2 the control function includes a implementing the

2 The control function includes:
a) Implementing the planning decisions;
b) Selecting organization goals;
c) Deciding how to attain the desired results;
d) Preparing budgets;
Number Answer Number Answer Number Answer
01. d 06. c 11. d
02. a 07. d 12. c
03. b 08. a 13. d
04. c 09. a 14. c
05. c 10. a 15. c
3 The Institute of Management Accountants’ Standards of Ethical Conduct for Management
Accountants includes standards on:
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Haigazian University
Faculty of Business Administration & Economics
ACC 213 - Cost & Managerial Accounting
Exam I - Summer 2010-2011
Date - 22 July 2011; Time - 7:30 to 8:45; Duration:75 minutes;
Location - Mehagian 206;
4 Butler Co.'s production costs for July are
Direct materials - $120,000
Direct labor - $108,000
Factory overhead - $6,000
What is the amount of costs traceable to specific products?
5 Inventoriable costs:
6 If the beginning monthly balance of materials inventory was $37,000, the ending balance was
$39,500 and $257,800 of materials were used, the cost of materials purchased during the month
was:
a) $297,300
b) $255,300
c) $260,300
d) $257,800
37K + P -39,500 = 257,800; P = 260,300
7 Direct labor costs are wages paid to:
8 Which of the following is not an assumption of cost-volume-profit analysis?
Page 3/13

Haigazian University
Faculty of Business Administration & Economics
ACC 213 - Cost & Managerial Accounting
Exam I - Summer 2010-2011
Date - 22 July 2011; Time - 7:30 to 8:45; Duration:75 minutes;
Location - Mehagian 206;
c. The behavior of revenues and expenses is accurately portrayed as linear over the relevant
range.
d. The number of output units is the only driver.