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BUS 302L Managerial Acc Exam
Questions and Answers |100% Pass
A company sells pretzels for $1.50/bag. Their February ending inventory was $1,600. Marketing
prepares the following forecast: January 15,000 bags
February 12,000 bags
March 16,000 bags
Total 43,000 bags
Projected sales for April are 13,000 bags. Try to maintain 10% of the next month's forecasted sales in
inventory. What is the projected for March? - Answer✔✔-13,000*10%= 1,300
March: 16,000
Feb ending inv: (1,600)
=1,300+16,000-1,600 = 15,700
Same info as no 1. What is the sales budget for January? - Answer✔✔-Jan: 15,000
Feb: 12,000*10%=1,200
16,200*1.50
=24,300
budgets are - Answer✔✔-uses by individuals, staffs, managers department
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FIRST PUBLISH SEPTEMBER 2024
management accounting place more emphases on which of the following: - Answer✔✔-future activities
a listing of line item that the organization will use to classify its accounting information is - Answer✔✔-
balance sheet
RABBIT - Answer✔✔-$11.00
the brothers sell pretzels for $150 per bag, marketing prepares the following sales forecast for the 1st
quarter of the year - Answer✔✔-(15,000+12,000+16,000=43,000
43,000*150= 6,450,000)
compute the fixed cost
DM: 100,000
DL: 150,000
OH: 75,000
Sales: 120,000 - Answer✔✔-Fixed cost will be overhead 75,000
or none of the above
the primary purpose for carrying on "cost accounting activity" is - Answer✔✔-to plan operation
NPV and IRR no true - Answer✔✔-NPV alone can be used to compare investments of different sizes
company z (long question) what is the fixed cost? - Answer✔✔-20% of the sales revenue
The amount of overhead applied to a product or service is normally calculated by. - Answer✔✔-divide
estimate overhead by estimated units of the cost driver
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FIRST PUBLISH SEPTEMBER 2024
comparing actual outcomes with budget outcomes, then following up, is an example of - Answer✔✔-
operating activities
which of the following is typically a starting point for the budget process? - Answer✔✔-a sales budget
Selected sales and cost data for a special job are given below
Direct material used 100,000
Direct labor 150,000
Factory overhead (100% direct, 40% variable) 75,000
Selling and administration (50% direct, 60% variable) 120,000... compute the total cost - Answer✔✔-
100,000+150,000+30,000(75,000*40%)+72,000(120,000*60%)
=352,000
tax accounting is generally most used by - Answer✔✔-internal revenue service (IRS)
the term "product cost" as used in cost and managerial accounting context means - Answer✔✔-all
manufacturing or production cost of the product
which of the following organization would most likely be most likely to adopt a process costing system? -
Answer✔✔-paper manufacture
the discount rate for use in capital budgeting decision is also referred to as - Answer✔✔-the minimum
rate of required rate of return
scuffy has the following product information
Sales price $7.50 per unit
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