Exam (elaborations)
MANAGERIAL ACCOUNTING QUESTIONS WITH CORRECT VALIDATED ANSWERS.
- Course
- Institution
MANAGERIAL ACCOUNTING QUESTIONS WITH CORRECT VALIDATED ANSWERS.
[Show more]
Seller
Follow
Content preview
MANAGERIAL ACCOUNTINGQUESTIONS WITH CORRECT
VALIDATED ANSWERS.
budgets are ANS - used by individual, staffs, managers department
management accounting place more emphasis on which of the following ANS - future activities
a listing of line item that the organization will use to classify its accounting info is ANS - balance sheet
compute the fixed cost? DM 100,000 DL 150,000 Overhead 75,000 Sales 120,000 ANS - 75000, if not,
none of the above
the primary purpose for carrying on "cost accounting activity" is ANS - to plan operation
NPV and IRR are not true ANS - NPV alone can be used to compare investments of different sizes
company z (long question) what is the fixed cost? ANS - 20% of sales revenue
cost volume profit (VCP) analysis to answer which of the following ANS - all of the above
the amount of overhead applied to a product or service is normally calculated by ANS - divide estimate
overhead by estimated units of the cost driver
comparing actual outcomes with budget outcomes , then following up is an example of ANS - operating
activities
which of the following is typically a starting point for the budget process ANS - a sales budget
, tax accounting is generally most used by ANS - internal revenue service (irs)
the term "product cost" as used in cost and managerial accounting context means ANS - all
manufacturing or production cost of the product
which of the following organization would most likely adopt to a process costing system ANS - paper
manufacturer
the discount rate for use in capital budgeting is also referred to as ANS - the minimum required rate of
return
which of the following is referring to management accounting ANS - is not a subject to gaap
the main purpose of management accounting is to provide information to ANS - managers
the sum of direct materials plus direct labor is ANS - prime cost
zero based budget ANS - requires managers to build budgets from the ground up
which of the following pairs most accurately represents the ease of traceability cost? ANS - variable
costs and fixed costs
over and under over head occurs when ANS - either the overhead cost driver are estimated incorrectly
chief accounting officer in an organization is ANS - controller
financial accounting info is most generally useful to ANS - external parties
the cost of rent for manufacturing is generally considered to be ANS - prime cost: no / product cost: yes
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.29. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77851 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now