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ACG 2071 - Managerial Accounting - UCF Study Resources
  • 2 Pages Chapter 13 Quiz Answers
    Chapter 13 Quiz Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 13 Quiz Answers- Managerial Accounting The statement of cash flows cash flows from investing activities 1) 2) On the statement of cash flows, the cash flows from operating activities section would include cash payments for salaries 3) Cash receive

  • 3 Pages chapter 6 quiz most missed
    chapter 6 quiz most missed

    School: UCF

    Chapter 6 Quiz Commonly Missed Questions Note- Questions for the quiz are selected from a bank of questions which means that some of the questions below may be similar, but not exactly the same as questions on your quiz. Correct Answers are in Bold 1) Wit

  • 2 Pages Chapter 4 Quiz Commonly Missed Questions
    Chapter 4 Quiz Commonly Missed Questions

    School: UCF

    Chapter 4 Quiz Commonly Missed Questions 1) If a company were to increase its appraisal costs by inspecting more units as the units are completed, the companys internal failure costs: a) could not be predicted b) would usually decrease c) would usually in

  • 2 Pages Chapter 8 Quiz Most Missed Questions
    Chapter 8 Quiz Most Missed Questions

    School: UCF

    Chapter 8 Quiz Commonly Missed Questions Correct answers and calculations are in bold. 1) When making product mix decisions, companies are most profitable when they maximize production of the product with the greatest sales demand. a) True b) False (maxim

  • 9 Pages Chapter 1
    Chapter 1

    School: UCF

    Course: Managerial Accounting

    Exercise 1-1 The Roles of Managers and Management Accountants [LO1, LO2] Choose the term or terms that most appropriately complete the following statements. 1. Managerial accounting (7%) is concerned with providing information for the use of those wh

  • 7 Pages Chapter 8
    Chapter 8

    School: UCF

    Course: Managerial Accounting

    Question 1: (1 point) Exercise 8-1 ABC Cost Hierarchy [LO1] Classify each of the activities as either a unit-level, batch-level, product-level, or organization sustaining activity. Product-level a. Various individuals manage the parts inventories b

  • 11 Pages Chapter 9
    Chapter 9

    School: UCF

    Course: Managerial Accounting

    Question 1: (1 point) Exercise 9-1 Schedule of Expected Cash Collections [LO2] Peak sales for Midwest Products, a wholesale distributor of leaf rakes, occur in August. The company's sales budget for the third quarter showing these peak sales is give

  • 14 Pages Chapter 2
    Chapter 2

    School: UCF

    Course: Managerial Accounting

    Exercise 2-1 Classifying Manufacturing Costs [LO1] Your Boat, Inc., assembles custom sailboats from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a Gig Harbor, Washi

  • 10 Pages Chapter 13
    Chapter 13

    School: UCF

    Course: Managerial Accounting

    Question 1: (2 points) Exercise 13-2 Dropping or Retaining a Segment [LO2] Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors who live in their own homes within the Jackson County area. Thre

  • 6 Pages Chapter 14
    Chapter 14

    School: UCF

    Course: Managerial Accounting

    Question 1: (2 points) Exercise 14-1 Net Present Value Method [LO1] The management of Opry Company, a wholesale distributor of suntan products, is considering the purchase of a $25,000 machine that would reduce operating costs in its warehouse by $4

  • 9 Pages Chapter 3
    Chapter 3

    School: UCF

    Course: Managerial Accounting

    Exercise 3-1 Process Costing and Job-Order Costing [LO1] Which would be more appropriate in each of the following situations-job-order costing or process costing? a. b. c. d. e. f. g. h. i. j. k. l. A custom yacht builder. A golf course designer. A

  • 13 Pages Chapter 6
    Chapter 6

    School: UCF

    Course: Managerial Accounting

    Question 1: (1 point) Exercise 6-3 Computing and Using the CM Ratio [LO3] Last month when Harrison Creations, Inc., sold 40,000 units, total sales were $300,000, total variable expenses were $240,000, and total fixed expenses were $45,000. Requireme

  • 12 Pages Chapter 5
    Chapter 5

    School: UCF

    Course: Managerial Accounting

    Question 1: Exercise 5-1 Fixed and Variable Cost Behavior [LO1] Koffee Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand is $1,100 and the variable cost per cup of coffee served is

  • 2 Pages Exam 2 Study Guide
    Exam 2 Study Guide

    School: UCF

    Course: Managerial Accounting

    ACG 2071 Exam #2 Study Guide (Chapters 6-8, 12) 100 Total Points (15 T/F @ 2 pts each, 35 M/C @ 2 pts each) 110 minutes maximum time allowed Allowed non-programmable calculator The information provided is intended to be a list of key topics potentially in

  • 7 Pages Chapter 10 Exercises Day 1 with Answers
    Chapter 10 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 10 Exercises Day 1 (objectives 1,2 and 4) a. b. c. d. e. f. g. h. i. j. A profit center A responsibility center Lower A revenue center A profit center A cost center An investment center A cost center An investment center A profit center Midwest Di

  • 7 Pages Chapter 8 Exercises Day 2 with Answers
    Chapter 8 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 8 Exercises Day 2 1. The avoidable costs are the variable costs of making the bread: Direct material Direct labor Variable overhead Total Variable cost per unit $0.50 0.70 0.20 $1.40 2. Olive Garden should bake the bread in-house since the variabl

  • 7 Pages Chapter 10 Exercises Day 2 with Answers
    Chapter 10 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 10 Exercises Day 2 (objectives 3 and 5) 7. Snow Sports Non-Snow Sports Operating Income $ 1,040,000 $ 1,680,000 / / / Total Assets $ 4,000,000 $ 6,000,000 = = = ROI 26.0 % 28.0 % 7-2: The Non-Snow Sports division will most likely receive those fun

  • 3 Pages Exam 1 Study Guide
    Exam 1 Study Guide

    School: UCF

    Course: Managerial Accounting

    ACG 2071 Exam #1 Study Guide (chapters 1-4) 100 Total Points (15 T/F @ 2 pts each, 35 M/C @ 2 pts each) 110 minutes maximum time allowed Allowed non-programmable calculator The information provided is intended to be a list of key topics potentially includ

  • 7 Pages Chapter 2 Exercises Day 1 with Answers
    Chapter 2 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    a. b. c. d. e. f. g. direct indirect direct direct direct indirect direct h. indirect a. Product cost b. Product cost c. Period cost d. Product cost e. Period cost f. Product cost g. Product cost h. Period cost i. Period cost COST a. Wages and benefits pa

  • 4 Pages Chapter 11 Exercises Day 1 with Answers
    Chapter 11 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 11 Exercises Sugar per cup Chocolate chips per ounce Butter per ounce Evaporated milk per ounce Std DM cost per batch Quantity 9.5 20 Price $ 0.20 $ 0.15 Cost $ 1.90 $ 3.00 18 24 $ 0.12 $ 0.08 $ $ 2.16 1.92 $ 8.98 0.2 hours x $18.00 = $3.60 standa

  • 9 Pages Chapter 7 Exercises Day 1 with Answers
    Chapter 7 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 7 Exercises Day 1 a. Sales price per passenger. Less: Variable cost per passenger. Contribution margin per passenger $ 120 (48) $ 72 b. Contribution margin per passenger Divided by sales price per passenger. Contribution margin ratio. $72 120 60%

  • 7 Pages Chapter 7 Exercises Day 2 with Answers
    Chapter 7 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 7 Exercises Day 2 Sales price per unit. Contribution margin ratio. Contribution margin per unit. $14.00 .625 $ 8.75 Find the number of scarves needed to breakeven on (or pay for) the extra entrance fee cost of $350 (= $1,400 25% increase): Breake

  • 5 Pages Chapter 6 Exercises Day 2 with Answers
    Chapter 6 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 6 Exercises Day 2 Step 1: Find the Slope (i.e. the Variable Costs per unit) Change in cost (Y) Change in volume (X) = 27,500 25,300 940 - 840 = 2,200 = 100 $22.00 Step 2: Compute the intercept (i.e. Total Fixed Costs) by plugging in slope with cos

  • 9 Pages Chapter 4 Exercises Day 2 with Answers
    Chapter 4 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 4 Day 2 Exercises 1. Activity Machine setup Machining Quality control Estimated Estimated Manufacturing Overhead Use of Cost Driver $ 150,450 3,000 set-ups $ 999,900 5,000 machine hours $ 339,700 4,500 tests run Activity Cost Allocation Rate $ 50.

  • 5 Pages Chapter 3 Exercises Day 1 with Answers
    Chapter 3 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    a. Job costing is used by companies that produce unique services and products. b. Indirect costs cannot be traced to specific products, so they are divided up using a process called cost allocation. c. All costs for a particular job are recorded on the jo

  • 6 Pages Chapter 3 Exercises Day 2 with Answers
    Chapter 3 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    1. Predetermined manufacturing overhead rate = $1,800,000 $2,000,000 of direct labor cost = 90% of direct labor cost 2. Total manufacturing overhead allocated = Actual use of cost allocation base Predetermined man. overhead rate = = $2,250,000 90% $2,025,

  • 8 Pages Chapter 2 Exercises Day 2 with Answers
    Chapter 2 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Direct Materials (DM Used Equation) Beginning Raw Materials Add: Raw Materials Purchased _ Available Less: Ending Raw Materials ( _ ) Direct Materials Used Work-In-Process (CoGM Equation) Beginning Work-in-Process Add: Direct Materials Add: Direct Labor A

  • 5 Pages Chapter 11 Exercises Set 2 with Answers
    Chapter 11 Exercises Set 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 11 Exercises Set 2 1. Actual cost per gram = $797,040 / 12,300 = $64.80 per gram 2. Direct Material Price Variance = (actual quantity purch.) x (actual price standard price) = 12,300 x (64.80* 65.00) = 2,460 F 3. Direct Material Quantity Variance

  • 5 Pages Chapter 12 Exercises Day 1 with Answers
    Chapter 12 Exercises Day 1 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 12 Exercises Day 1 a. In capital rationing decisions, the profitability index must be computed to compare investments requiring different initial investments when the NPV method is used. b Payback period ignores salvage value. c. IRR uses discount

  • 6 Pages Chapter 12 Exercises Day 2 with Answers
    Chapter 12 Exercises Day 2 with Answers

    School: UCF

    Course: Managerial Accounting

    Chapter 12 Exercises Day 2 At 6% interest rate Scenario 3 is best. Scenario #1 Present value Scenario #2 Present value Scenario #3 Present value = = = $ 7,000 (Annuity PV factor, i = 6%, n = 8) $ 7,000 6.210 $43,470 = $45,000 (since it would be received n

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