Extra practice chapter 1
1. Which of the following tends to place more emphasis on managing the process, i.e., the way
work is done, rather than managing the results?
a. Management accounting.
b. Cost accounting.
c. Cost management.
d. Activity management
1. What does your company produce?
Apple, manufactures, and markets mobile communication, media devices, personal computers,
portable digital music players, and sells a variety of related software, services, accessories,
networking solutions, and third-pa
The financial statements for your company are usually posted in Item 8 of the SEC 10-K
document. The management discussion and analysis section is earlier in the report.
1. The management of risk and uncertainty is often included in the MD&A section
SEC 10K Project Apple
CONSOLIDATED STATEMENTS OF INCOME OPERATIONS
Sep 27, 2014 Sep 28, 2013 Sep 29, 2012
Cost of Revenue
SEC 10K Project Apple
Using the SEC 10-K for your company, answer the following questions:
1. Costs and fluctuations are often discussed in the MD&A section. Any comments on your
The year-over-year increase in the gross margin percentage in 2014 was driven by
By definition, management accounting is the information that managers use for decision-making.
By definition, financial accounting is information provided to external users.
Hence, both financial accounting and management accounting
1. Which of the following statements is true?
Cost accounting systems may include,
a. Either historical costing or standard costing.
b. Either absorption costing or direct (or variable) costing.
c. Either job order costing or process
Circle the letter of your choice for each of the multiple choice questions below.
1. Which of the following represents part of Management Accounting?
a. Financial Accounting.
b. Tax Accounting.
c. Cost Accounting.
d. Managerial Accoun
PROBLEM #1 COST CLASSIFICATIONS, MANUFACTURING SECTOR
The Kitakyushu, Japan, plant of Nissan Motor Corporation assembles two types of cars (Teanas and
Muranos). Separate assembly lines are used for each type of car.
Classify each cost item (
CVP analysis, shoe stores.
The HighStep Shoe Company operates a chain of shoe stores that sell 10 different styles of inexpensive
mens shoes with identical unit costs and selling prices. A unit is defined as a pair of shoes. Each store
has a store manager
Read the Notes to the Financial Statements (FS) for your SEC 10-K company. These "notes" are
displayed after the financial statements.
1. Inventory comments: cost