Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Spring 2015
ch03
Student: _
1.
Which of the following companies is most likely to use a job-order costing system rather than a process
costing system?
A. Fast food restaurant
B. Shipbuilder
C. Crude oil refinery
D. Candy maker
2.
Kelly Sportswear manufactures a speci
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Spring 2016
Chapter 8 Variable Costing: A Tool for Management
Comparing Two Methods:
- Under absorption costing, selling and administrative expenses are always treated as period expenses and
deducted from revenue as incurred
- Net Operating Income is not affected by
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Spring 2016
Chapter 8 Variable Costing: A Tool for Management
Comparing Two Methods:
- Under absorption costing, selling and administrative expenses are always treated as period
expenses and deducted from revenue as incurred
- Net Operating Income is not affected by
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Spring 2016
Chapter 10 Standard Costs and Overhead Analysis
It can provide feedback concerning what works and what does not work, and it can help motivate
people to sustain their efforts
Standard: benchmark or norm for measuring performance
- Relate to the quantity
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Spring 2016
Chapter 11 Reporting for Control
Decentralization in Organizations
Decentralized organizations: decision-making is spread throughout the organization, rather than being confined to
a few top executives
- Require segment reporting
Segment Reporting
- Manag
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Winter 2015
Management Accoun-ng
MOS 3372
Week 9
Danny L. Morrison, MBA
Sales Price Variance p. 545
The sales price variance is a exible-budget variance
and is equal to the dierence between the actual
revenues and the exible budg
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chem Company - Solution
i) Net Realizable Value Method - Sales Value
Net Realizable Sales Value for each product is calculated as follows:
total tons x price
Tons sold
Ending
Inventory
Total Tons
Alpha
120
180
300
$
1,500
$
450,000
$
450,000
Beta
340
60
4
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter6
Three major classifications of costs in chapter6: variable cost, fixed cost and mixed cost.
Fixed Costs
When production volume and cost are graphed, units of product are usually plotted on
the horizontal axis and dollars of cost are plotted on th
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Accounting Mid-Term Study Notes
Chapter 1: Managerial Accounting and the Business Environment
Managerial accounting: The form of accounting concerning providing information to managers
for use in planning and controlling operations and for decision making
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter 01 Managerial Accounting and
the Business Environment
1. Day-to-day decision making is most common to which of the
following activities managers are expected to carry on in
organizations?
A.
B.
C.
D.
Strategy formulation.
Directing and motivating.
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter 02 Cost Terms, Concepts, and
Classifications
1. What would be the classification of corporate controller's salary?
A.
B.
C.
D.
Manufacturing cost.
Product cost.
Administrative cost.
Selling cost.
2. How should the cost of the fire insurance for a
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter 04 Cost-Volume-Profit
Relationships
1. Which of the following is defined as the difference between total
sales in dollars and total variable expenses?
A.
B.
C.
D.
Margin of safety.
Operating income.
The gross margin.
The contribution margin.
2. Br
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter 07 Activity-Based Costing: A Tool
to Aid Decision Making
1. Costs incurred at which of the following activity levels should NOT
be allocated to products for decision-making purposes?
A.
B.
C.
D.
Unit-level activities.
Batch-level activities.
Produ
Western University (Ontario) - Also known as University of Western Ontario
Management Accounting
BMOS 3370
-
Fall 2014
Chapter 1:
Managerial Accounting
Managerial Accounting: concerns providing information to managers and people inside an organization who direct
and control its operations
- Data helps organization run more efficiently
Financial Accounting: concerns provid
