost object. C) The salary of a maintenance supervisor in a multiproduct manufacturing plant; Product B is the cost object. D) Utility costs of the administrative offices; the accounting department is the cost object. Page 1 of 6
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ACG 3341 Sample Exam 7) Which of the following statements regarding manufacturing overhead allocation is FALSE? A) It includes all manufacturing costs that cannot be directly traced to a product or service. B) The costs can be grouped in either a single indirect-cost pool or in multiple indirect-cost pools. C) Total costs are unknown at the end of the accounting period.
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This note was uploaded on 10/25/2011 for the course ACG 3341 taught by Professor Jomosankara during the Spring '09 term at FAU.

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Exam%201%20Practice[1] - ACG 3341 Sample Exam 1 Managers...

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