ACCT 526 Complete Q&A Exam Bundle!

Which of the following is not one of the three types of inventories of a manufacturing company? Product Inventory Management accounting systems are designed to asset organizations in the performance of all the following functions except The preparation of income tax returns Which of the following ...

Budgets can be improved as performance measures by: a. using fixed budgeting. b. using participative budgeting. c. setting standards that are either too high or too low. d. holding managers accountable for noncontrollable costs. b. using participative budgeting. _____ is an example of a monetary in...

Job one distinct unit or set of units. Job-order costing system a costing system in which costs are accumulated by job. Process-costing system a costing system that accumulates production costs by process or by department for a given period of time. Unit costs are computed by dividing the process ...

c. Units to Be Produced = Expected Units Sales + Units in Desired Ending Inventory + Units in Beginning Inventory Which of the following formulas is used to compute units to be produced while preparing a production budget? a. Units to Be Produced = Expected Production Units - Ending Inventory Units...

Margin is sales divided by assets, and turnover is operating income divided by sales.False If a company has sales of $80,000, operating income of $5,000, and assets of $20,000, it's ROI is 25%.True ROI=Margin X turnover Margin=Operating Income/ Sales Turnover=Sales/ Assets Transfer price is th...

unit-level activities activities that are performed each time a unit is produced. non-unit-level activity drivers factors that measure the consumption of non-unit-level activities by-products and other cost objects. examples: - batch - product-sustaining - facility-sustaining unit-level activity ...

Visual Manufacturing produces two types of cameras: 35mm and digital. The cameras are produced using one continuous process. Four activities involved in the production have been identified as: machining, setups, receiving, and packing. Resource drivers have been used to assign costs to each activity...

a. These costs will continue to exist even if one segment or product is eliminated. Which of the following is true of direct fixed expenses? a. These costs will continue to exist even if one segment or product is eliminated. b. These costs can be traced to a particular segment. c. These costs chang...

product costs consist of the three elements of manufacturing cost: DM, DL, MOH period costs costs that are expenses in the period in which they are incurred income statement where are the period costs found manufacturing overhead costs that cannot be practically traced to the end product predete...

Cost Behavior The foundation upon which managerial accounting is built and the general term for describing whether a cost changes when the level of output changes. The provision of accounting information for internal users is known as a. financial accounting. b. managerial accounting. c. accountin...

Cost Driver a causal factor that measures the output of the activity that leads (or causes) costs to change Relevant Range the range of output over which the assumed cost relationship is valid for the normal operations of a firm Discretionary Fixed Costs fixed costs that can be changed or avoided ...

cost the amount of cash or cash equivalent sacrificed for goods and/or services that are expected to bring a current or future benefit to the organization expenses expired costs price revenue per unit cost object any item such as a product, customer, department, project, geographic region, ...

Incremental analysis focuses on the effect of alternative courses of action on the relevant revenues and costs Relevant revenue amount of increase or decrease in revenue expected from a course of action as compared with an alternative Relevant cost amount of increase or decrease in cost that is ex...

A cost that is variable in nature but whose rate of change is not constant is called a: ant variable cost. etionary variable cost. -variable cost. tted variable cost. -variable cost. Which of the following is an example of a variable cost for a manufacturing unit? a.Plant supervisor's salar...