The price elasticity of demand coefficient measures:
buyer responsiveness to price changes.
the extent to which a demand curve shifts as incomes change.
the slope of the demand curve.
how far business executives can stretch their fixed costs.
The demand f
Ch 7 Acct206 F 2012 Sample Exam Questions # 37 i.e. 21- 57
21. Daniele Corporation uses an activity-based costing system with the following three activity
The Other activity cost pool is used to accumulate costs of idle capacity and organizati
18.?Managerial accounting:? a
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 c are all correct.
Sample Exam Questions
Managerial Accounting and Cost Concepts
39. Buford Company rents out a small unused portion of its factory to another company for
$1,000 per month. The rental agreement will expire next month, and rather than renew the
31.?A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:?
What is the absorption costing unit product cost for the month? a
Ch 5 Sample 2nd MT Exam Questions Acct 206 F2012
30. Brabo Corporation uses direct labor-hours in its predetermined overhead rate. At the
beginning of the year, the estimated direct labor-hours were 15,700 hours. At the end of the year,
actual direct labo
30.?Brabo Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 15,700 hours. At the end of the year, actual direct labor-hours for the year were 16,700 hours, the actua
Chapter 04 - Cost-Volume-Profit Relationships
True / False Questions
1. A contribution approach income statement can usually be easily prepared from the
information contained in a corporation's published income
Chapter 03 Sample MT Exam questions
Cost Behavior: Analysis and Use
28. Iacopi Corporation is a wholesaler that sells a single product. Management has provided
the following cost data for two levels of monthly sales volume. The company sells th
Ch 6 Noreen Sample Exam Questions F2012 Acct206 2nd MT
31. A manufacturing company that produces a single product has provided the following data
concerning its most recent month of operations:
What is the absorption costing unit product cost for the mont
21.Daniele Corporation uses an activity-based costing system with the following three activity cost pools:
The activity rate for the Fabrication activity cost pool is closest to:? b
A.$3.72 per machine-hour
B.$4.44 per machine-hour
C.$7.44 per machine-hou
Economic cost can best be defined as:
any contractual obligation that results in a flow of money expenditures from an enterprise to
any contractual obligation to labor or material suppliers.
payments that must be received by resource o
Markets, viewed from the perspective of the supply and demand model:
assume many buyers and many sellers of a standardized product.
assume market power so that buyers and sellers bargain with one another.
do not exist in the real-world economy.
: extension of minimal art, site specification
: Land art is an movement in which landscape and the work of art are inextricably linked. It is also an art form that is created in nature, using natural materials
: (minimal art) ' . . .
: . .
- Abstract expressionism
:Medium specificity, Optical experience, disembody (), self reflective
:In general, Abstract expressionism is from the concept, which is from painters idea, memory, or imagination. Also, there is no subject to draw the painting.
Complete the following three exercises. Be sure to show your work for calculations to earn full credit.
Sales and Production Budgets (8-12): The marketing department of Jessi Corporation has submitted the following sales forecast for
the upcoming fiscal y
NOREEN MANAGERIAL ACCOUNTING FOR MANAGERS 2E
Practice Exam Chapter 11
Print these pages. Answer each of the following questions, explaining your answers or
showing your work, as appropriate, and then compare your solutions to those provided at the
15.?Which of the following is an assumption that is NOT made in most cost-volume-profit calculations?a
A.?Selling price, variable expense per unit, and fixed expense per unit do not change throughout the relevant range.
B.?There is no change in inventory
-Estimated total manufacturing overhead cost/estimated total amount of the allocation base=
Predetermined overhead rate
-Predetermined overhead rate * actual total amount of the allocation base incurred during the
period = total manufacturing ov
Absorption: direct materials, direct labor, fixed overhead, variable overhead
Variable cost: direct materials, direct labor, variable overhead
Fixed manufacturing overhead/production = per fixed
Absorption costing unit product cost * units sold
For an increase in demand the price effect is smallest and the quantity effect is largest:
when supply is least elastic.
in the long run.
in the short run.
in the immediate market period.
A supply curve that is parallel to the horizontal axis suggests tha
Market failure is said to occur whenever:
private markets do not allocate resources in the most economically desirable way.
some consumers who want a good do not obtain it because the price is higher than they are willing
The utility of a good or service:
is synonymous with usefulness.
is the satisfaction or pleasure one gets from consuming it.
is easy to quantify.
rarely varies from person to person.
Marginal utility can be:
positive, but not negative.
positive or negativ
Which of the following industries most closely approximates pure competition?
Which of the following statements applies to a purely competitive producer?
It will not advertise its product.
In long-run equilibrium
Which of the following distinguishes the short run from the long run in pure competition?
Firms can enter and exit the market in the long run, but not in the short run.
Firms attempt to maximize profits in the long run, but not in the short run.
Pure monopoly refers to:
any market in which the demand curve to the firm is downsloping.
a standardized product being produced by many firms.
a single firm producing a product for which there are no close substitutes.
a large number of firms producing a