Management and Organizational Behavior
Chapter Exam Questions
Course Introduction
This course explores the fundamental principles of management and the dynamics of organizational behavior within modern workplaces. Students will examine the roles and functions of managers, key management theories, and the impact of individual and group behavior on organizational effectiveness. Topics include motivation, leadership, communication, decision-making, conflict resolution, and organizational culture. Through case studies, discussions, and practical exercises, learners will develop critical skills for managing teams, fostering productive work environments, and leading organizations toward achieving strategic goals.
Recommended Textbook
Managerial Accounting 12th Edition by
Carl S. Warren
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2382 Verified Questions
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Page 2
Chapter 2: Job Order Costing
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Sample Questions
Q1) The finished goods account is the controlling account for the:
A) cost ledger
B) materials ledger
C) work in process ledger
D) stock ledger Answer: D
Q2) The materials requisition serves as the source document for debiting the accounts in the materials ledger.
A)True
B)False Answer: False
Q3) When the goods are sold, their costs are transferred from Work in Process to Finished Goods.
A)True
B)False Answer: False
Q4) The job order costing system is not used by service organizations.
A)True
B)False Answer: False
Page 3
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Chapter 3: Process Cost Systems
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Sample Questions
Q1) Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710. The number of equivalent units of production for the period for conversion if the first-in, first-out method is used to cost inventories was:
A) 14,365
B) 13,615
C) 12,000
D) 15,865
Answer: D
Q2) In applying the first-in, first-out method of costing inventories, if 8,000 units which are 30% completed are in process at June 1, 28,000 units are completed during June, and 4,000 units were 75% completed at June 30, the number of equivalent units of production for June was 33,400.
A)True
B)False
Answer: False
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Page 4
Chapter 4: Cost Behavior and Cost-Volume-Profit Analysis
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Sample Questions
Q1) Cost-volume-profit analysis can be presented in both equation form and graphic form.
A)True
B)False
Q2) Marcye Co. manufactures office furniture. During the most productive month of the year, 3,500 desks were manufactured at a total cost of $84,400. In its slowest month, the company made 1,100 desks at a cost of $46,000. Using the high-low method of cost estimation, total fixed costs are:
A) $56,000
B) $28,400
C) $17,600
D) cannot be determined from the data given
Q3) Zipee Inc.'s unit selling price is $90, the unit variable costs are $40.50, fixed costs are $170,000, and current sales are 12,000 units. How much will operating income change if sales increase by 5,000 units?
A) $125,000 decrease
B) $175,000 increase
C) $75,000 increase
D) $247,500 increase
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Page 5
Chapter 5: Variable Costing for Management Analysis
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Sample Questions
Q1) For short-run production planning, information in the absorption costing format is more useful to management than is information in the variable costing format.
A)True
B)False
Q2) Contribution margin reporting can be beneficial for analyzing, which of the following?
A) sales personnel
B) products
C) sales territory
D) all of the above
Q3) Which of the following would be included in the cost of a product manufactured according to absorption costing?
A) advertising expense
B) sales salaries
C) depreciation expense on factory building
D) office supplies costs
Q4) Variable costing is also known as direct costing.
A)True
B)False
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Chapter 6: Budgeting
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Q1) The financial budgets of a business include the cash budget, the budgeted income statement, and the budgeted balance sheet.
A)True
B)False
Q2) The cash budget presents the expected inflow and outflow of cash for a specified period of time.
A)True
B)False
Q3) A formal written statement of management's plans for the future, expressed in financial terms, is called a budget.
A)True
B)False
Q4) Part of the cash budget is based on information drawn from the capital expenditures budget.
A)True
B)False
Q5) The first budget to be prepared is usually the cash budget. A)True B)False
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Chapter 7: Performance Evaluation Using Variances From
Standard Costs
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Sample Questions
Q1) A variable cost system is an accounting system where standards are set for each manufacturing cost element.
A)True
B)False
Q2) Ruby Company produces a chair that requires 5 yds. of material per unit. The standard price of one yard of material is $7.60. During the month, 8,500 chairs were manufactured, using 40,000 yards at a cost of $7.50. Determine the (a) price variance, (b) quantity variance, and (c) cost variance.
Q3) Which of the following is not a reason standard costs are separated in two components?
A) the price and quantity variances need to be identified separately to correct the actual major differences.
B) identifying variances determines which manager must find a solution to major discrepancies.
C) if a negative variance is over-shadowed by a favorable variance, managers may overlook potential corrections.
D) variances brings attention to discrepancies in the budget and requires managers to revise budgets closer to actual.
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Chapter 8: Performance Evaluation for Decentralized Operations
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Sample Questions
Q1) The balanced scorecard measures financial and nonfinancial performance of a business. The balanced scorecard measures four areas. Identify one of the following that is not included as a performance measurement.
A) Internal Process
B) Financial
C) Innovation and Learning
D) Employees
Q2) Responsibility accounting reports for profit centers are normally in the form of income statements.
A)True
B)False
Q3) Some organizations use internal service departments to provide like services to several divisions or departments within an organization. Which of the following would probably not lend itself as a service department?
A) Inventory Control
B) Payroll Accounting
C) Information Systems
D) Human Resources
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Chapter 9: Differential Analysis and Product Pricing
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Sample Questions
Q1) Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
A)True
B)False
Q2) The Swan Company produces their product at a total cost of $43 per unit. Of this amount $8 per unit is selling and administrative costs. The total variable cost is $30 per unit The desired profit is $20 per unit. Determine the mark up percentage on total cost.
A) 100%
B) 110%
C) 80%
D) 46.5%
Q3) Olsen Company produces two products. Product A has a contribution margin of $30 and requires 10 machine hours. Product B has a contribution margin of $24 and requires 4 machine hours. Determine the most profitable product assuming the machine hours are the constraint.
Q4) Using the variable cost concept determine the selling price for 30,000 units using the following data: Variable cost per unit $15.00, total fixed costs $90,000 and desired profit $150,000.
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Page 10
Chapter 10: Capital Investment Analysis
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Sample Questions
Q1) A project has estimated annual net cash flows of $50,000. It is estimated to cost $180,000. Determine the cash payback period.
Q2) All of the following qualitative considerations may impact upon capital investment analysis except:
A) manufacturing productivity
B) manufacturing sunk cost
C) manufacturing flexibility
D) market opportunities
Q3) The computations involved in the net present value method of analyzing capital investment proposals are less involved than those for the average rate of return method. A)True
B)False
Q4) If a proposed expenditure of $70,000 for a fixed asset with a 4-year life has an annual expected net cash flow and net income of $32,000 and $12,000, respectively, the cash payback period is 2.5 years.
A)True
B)False
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11
Chapter 11: Cost Allocation and Activity-Based Costing
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Sample Questions
Q1) Challenger Factory produces two similar products - regular widgets and deluxe widgets. The total plant overhead budget is $675,000 with 300,000 estimated direct labor hours. It is further estimated that deluxe widget production will need 3 direct labor hours for each unit and regular widget production will require 2 direct labor hours for each unit. Using the single plantwide factory overhead rate with an allocation base of direct labor hours, how much factory overhead will be allocated to the deluxe widget production if the budgeted production for the period is 50,000 units and actual production for the period is 58,000 units?
A) $391,500
B) $225,000
C) $261,000
D) $337,500
Q2) Common allocation bases are
A) direct labor dollars, direct labor hours, direct material dollars
B) direct labor dollars, direct labor hours, machine hours
C) direct labor dollars, direct labor hours, machine dollars
D) machine dollars, direct labor dollars, machine hours
Q3) A single plantwide overhead rate method is very expensive to apply.
A)True
B)False
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Chapter 12: Cost Management for Just-In-Time
Environments
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Sample Questions
Q1) In a just-in-time (JIT) system, the work in process and raw materials inventory accounts are combined.
A)True
B)False
Q2) In a push manufacturing system, raw materials are released to production based on actual customer orders.
A)True
B)False
Q3) Costs of controlling quality include prevention costs and internal failure costs.
A)True
B)False
Q4) Which of the following results in long lead time?
A) long setup times
B) large batch sizes
C) large inventories
D) all of the above
Q5) In a just-in-time (JIT) system, direct labor is included in conversion costs.
A)True
B)False
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Chapter 13: Statement of Cash Flows
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Sample Questions
Q1) Cash dividends paid on capital stock would be reported in the statement of cash flows in
A) the cash flows from financing activities section
B) the cash flows from investing activities section
C) a separate schedule
D) the cash flows from operating activities section
Q2) Under the direct method of preparing a Statement of Cash Flows, the gain on the sale of land is not adjusted or reported as part of cash flows from operating activities.
A)True
B)False
Q3) If a gain of $11,000 is realized in selling (for cash) office equipment having a book value of $55,000, the total amount reported in the cash flows from investing activities section of the statement of cash flows is
A) $44,000
B) $11,000
C) $55,000
D) $66,000
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Chapter 14: Financial Statement Analysis
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Sample Questions
Q1) Why would you compare or not compare Coca-Cola and Pepsi-Cola (PepsiCo) as companies to each other?
Q2) The relationship of $325,000 to $125,000, expressed as a ratio, is
A) 2.0 to 1
B) 2.6 to 1
C) 2.5 to 1
D) 0.45 to 1
Q3) The report on internal control required by the Sarbanes-Oxley Act of 2002 may be prepared by either management or the company's auditors.
A)True
B)False
Q4) Percentage analyses, ratios, turnovers, and other measures of financial position and operating results are
A) a substitute for sound judgment.
B) useful analytical measures.
C) enough information for analysis, industry information is not needed.
D) unnecessary for analysis, but reaction is better.
Q5) Define solvency and profitability. How are they alike?
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Chapter 15: Managerial Accounting Concepts and Principles
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Sample Questions
Q1) Which of the following is most associated with managerial accounting?
A) Must follow GAAP
B) May rely on estimates and forecasts
C) Is prepared for users outside the organization.
D) Always reports on the entire entity
Q2) Operating expenses are product costs and are expensed when the product is sold.
A)True
B)False
Q3) Cost of oil used to lubricate factory machinery and equipment is an example of a direct materials cost.
A)True
B)False
Q4) The cost of wages paid to employees directly involved in the manufacturing process in converting materials into finished product is classified as:
A) factory overhead cost
B) direct labor cost
C) miscellaneous costs
D) direct materials cost
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