Need this by Wednesday 6/27.
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1. All of the followingare service organization, except:
a dry cleaners
a public accounting firm
A manufacturer of sporting goods
a real estate brokerage
2. Reviewing the output of thedepartment is an example of:
3. The Gotcha Company held a Christmasparty. The company expected attendance of 200 persons and prepared thefollowing budget:
Hotel roomrental $600
After allbills for the party were paid, the total came to $2,315. Details are: $575 forhotel room rental; $640 for food; $750 for entertainment; and $350 fordecorations. Two hundred persons attended the party.
What is thetotal budget variance?
$115 unfavorable is the total budget variance.
$115 favorable is the total budget variance.
$25 favorable is the total budget variance.
$140 unfavorable is the total budget variance
4. The Gotcha Company held a Christmasparty. The company expected attendance of 200 persons and prepared thefollowing budget:
After allbills for the party were paid, the total came to $2,315. Details are:$575 forhotel room rental; $640 for food; $750 for entertainment; and $350 fordecorations. Two hundred persons attended the party.
What is themain reason for the unfavorable total budget variance?
Hotel room rent is the main reason.
Food is the main reason
Entertainment is the main reason.
Decorations are the main reason.
5. Which scorecard function isassociated with making nonroutine decisions?
Scorekeeping is associated with making nonroutine decisions.
Attention directing is associated with making nonroutine decisions
Problem solving is associated with making nonrouting decisions.
None of these answers is correct.
6. The primary users of managementaccounting information are:
governmental regulatory authorities
internal decision makers
7. ____________refers to accountinginformation developed for managers within an organization.
8. The various stages through which aproduct passes are called the:
product life cycle
9. At a clothingmanufacturer, line authority is held by the head of which department?
The head of the assembly department holds line authority.
The head of the receiving department holds line authority.
The head of the shipping department holds line authority.
All of these anwsers are correct.
10. Which of the followingstatements is not true?
Management accounting does not play a vital role in the achievement of a company's goals and objectives.
Management accounting information is used across the entire value chain of activities.
Management accounting information is used throughout the life cycle of products and services.
External accountants are expected to adhere to standards of ethical conduct.
11. Managers should focustheir efforts on managing:
activities required to make products or deliver services
products and services
None of these answers is correct
12. Which of the followingis not a cost driver of customer services costs?
Hours spent servicing products are not a cost driver of customer services costs.
Travel costs are not a cost driver of customer services costs.
Number of service calls is not a cost driver of customer services costs.
All of these answers are correct.
13. _________is how theactivities of an organization affect its costs.
Volume-related cost drivers
Non of these answers is correct
14. As the cost-driver activity level increases within the relevantrange:
total fixed costs remain unchanged
fixed costs per unit increases
total variable costs decrease
variable costs per unit increases
15. As the cost driver activity level decreases within the relevantrange:
total fixed costs increase
fixed costs per unit decreases
variable costs per unit decreases
16. An increase in total variable cost usually indicates:
the cost-driver activity level is decreasing
the cost-driver activity level is increasing
variable costs per unit is decreasing
variable costs per unit is increasing
17. Relevant range applies to:
the variable costs
both fixed and variable costs
cost driver activity levels
18. The level of sales at which revenues equal expenses and netincome is zero is called the:
margin of safety
marginal income point
19. If the sales price per unit is $20, the unit contributionmargin is $8, and total fixed costs are $24,000, the break-even point in unitsis:
20. Meredith Company wishes to earn after-tax net income of$18,000. Total fixed costs are $84,000, and the contribution margin per unit is$6.00. Meredith's tax rate is 40%. The number of units that must be sold tobreakeven is
21. _________will decrease a company's break-even point.
Reducing its total fixed costs
Increasing contribution margin per unit
Increasing variable cost per unit
Decreasing the selling price per unit
22. If the sales price per unit is $180, variable cost per unit is$96, targeted net income is $52,800, and total fixed costs are $39,600, thenumber of units that must be sold is:
23. ______________is the excess of sales over the cost of goodssold.
The sales mix
24. ____________is the relative proportions or combinations ofquantities of products that comprise total sales.
25. The cost of using the telephone, which involves a flat rate permonth plus a fee for extra usage, world be considered a:
26. Costs that change abruptly at intervals of activity because theresources and their costs come in indivisible chucks called:
27. Palmer, Inc., currentlyproduces 140,000 units at a cost of $440,000. Next year Palmer, Inc., expectsto produce 150,000 units. Palmer's relevant range is 100,000 to 150,000 units.If the cost is fixed and 150,000 units are produced, the fixed cost:
will stay the same
will increase to $480,000
will be indeterminate
28. A thorough knowledge ofcost behavior helps managers to:
decide on the efficient use of resources
All of these answers are correct.
29. The following three data points appear to be:
a variable cost
a mixed cost
a fixed cost
a step cost
30. The following three datapoints appear to be:
Committed fixed costs
Discretionary fixed costs
31. __________changeabruptly at intervals of activity because the resources and their costs areonly available in indivisible chunks.
32. A car lease paymentcomputed by the number of miles driven can be identified as a:
purely variable cost
discretionary fixed cost
committed fixed cost
33. Costs thatmay be essential to the long-run achievement of the organization's goals, butthat managers can almost reduce to zero in the short run, are called:
committed fixed costs.
discretionary fixed costs
34. A mortgagepayment would most likely be identified as a:
35. ___________needagregate rather than detailed cost information.
Both internal and external users
36. ______________needagregate measures of inventory value and cost of goods sold.
All of these answers are correct.
37. A_____________isa activity for which a separate measurement is desired.
cost accumulation system
38. ________________Glueis not a direct cost of a furniture manufacturer.
Paint for finished products
Glass for table tops
39. Where aspecific product is the cost object, the hourly wages of assembly workers whowork on ony that product would be classified as a(n):
direct, varialbe cost
direct, fixed cost
indirect, variable cost
idirect, fixed cost
40. ____________isthe sum of direct labor and direct materials
41. ______________isnot a product cost.
Wages of factory guards
Depreciation on factory equipment
A sales commission