ACC 3020: Introduction to Managerial Accounting
Common Final Exam Fall 2015
Exam Profile/Study Sheet
The exam is scheduled for FRIDAY, DECEMBER 18 at 6PM in the LOWER DeRoy Auditorium.
The exam is composed of sixty questions from Chapters 12 and 14 24. Th
Final Exam: Chapters 14-24
Kimmel Accounting, 5e
Section # _ Date _
PART I MULTIPLE CHOICE (54 points)
Instructions: Designate the best answer for each of the following questions.
Project #1 Instructions
This project, together with the follow-up Project No. 2, is designed to reinforce the concepts of cost
accounting and gross profit that are presented in ACC 3020 and to help refine you
ACC 3020 - Fall 2016
Excel Case #3 - Budgetary Control
Enter your WSU Access ID below.
Consider the following information from Grantham Company, then see the instructions that
Grantham Company manufactures dog whistles. The following in
Administrative constraints can be
ignored when they are non-existent
or not compelling. Administrative
constraints tend to become more
compelling the older an
organization gets. So
Ch.13 Lecture Notes: Implementing Strategy in Companies that Compete Across Industries and
Always keep in mind that the handoffs between the value chain activities of the various business
units of a multi-industry organization
Name: Samantha Himmelspach
Course: Managerial Accounting
P10-1A Prepare flexible budget and budget report for manufacturing overhead
Managerial Accounting, 6th Edition, by Weygandt, Kieso, and Kimmel
Primer on Using Microsoft Excel in Acc
2. A variable cost remains the same per unit at every level of activity.
What type of cost remains the same per unit at every level of activity?
MacCloud Industries has two divisionsStandard and Premium. Each division has
hundreds of differe
Name of Corporation
For the Month Ended March 31,2017
Less: Sales returns
Cost of goods sold
Mike Ilitch School of Business
ACC3020: Introduction to Managerial Accounting Winter 2017
Thaddeus Nowak MBA, CPA, CISA
128 Rends House Annex, Main Campus
Telephone (VM): 313-577-9858
. A manufacturing company usually has three inventory accounts which are
(1)_, (9—, and (3)
. Reports prepared in ﬁnancial accounting are general-purpose reports, whereas reports
prepared in managerial accounting are usually special—purpose re
Businesses are typically made up of three types:
RM, WIP, FG/CoGS
Like Best Buy
Like a Lawyer
(really unbilled work in process and cost of
Chapter 14 covers costs for a ma
Two Types of Costing
Example: Paint, pencils, hammers, etc.
Job Order Costing
Products that are different from one
Custom built homes
DO IT! 18-1
Indirect labor, direct labor, and direct materials.
Property taxes and depreciation.
Utilities and maintenance.
DO IT! 18-2
($18,580 $16,200) (10,500 8,800) = $1.40 per u
Units transferred out
Work in process, July 31
3,000 X 100%
3,000 X 60%
Total equivalent units
Materials:$45,000 15,000 = $3.00
Conversion costs:($16,200 + $1
Work in Process Inventory.
Raw Materials Inventory.
Work in Process Inventory.
Work in Process Inventory
($12,500 X 60%
Preview of Chapter 19
CVP analysis is:
The study of the effects of changes in costs and volume on a companys
Important to profit planning.
Critical in management decisions s
False. Financial accounting focuses on providing information to external users.
False. Preparation of budgets is part of managerial accounting.
False. Managerial accounting applies to service, mer
After studying this chapter, you should be able to:
Identify the steps in managements decision-making process.
Describe the concept of incremental analysis.
Identify the relevant costs in accepting an