1. Which of the following is an example of value- added time? a. Processing time b. Wait time during inspection c. Wait time in inventory d. Both B and C ANS: A DIF: 1 OBJ: 01
2. Long lead times are the result of: a. long setup times b. large batch sizes
Exam #1 (Chapter 1, 2, 3, 4)
1. A diagram of the operating structure of an organization is called an organization chart.
a. TRUE
2. A staff department or unit is one that provides services, assistance, and advice to the
departments with line or other staf
Study Guide for BUSA 8
Emily Phan
Chapter 1 Managerial Accounting Concepts and Principles
Managerial accounting
o Designed to meet the specific needs of a companys management and includes historical data, which
provide objective measures of past operation
Emily Phan
BUSA 8
Study Guide for Exam #2
Chapter 5 Variable Costing for Management Analysis
Absorption costing
o Required under GAAP for financial statements for external users
o Cost of goods manufactured Direct materials, direct labor, and factory over
EX 2, 3, 7, 9, 10, 14
Emily Phan
BUSA 8
3/3/14
Chapter 2
EX 2-2
a.
Sales
Less gross profit
Cost of goods sold
b.
Materials purchased
Less: Indirect materials
Materials inventory
Direct materials cost
c.
1,680,000
450,000
1,230,000
850,000
65,000
63,000
To
EX 6, 8, 9, 11, 22
EX 4-6
Components produced
Total costs:
Total variable costs
Total fixed costs
Total costs
Cost per unit:
Variable cost per unit
Fixed cost per unit
Total cost per unit
Emily Phan
BUSA 8
3/12/14
Chapter 4
a.
b.
c.
300,000
360,000
75,000
* We aren't endorsed by this school
