Test Bank for Managerial Accounting, Third Edition
Achievement Test 6: Chapters 11-12
Managerial Accounting, 3e
Weygandt, Kieso, & Kimmel
Section # _ Date _
IGNORE QUESTIONS ABOUT VARIABLE OR FIXED OVERHEAD VARIANCES
Job Order Costing Sample Multiple Choice and Problems
Assuming that there was no beginning work in process inventory,
and the ending work in process inventory is 50% complete with
respect to conversion costs, the num
C HAPTER 12
MULTIPLE CHOICE QUESTIONS
The capital budget for the year is approved by a company's
a. board of directors.
b. capital budgeting committee.
All of the following are involved in the capital budgeting evalua
Chapter 10Performance Evaluation, Variable Costing, and Decentralization
45. A responsibility center in which a manager is responsible only for sales is a(n)
a. cost center.
b. revenue center.
c. profit center.
d. investment center.
e. center not presente
The Capital Budgeting Evaluation Process
Corporate capital budget authorization process:
Proposals are screened by a capital budget committee.
Officers determine which projects are worthy of funding.
Proposals for projects
The Need for Standards
Distinguishing between Standards and Budgets
Both standards and budgets are predetermined costs, and
both contribute to management planning and control.
There is a difference:
A standard is a unit amount.
The use of budgets in controlling operations is known as
Provides management with feedback on operations.
Budget reports can be prepared as frequently as needed.
Takes place by means of budget repo
Preview of Chapter 9
Budget: a formal written statement of managements plans
for a specified future time period, expressed in financial terms.
Primary way to communicate agreed-upon objectives to all