MANAGERIAL ACCOUNTING
budgets are - correct answer-used by individual, staffs, managers department
management accounting place more emphasis on which of the following - correct
answer-future activities
a listing of line item that the organization will use to classify its accounting info is - correct
answer-balance sheet
compute the fixed cost? DM 100,000 DL 150,000 Overhead 75,000 Sales 120,000 - correct
answer-75000, if not, none of the above
the primary purpose for carrying on "cost accounting activity" is - correct answer-to plan
operation
NPV and IRR are not true - correct answer-NPV alone can be used to compare investments
of different sizes
company z (long question) what is the fixed cost? - correct answer-20% of sales revenue
cost volume profit (VCP) analysis to answer which of the following - correct answer-all of the
above
the amount of overhead applied to a product or service is normally calculated by - correct
answer-divide estimate overhead by estimated units of the cost driver
comparing actual outcomes with budget outcomes , then following up is an example of -
correct answer-operating activities
which of the following is typically a starting point for the budget process - correct answer-a
sales budget
tax accounting is generally most used by - correct answer-internal revenue service (irs)
the term "product cost" as used in cost and managerial accounting context means - correct
answer-all manufacturing or production cost of the product
which of the following organization would most likely adopt to a process costing system -
correct answer-paper manufacturer
the discount rate for use in capital budgeting is also referred to as - correct answer-the
minimum required rate of return
which of the following is referring to management accounting - correct answer-is not a
subject to gaap
, the main purpose of management accounting is to provide information to - correct
answer-managers
the sum of direct materials plus direct labor is - correct answer-prime cost
zero based budget - correct answer-requires managers to build budgets from the ground up
which of the following pairs most accurately represents the ease of traceability cost? - correct
answer-variable costs and fixed costs
over and under over head occurs when - correct answer-either the overhead cost driver are
estimated incorrectly
chief accounting officer in an organization is - correct answer-controller
financial accounting info is most generally useful to - correct answer-external parties
the cost of rent for manufacturing is generally considered to be - correct answer-prime cost:
no / product cost: yes
all of the following are period costs except - correct answer-factory rent
which of the following will most likely classify as direct material cost - correct answer-an
engine in a custom automobile
pair the most accurate for cost volume analysis - correct answer-fixed cost and variable cost
target pricing - correct answer-target cost + target profit
lamar's disc rate 12 %. If the discount rate the present value of an annuity of $1 at 12% for 8
years is 4.968 what is the present value of the salvage value? - correct answer-none
(missing salvage value)
which phrase best describes the current role of a management accountant in an organization
- correct answer-managerial accountants facilitate the decisions for an organization
a thing of value that is owned by an organization and is expected to provide future benefit is
classified as which following? - correct answer-asset
a quantified plan of action for management is - correct answer-budget
which equation best represents the basic production budget - correct answer-sales budget in
units + (target) projecting ending inventory units - beginning inventory units
ethic's is true - correct answer-ethical issues frequently arise in the course of management
accountant's work
budgets are - correct answer-used by individual, staffs, managers department
management accounting place more emphasis on which of the following - correct
answer-future activities
a listing of line item that the organization will use to classify its accounting info is - correct
answer-balance sheet
compute the fixed cost? DM 100,000 DL 150,000 Overhead 75,000 Sales 120,000 - correct
answer-75000, if not, none of the above
the primary purpose for carrying on "cost accounting activity" is - correct answer-to plan
operation
NPV and IRR are not true - correct answer-NPV alone can be used to compare investments
of different sizes
company z (long question) what is the fixed cost? - correct answer-20% of sales revenue
cost volume profit (VCP) analysis to answer which of the following - correct answer-all of the
above
the amount of overhead applied to a product or service is normally calculated by - correct
answer-divide estimate overhead by estimated units of the cost driver
comparing actual outcomes with budget outcomes , then following up is an example of -
correct answer-operating activities
which of the following is typically a starting point for the budget process - correct answer-a
sales budget
tax accounting is generally most used by - correct answer-internal revenue service (irs)
the term "product cost" as used in cost and managerial accounting context means - correct
answer-all manufacturing or production cost of the product
which of the following organization would most likely adopt to a process costing system -
correct answer-paper manufacturer
the discount rate for use in capital budgeting is also referred to as - correct answer-the
minimum required rate of return
which of the following is referring to management accounting - correct answer-is not a
subject to gaap
, the main purpose of management accounting is to provide information to - correct
answer-managers
the sum of direct materials plus direct labor is - correct answer-prime cost
zero based budget - correct answer-requires managers to build budgets from the ground up
which of the following pairs most accurately represents the ease of traceability cost? - correct
answer-variable costs and fixed costs
over and under over head occurs when - correct answer-either the overhead cost driver are
estimated incorrectly
chief accounting officer in an organization is - correct answer-controller
financial accounting info is most generally useful to - correct answer-external parties
the cost of rent for manufacturing is generally considered to be - correct answer-prime cost:
no / product cost: yes
all of the following are period costs except - correct answer-factory rent
which of the following will most likely classify as direct material cost - correct answer-an
engine in a custom automobile
pair the most accurate for cost volume analysis - correct answer-fixed cost and variable cost
target pricing - correct answer-target cost + target profit
lamar's disc rate 12 %. If the discount rate the present value of an annuity of $1 at 12% for 8
years is 4.968 what is the present value of the salvage value? - correct answer-none
(missing salvage value)
which phrase best describes the current role of a management accountant in an organization
- correct answer-managerial accountants facilitate the decisions for an organization
a thing of value that is owned by an organization and is expected to provide future benefit is
classified as which following? - correct answer-asset
a quantified plan of action for management is - correct answer-budget
which equation best represents the basic production budget - correct answer-sales budget in
units + (target) projecting ending inventory units - beginning inventory units
ethic's is true - correct answer-ethical issues frequently arise in the course of management
accountant's work
