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Summary EXAM QUESTIONS Financial Management June 2020
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Financial management examen juni 20201. The sum of the direct materials costs, direct labor costs, and manufacturing overhead
incurred is the: (2punten)
a. Cost of goods manufactured
b. Total manufacturing overhead
c. Total manufacturing costs
d. Total cost of work in progress
2. Larry Cable plans to introduce a new product and is using the target cost approach. Projected
sales revenue is €810.000 (€4,05 per unit) and target costs are €730.000. What is the desired
profit per unit? (2punten)
a. €0,40
b. €2,03
c. €3,65
d. None of the above
3. The direct materials quantity standard should:
a. Exclude unavoidable waste
b. Exclude quality considerations
c. Allow for normal spoilage
d. Always be expressed as an ideal standard
4. Process costing is not used when:
a. Similar goods are being produced
b. Large volumes are produced
c. Jobs have distinguishing characteristics
d. A series of connected manufacturing processes is necessary
5. Ditte Incorporated is a manufacturer of smartphones. The management of Ditte
Incorporated has hired a new accountant, who has prepared the following income statement
for the year 2019, expressed in EURO:
The management is concerned about the accuracy of the income statement, as in prior years
the company has always been profitable. You have been given some additional information:
Only 75% of the utilities expense and 60% of the insurance expense apply to factory
operations. The remaining amounts should be charged to selling and administrative activities.
Questions:
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