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1. Question : (TCO 1) The principle managers follow when they only investigate significant departures from the plan is commonly known as Points Received: 4 of 4 2. Question : (TCO 1) Which of the following is not likely to be a fixed cost? Points Received: 4 of 4 3. Question : (TCO 2) Which of the following is not a manufacturing cost? Points Received: 4 of 4 4. Question : (TCO 2) An allocation base is Points Received: 4 of 4 5. Question : (TCO 3) Equivalent units are calculated by Points Received: 4 of 4 6. Question : (TCO 3) In the assembly department, all the direct materials are added at the beginning of the processing. Beginning Work in Process inventory consists of 2,000 units with a direct materials cost of $31,860. During the period, 15,000 units are started and direct materials costing $250,000 are charged to the department. If there are 1,000 units in ending inventory, what is the cost per equivalent unit? Points Received:


4 of 4 7. Question : (TCO 4) Regression analysis Points Received: 4 of 4 8. Question : (TCO 4) The number of units that must be sold to exactly cover its fixed and variable costs is the Points Received: 4 of 4 9. Question : (TCO 5) Which of the following is treated as a product cost in variable costing? Points Received: 4 of 4 10. Question : (TCO 5) If the number of units sold is less than the number of units produced Points Received: 4 of 4 11. Question : (TCO 6) A contract which specifies that the suppler will be paid for the cost of production as well as some fixed amount or percentage of cost is called a(n) Points Received: 4 of 4 12. Question : (TCO 6) Which of the following is not generally true when a company compares ABC and traditional costing? Points Received: 4 of 4 13. Question : (TCO 7) Fixed costs that will be eliminated if a particular course of action is undertaken are called Points Received: 4 of 4 Page: 1. Question : (TCO 7) Common costs Points Received: 4 of 4 2. Question : (TCO 8) Target costing


Points Received: 4 of 4 3. Question : (TCO 8) Which of the following are relevant in deciding whether to accept or reject a special order? Points Received: 4 of 4 4. Question : (TCO 9) Present value techniques Points Received: 4 of 4 5. Question : (TCO 9) The internal rate of return Points Received: 4 of 4 6. Question : (TCO 10) A method of budget preparation that requires all budgeted amounts to be justified by the department, even if the amounts were supported in prior periods, is called Points Received: 4 of 4 7. Question : (TCO 10) Which budget is prepared first? Points Received: 4 of 4 8. Question : (TCO 10) The standard cost is Points Received: 4 of 4 9. Question : (TCO 10) In general, an unfavorable material variance arises from Points Received: 4 of 4 10. Question : (TCO 10) The type of center that has responsibility for generating revenue as well as controlling costs is a(n) Points Received: 4 of 4 11.


Question : (TCO 10) Responsibility accounting holds managers responsible for Points Received: 4 of 4 12. Question : (TCO 10) Which ratio measures the rate earned on total capital provided by the owners? Points Received: 4 of 4 Page: 1. Question : (TCO 1) Distinguish managerial accounting from financial accounting. Include a brief discussion of the differences in the types of information provided to users as well as the differences of the users of the accounting information. Points Received: 20 of 20 2. Question : (TCO 6) Booth Financial Services, LLC has two revenue producing departments, Financial Planning and Business Consulting. The accounting department is trying to determine the best method to allocate $1,000,000 of common costs (secretarial staff, reception personnel, etc), either by salary or number of employees. Information on the revenue departments are as follows: Department Employees Salaries Financial Planning 150 employees $10,000,000 Business Consulting 50 employees $5,000,000

(a) Allocate the $1,000,000 common costs to the two revenue departments using both methods. (b) Why are allocations called arbitrary? Points Received: 25 of 25 3. Question : (TCO 10) Charlie Corp sells it products on both credit and cash basis. Monthly sales are sold 20% for cash, 80% for credit. Credit sales are collected 40% in the month of sale and 60% the following month. Sales for the first quarter are as follows:


January $100,000 February $150,000 March $125,000

Compute cash collections for February. Points Received: 25 of 25 4. Question : Attachments ACCT 346 Week 8 Final Exam.zip -->

Acct 346 final exam  

Acct 346 final exam ACCT 346 Week 1-7 All Discussion Questions ACCT-346 Managerial Accounting Course Project on Bravo Baking Company ACCT 34...

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