BUSI 2083 INTRODUCTION TO MANAGERIAL ACCOUNTING Mid Term Exam with complete Solutions;Yorkville University
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Course
BUSI 2083
Institution
BUSI 2083
Title of Course- Introduction to Managerial Accounting Exam – BUSI2083
VERSSION B
Student’s Name: Student’s ID:
Date: Time:
Section: Instructor:
General Instructions
•You have 2h to complete the exam.
•This Final Exam is worth 25 % of your final grades.
•Do not open this ...
Title of Course- Introduction to Managerial Accounting
Exam – BUSI2083
VERSSION B
Student’s Name: Student’s ID:
Date: Time:
Section: Instructor:
General Instructions
•You have 2h to complete the exam.
•This Final Exam is worth 25 % of your final grades.
•Do not open this exam paper until told to do so.
•No papers, cellphones, briefcases, or any other cases are allowed at student desks while the
examination is in progress. No books, notes, formula sheets, electronic dictionaries etc. are
allowed unless specified by the examining instructor.
•Coats, jackets, or any other article of clothing not being worn may not be left at student desks
during the examination.
•Student must place his/her student I.D. card face up on the desk in the right-hand corner. No
student will be allowed to write an examination without her/his student I.D. card.
• NO TOLERANCE for dishonesty of academic integrity /cheating/looking into someone/
observing another student’s examination. Your invigilator will seize your paper and will result in
automatic ZERO.
,•Students are not permitted to leave the classroom during an exam. If they insist on doing so,
they will not be allowed to re-admit.
GOODLUCK
BUSI 2083 INTRODUCTION TO MANAGERIAL ACCOUNTING
Mid Term Exam Name
Student Id
State True or False (20)
1. The formula for the break-even point is the same as the formula to attain a given target profit for the
special case where the target profit is zero.
A. TRUE
B. FALSE
2. All the following would typically be considered indirect costs of manufacturing a particular Boeing 747
to be delivered to Singapore Airlines: electricity to run production equipment, the factory manager's
salary, and the cost of the General Electric jet engines installed on the aircraft.
A. TRUE
B. FALSE
3. Sunk costs are irrelevant in making decisions.
A. TRUE
B. FALSE
4. On a per unit basis, the fixed cost varies inversely with the level of activity.
A. TRUE
B. FALSE
5. In activity-based costing, a plantwide overhead rate is used to apply overhead to products.
A. TRUE
B. FALSE
6. Indirect costs, such as manufacturing overheads, are always fixed costs.
A. TRUE
B. FALSE
, 7 The inventory accounts reported on the balance sheet of a manufacturing company will differ from
those of a merchandising company.
A. TRUE
B. FALSE
8. Property taxes and insurance premiums paid on a factory building are examples of manufacturing
overhead.
A. TRUE
B. FALSE
9. Batch-level activities are performed each time a batch is handled or processed, regardless of how
many units are in the batch.
A. TRUE
B. FALSE
10. Management accountants are not required to follow the generally accepted accounting principles
used for external financial reporting when preparing reports for internal users.
A. TRUE
B. FALSE
Chose the correct option (20)
11. The cost of fire insurance for a manufacturing plant is generally considered to be a:
a) product cost.
b) period cost.
c) variable cost.
d) fixed cost
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