In SWOT analysis, strengths and weaknesses are most easily identified by looking:
A. At the firm as a potential customer.
B. Inside the firm at its specific resources.
C. At the firm's competition.
D. At the firm's product.
E. Outside the
Since indirect cost cannot be conveniently or economically traced directly to a cost pool or cost object,
the management accountant will:
A. Assign them by means of cost allocation.
B. Assign them where needed.
C. Assign them randomly to
The major limitation of volume-based costing systems is the use of volume-based:
Volume-based rates produce inaccurate product cost when:
A. A large share of factory o
1. The objectives of cost allocation are to:
A. Motivate, provide incentives, and determine fair rewards.
B. Accurately define, divide and spread direct costs.
C. Value, measure, and interpret cost data.
D. Connect, communicate, and discern
The contribution income statement would require a firm to:
A. Separate costs into fixed and variable categories.
B. Separate revenue into different categories.
C. Round off amounts to the nearest dollar.
D. Ignore some estimated fixed exp
Which one of the following uses the number of units of an input factor in its assessment of productivity?
A. Partial financial productivity.
B. Total productivity.
C. Operational productivity.
D. Partial productivity.
Which one of the
Product costing provides useful cost information for all the following except:
A. Both manufacturing and non-manufacturing firms.
B. For non-manufacturing firms.
C. Management planning, cost control, and performance evaluation
Questions 14-1 through 14-12
14-1: What is the difference between a master budget, pro-forma budgets, and a flexible budget?
14-1: A master budget represents forecasted operating profit based on a single output level (planned sales) for an
Under the notion of controllability, it is most appropriate for top management to evaluate the profitability
of an investment center in terms of:
A. Profits in relation to the amount of capital invested in the unit.
B. Returns expressed a
By convention, short-term financial control is accomplished by all the following except:
A. Comparing actual to budgeted financial results.
B. Calculating a series of cost and revenue variances at the end of the period.
C. The use of flex
The Taguchi Quality Loss Function (QLF) demonstrates that as the quality measure of a product declines,
the loss due to quality defects:
A. Increases as a quadratic function.
B. Increases as a linear function.
C. Increases as an exponenti
Especially for projects with long lives, estimation of revenues (or benefits), costs, and cash flows of a
capital investment project is a difficult task principally because of:
A. The lack of good data.
B. Uncertainty about future events.
Which of the following does not represent a main focus of cost management information?
A. Strategic management.
B. Performance measurement.
C. Planning and decision making.
D. Preparation of financial statements.
E. Internal audit and con
Firms should use a process costing system when they produce products that:
A. Are semi-homogeneous.
B. Pass through a series of inspection points.
C. Pass through a series of manufacturing departments.
D. Have a small batch size.
Which of the four types of cost drivers-activity-based, volume-based, structural and executional-are often
best related to linear cost estimation methods?
A. Activity-based only.
B. Activity-based and volume-based.
C. Structural and volum
Cost behavior for variable overhead is more difficult to predict than for direct material or direct labor cost
for all the following reasons except:
A. Multiple cost drivers are involved with variable overhead.
B. Direct material and dire
e first payment on December 31, 2000.
e first payment on January 1, 2000, the date the contract was signed.
45 percent income tax bracket, calculate your answer for requirement 1.
mber 31, 2012 @ 6% annual return =
What is Micro Ad
The master budget for a given accounting period has all the following except:
A. It consists of a series of operating and financial budgets.
B. It is considered the "grand plan of action" for the upcoming period.
C. It culminates in a set
A bonus usually differs from a salary in terms of:
A. Amount and timing.
B. Base, timing, and financial statement effect.
C. Tax implications.
D. Motivation effects.
E. Base, pool, and payment terms.
Of the three basic forms of managem
1. Assuming Martens plans to meet the expected demand for 20,000 attic fans, how many should it manufacture and how many should it
purchase from Harris Products? Explain your reasoning with calculations.
2. Idenpendent of Part 1 above, assume that Beth Jo
1. Calculate the number of tons completed and transferred out during the month.
2. Calculate the number of equivalent units for both materials and conversion costs for the
month of May, assuming that the company uses the weighted-average method.
A cost is not relevant for decision making if it:
A. Does not differ for each option available to the decision maker.
B. Changes from period to period.
C. Is a future cost.
D. Is a mixed cost.
E. Is a fixed cost.
Variable costs will ge
Calculate the operating leverage for each company. If sales increase, which company benefits more? How do you know?
If sales increase, company B will benefit more. Company B has a higher proportion of fixed costs in
Many firms choose to achieve target cost through redesign of the product or service because they
recognize that design decisions:
A. Are life cycle costs with high downstream costs and benefits.
B. Account for much of the total product li
51 Undercosting a product increases the profit from the product and benefits
the firm. Do you agree? Why?
Undercosting a product may appear to have increased the reported profit the product earned
(assuming the firm did not lower its selling price because
1. Service and administrative costs are costs that are incurred by
headquarters' staffs or other central units. In order to maintain the
company as a functioning entity, administrative costs are incurred for the
benefit of all units of the company. Servic
1. Calculate the budgeted total cash receipts for November and December.
2. Calculate budgeted cash payments for November and December.
Budgeted sales for January of the coming year =
1. Budgeted Cash Receipts:
Performance evaluation in most firms is applied at:
A. Many different levels from top management down to individual production and sales employees.
B. All levels of production, but only top levels of sales.
C. Top and mid-management level
August 27th, 2014
The Importance of Strategy
Michael Porter defines strategy as the creation of a unique and valuable position,
involving a different set of activities. (Porter 8). In the article What Is
Dear Mr. Client,
It has come to my attention that you are interested in purchasing stock in the
United States market. For your stoc
1. When he received those 1099forms and could clearly see that they was
altered he shouldve have contacted the necessary people. Discovering that
Forte was in control of the brokerage and banking accounts should have
really made him thin
NAME: _Jermaine Perry_
Place the answers and answer sheet, only, in the D2L DROPBOX. Not the entire exam,
please. I will be printing these out, and only want to print one page. If you put the entire
exam in the D2L DROPBOX, I will have to pr