Review problem for Exam 1: (From the text, pg. 133)
After the success of the company's first two months, Adria Lopez continues to operate Success
Systems.) The November 30, 2013, unadjusted trial balance of Success Systems (reflecting its
What is Operations ManagementWhat is Operations
Management dead code? /dead code requirement description end
Financial AccountingFinancial Accounting dead code?
/dead code requirement description end
Business ApplicationsBusiness Appl
Sales budget- an overall budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. The act of preparing a budget is
called budgeting. The use of budgets to control an
Quiz # 10
1. The capital budgeting method that divides a project's annual incremental net operating
income by the initial investment is the:
A. internal rate of return method.
B. the simple rate of return method.
C. the payback method.
Quiz # 8
1. Return on investment (ROI) is equal to the margin multiplied by:
C. average operating assets.
D. residual income.
2. A segment of a business responsible for both revenues and expenses would be called:
Quiz # 11
1. Earnings per share of common stock will immediately increase as a result of:
A. the sale of additional shares of common stock by the company.
B. an increase in the dividends paid to common stockholders by the company.
C. an inc
Quiz # 9
1. Which of the following costs are always irrelevant in decision making?
A. avoidable costs
B. sunk costs
C. opportunity costs
D. fixed costs
2. The opportunity cost of making a component part in a factory with excess capacity for
Quiz # 12
1. Demand for a product is said to be elastic if a change in price has:
A. no effect on the volume of units sold.
B. substantial effect on the volume of units sold.
C. little effect on the volume of units sold.
D. little effect on
Exercise 5-5 (20 minutes)
1. The companys variable cost per unit is:
=$6 per unit.
In accordance with the behavior of variable and fixed costs, the
completed schedule is:
Units produced and sold
30,000 40,000 50,000
Quiz # 4
1. When the level of activity increases within the relevant range, how does each of the
2. . An example of a discretionary fixed cost is:
B. taxes on real estate.
C. management training.
Quiz # 3
1. Purchase order processing is an example of a:
A. Unit-level activity.
B. Batch-level activity.
C. Product-level activity.
D. Facility-level activity.
2. . Property taxes and insurance are examples of costs that would be consider
Exercise 3-6 (30 minutes)
1. Entry (a) is the amount of actual manufacturing overhead cost
incurred during the year. Debits to Manufacturing Overhead
represent actual overhead costs incurred and credits represent
overhead applied to products.
2. The activ
Quiz # 2
1. Managerial accounting:
A. has its primary emphasis on the future.
B. is required by regulatory bodies such as the SEC.
C. focuses on the organization as a whole, rather than on the organization's segments.
D. Responses a, b, and
1.Which of the following persons would occupy a line position in a department store?
I. Sales manager
II. Manager, furniture department
III. Manager, advertising department
IV. Manager, personnel department
A. Only I
B. Only I and I
Review for Mid-Term Exam
Dr. Jo Ann Pinto
IMA Statement of Ethics
Ethics in Business homework problem
Managerial vs. Financial Accounting