ACCT 212 FINAL MC - PROF Geisler (Liberty University) fall 2024, FINAL EXAM
ACCT 212
1. what is not needed for a DL budget Material pricer per pound of material
2. three most common tools of financial horizontal analysis, vertical analysis, ration
analysis analysis
3. what is a budget that is periodically re- rolling budget
vised and new periods added to replace
those that have lapsed
4. current assets - current liabilities = working capital
5. rate yields a net present value of zero for internal rate of return
an investment
6. when calculating departmental overhead total estimated departmental overhead cost
rate, numerators should be
7. what is the first step in calculating sales calculating cm per product, then CM for ma-
mix when resources are constrained? chine hour
8. calculation of payback period when net cost of investment/annual net cash flow
cash flow is even (equal)
9. cost that is unchanged in total despite fixed cost
changes in volume of activity
10. what are methods to analyze past cost be- high low, scatter diagram, regression
havior
11. balanced scorecard requires managers to four
think of the company from how many per-
spectives?
, ACCT 212 FINAL MC - PROF Geisler (Liberty University) fall 2024, FINAL EXAM
ACCT 212
12. which of the following would be an invest- purchase of equipment
ing activity on cash flow
13. department that generates cost without cost center
directly generating revenue
14. investment center ROI formula income/avg invested assets
15. expenses not easily associated with a spe- indirect expense
cific department are
16. time value of money concept a dollar today is worth more than a dollar
tomorrow
17. sales level at which company neither break even point
earns a profit nor incurs a loss is
18. beginning inventory plus purchases for a cost of goods available for sale
merchandiser equals
19. when companies sell more that 1 product, composite units
we estimate break even point by using
20. analytical tech used to focus on most sig- management by exception
nificant variances
21. which department is responsible for DM purchasing
price variance
22. which of the following is most likely to be cereal
produced in process operations system
23. type of budget based on single prediction fixed budget
sales volume
, ACCT 212 FINAL MC - PROF Geisler (Liberty University) fall 2024, FINAL EXAM
ACCT 212
24. example of DL cost is product assembly wages
25. rent and maintenance would most likely square feet or floor spaces occupied by each
be allocated based on department
26. which of the following costs is not included DM
in factory OH
27. ability to generate future revenue and solvency
meet longterm obligations
28. costs already incurred in manufacturing sunk costs
units that don't meet quality
29. from an ABC perspective, what causes activities
costs to be incurred
30. a company's required rate of return, typi- hurdle rate
cally cost of capital is called
31. which of the following products would be custom jewelry
most applicable for a job costing
32. showing each item on financial statement common size financial statement
as a percentage of a base amount is
33. cost object of plantwide OH rate method units of production
34. an additional cost incurred only if a com- incremental cost
pany pursues a particular course of action
is
35. revenue do not exceed direct cost
ACCT 212
1. what is not needed for a DL budget Material pricer per pound of material
2. three most common tools of financial horizontal analysis, vertical analysis, ration
analysis analysis
3. what is a budget that is periodically re- rolling budget
vised and new periods added to replace
those that have lapsed
4. current assets - current liabilities = working capital
5. rate yields a net present value of zero for internal rate of return
an investment
6. when calculating departmental overhead total estimated departmental overhead cost
rate, numerators should be
7. what is the first step in calculating sales calculating cm per product, then CM for ma-
mix when resources are constrained? chine hour
8. calculation of payback period when net cost of investment/annual net cash flow
cash flow is even (equal)
9. cost that is unchanged in total despite fixed cost
changes in volume of activity
10. what are methods to analyze past cost be- high low, scatter diagram, regression
havior
11. balanced scorecard requires managers to four
think of the company from how many per-
spectives?
, ACCT 212 FINAL MC - PROF Geisler (Liberty University) fall 2024, FINAL EXAM
ACCT 212
12. which of the following would be an invest- purchase of equipment
ing activity on cash flow
13. department that generates cost without cost center
directly generating revenue
14. investment center ROI formula income/avg invested assets
15. expenses not easily associated with a spe- indirect expense
cific department are
16. time value of money concept a dollar today is worth more than a dollar
tomorrow
17. sales level at which company neither break even point
earns a profit nor incurs a loss is
18. beginning inventory plus purchases for a cost of goods available for sale
merchandiser equals
19. when companies sell more that 1 product, composite units
we estimate break even point by using
20. analytical tech used to focus on most sig- management by exception
nificant variances
21. which department is responsible for DM purchasing
price variance
22. which of the following is most likely to be cereal
produced in process operations system
23. type of budget based on single prediction fixed budget
sales volume
, ACCT 212 FINAL MC - PROF Geisler (Liberty University) fall 2024, FINAL EXAM
ACCT 212
24. example of DL cost is product assembly wages
25. rent and maintenance would most likely square feet or floor spaces occupied by each
be allocated based on department
26. which of the following costs is not included DM
in factory OH
27. ability to generate future revenue and solvency
meet longterm obligations
28. costs already incurred in manufacturing sunk costs
units that don't meet quality
29. from an ABC perspective, what causes activities
costs to be incurred
30. a company's required rate of return, typi- hurdle rate
cally cost of capital is called
31. which of the following products would be custom jewelry
most applicable for a job costing
32. showing each item on financial statement common size financial statement
as a percentage of a base amount is
33. cost object of plantwide OH rate method units of production
34. an additional cost incurred only if a com- incremental cost
pany pursues a particular course of action
is
35. revenue do not exceed direct cost
