CHAPTER 1Which one of the following is considered component of the managing process? A. Measuring performance B. Implementing plans C. Formulating irreversible budgets D. Encouraging employees
CHAPTER 1Which of the following is a characteristic of managerial accounting? A. Must comply with GAAP B. Generates reports mostly for interior individuals C. Contains financial information only D. Emphasizes historic transactions
CHAPTER 1Which of the complying with statements is true? A. Financial accounting might deviate from GAAP. B. Managerial accountancy provides information generally for external customers. C. Managerial accounting offers even more detailed information than financial accountancy does. D. Financial accounting emphasizes future transactions.
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CHAPTER1Comparing actual results to intended results is an example of: A. decision making. B. planning. C. increpsychological evaluation D. controlling
CHAPTER 1Which of the complying with is not component of the planning and manage process? A. Preparing financial statements. B. Deciding whether to reward or punish supervisors. C. Implementing the arrangement. D. Comparing actual outcomes to planned results.
CHAPTER 1Monto Manufacturing produces widgets. Which one of the adhering to best explains a user of managerial accountancy information?A. A materials supplier of Monto ManufacturingB. A financial institution reviewing a loan application from Monto ManufacturingC. The Internal Revenue Service requesting Monto"s taxes returnD. A purchasing manager ordering products for Monto Manufacturing
CHAPTER 1 Which of the adhering to is not a characteristic of managerial accounting?A. It stresses future transactions.B. It emphasizes thorough indevelopment.C. It applies to both company and also production businesses.D. It is compelled by GAAP.
CHAPTER 1The informational needs of interior users a. are historic in nature b. emphasize the agency overall c. emphasize accuracy over timeliness d. execute not need to comply via the rules of GAAP
CHAPTER 1The components that decision makers should contemplate include: a. quantitative components b. qualitative components c. both quantitative and also qualitative components d. namong the above
CHAPTER 1Which is true?A. Accounting information consists of both quantitative and qualitative information provided by decision devices.B. Accounting indevelopment includes just qualitative indevelopment supplied by decision machines. C. Accounting indevelopment contains just quantitative indevelopment offered by decision make
A. Accounting indevelopment contains both quantitative and qualitative information supplied by decision devices.
CHAPTER 1 Smith Manufacturing is a firm that simply started operations. Which among the complying with ideal explains a user of managerial accountancy information?A. Crmodify Manager of a merchant for Smith ManufacturingB. Purchasing Manager for Smith ManufacturingC. Bank Manager reviewing a loan application from Smith ManufacturingD. IRS Divisional Manager reviewing the taxation return of Smith Manufacturing
CHAPTER 1 When comparing managerial accounting indevelopment through financial audit information, it is meant that managerial accountancy information wouldA. be based upon GAAP.B. emphadimension indevelopment on the agency all at once.C. existing estimates of future financial operations.D. incorporate an evaluation of historical cost.
CHAPTER 1What is the function of management accounting?A. To analyze previous accountancy informationB. To provide indevelopment to interior usersC. To recognize the cost of a job, service, or productD. To identify the profitcapacity of a companyE. All of the above.
CHAPTER 1Which of the following statements is true?A. Managerial bookkeeping need to comply via GAAP.B. Financial accountancy offers indevelopment mostly for inner customers.C. Financial accountancy gives more comprehensive information than managerial audit does.D. Managerial accountancy emphasizes future transactions.
CHAPTER 1What occurrence spawned a requirement for service providers to assess and also document their internal regulate structure?A. Establishment of GAAPB. Development of benchmarksC. Implementation of cash transactionsD. Tax Act of 2009E. SOX
CHAPTER 1Cost indevelopment helps toA. make pricing decisions.B. identify the worth of price of items sold on the income statement and also inventories on the balance sheet.C. evaluate the efficiency and efficiency of the company"s board of directors.D. A and B.
CHAPTER 1 Which of the following is not a characteristic of managerial accounting?A. It must comply through GAAP.B. It stresses future transactions.C. It emphasizes thorough information.D. It is aimed mostly at interior customers.
CHAPTER 1Which of the complying with is a characteristic of managerial accounting?A. Must comply via GAAPB. Geneprices reports generally for internal usersC. Contains monetary indevelopment onlyD. Emphasizes backward-looking analyses
CHAPTER 1The position responsible for the planning and regulating is:A. controller.B. treasurer.C. CFOD. managerial accountants.
CHAPTER 1What is the function of managerial accounting?A. To comply through GAAPB. To provide information to interior usersC. To recognize the price of a job, business, or productD. To determine the profitcapability of a companyE. All of the above.
CHAPTER 1Which of the adhering to is not component of the worth chain? A. Correction of faulty production methods in returned products B. Acquiring materials, provides, and services C. Selling and also marketing D. Deliincredibly to customers
CHAPTER 1Which of the complying with needs did the Sarbanes-Oxley Act of 2002 create? A. Companies should assess and record their inner regulate B. More duty is added to the price accountants of a agency. C. Companies should have a recorded value chain. D. A agency need to make certain all the actions in order to get it product or business to a customer are implemented.
CHAPTER 2Earle Traynham is the owner/manager of Dynacyne. Last year, in enhancement to paying himself a salary of $200,000, the firm earned a profit of $45,000 that stayed invested in the agency. Recently, a head hunter contacted Earle and asked him to intercheck out for a $200,000 per year position as controller of Cynadyne. What is the nature of the $200,000 salary if Earle chooses to remain employed at Dynacyne? Justify your answer.
-$200,000 is an opportunity price. If Earle continues to be employed at Dynacyne, he will "give up" the $200,000 salary....for this reason, a expense to him.
CHAPTER 2Canada Foods developed and also offered 100 telephones. Its total variable products expenses were $8,700. If production and also sales are intended to increase by 20% in June, recognize the complying with amounts for June: 1) Unit variable materials costs2) Total Variable Material costs
CHAPTER 2LeBaron Company kind of plans to develop and also offer 1,200 skateboards following year. Fixed costs complete $80,000. LeBaron sells each skateboard for $80. Total variable costs at 1,200 devices are $57,600. Management is considering decreasing the offering price to $75 each, yet this is most likely to reason the sales volume to boost to 1,300 units. How a lot is the incremental price connected with the changes?
Variable cost per unit = $57,600/1,200 = $48 each Increpsychological expense = $48*<1,300 - 1,200> = $4,800 There is no change in complete resolved prices.
CHAPTER 2 Werth"s Pizza developed and also marketed 1,000 pizzas last month via variable products expenses of $6,000. If production and also sales are expected to decrease by 25% next month, how a lot are unit variable expenses and total variable costs for next month?
CHAPTER 2Spackle Company has actually 7,500 shirts that are out of fashion. Their book worth is $50,000. The shirts may be reoperated into pillows that might be sold for $45,000. Alternatively, the shirts could be offered for $12,000 as scrap. In analyzing these alternatives, which amount is the sunk cost? Explain.
CHAPTER 2 Baal"s Donuts sells donuts to policemale for $4.00 per dozen. The donuts price $2.40 per dozen to develop. Eextremely Friday, the company provides a distinct and sells the donuts for $3.00 per dozen. Leftover donuts are given to the Homemuch less Center. As it relates to left over donuts on Friday, exactly how a lot is the sunk cost of the donuts?
$2.40 per dozen. This price emerged in the past and cannot be changed no issue what option is taken.
CHAPTER 2 Variable price per unit is budgeted to be $6.00 and also fixed cost per unit is budgeted to be $3.00 in a duration once 8,000 systems are developed. If manufacturing is actually 9,000 units, what is the supposed full price of the units produced?
CHAPTER 2Save, Inc. establishes and manufactures games. Save distinguishes in between variable and fixed manufacturing facility overhead in its price audit mechanism. Which among the adhering to is a benefit of this separation? A. It allows Save"s managers to determine which manager is leading to waste in the firm. B. It provides Save"s manufacturing managers via better top quality assets. C. It permits Save"s managers to predict expenses based upon behavior. D. It permits Save"s supervisors to omit the preparation of budgets.
CHAPTER 2The most necessary prices to take into consideration when making a decision involving future actions are A. sunk costs. B. opportunity expenses. C. out-of-pocket expenses. D. incremental prices.
CHAPTER 2Which of the complying with statements regarding fixed prices is true? A. When manufacturing increases, addressed cost per unit decreases. B. When manufacturing decreases, complete solved expenses rise. C. When manufacturing boosts, solved cost per unit rises. D. When manufacturing decreases, full resolved expenses decreases.
CHAPTER 2You own a vehicle and also are trying to decide whether or not to profession it in and buy a brand-new vehicle. Which of the adhering to costs is an opportunity cost in this situation? A. the trip to Europe that you will not have the ability to take if you buy the car B. the expense of the automobile you are trading in C. the cost of your gasoline for the coming year D. the cost of your automobile insurance last year
CHAPTER 2Which statement is true? A. Period prices are fixed and product expenses are variable. B. Sunk prices are the very same as period expenses. C. Product expenses contain both fixed and also variable prices. D. Cost of items sold has variable expenses, but no fixed prices.
CHAPTER 2Watts Inc. supplied manufacturing facility equipment to create a things with a $3 profit as soon as it might have used the equipment to create a different product that sells for $15 via a $5 profit. The a lot of most likely descriptor portrayed in this instance is A. an increpsychological price B. an chance expense C. a sunk cost D. a period cost
CHAPTER 2A hotel is deciding whether to rent 3 of its ten empty hotel rooms for $100 per room instead of the normal rate of $150 per room. Which among the following is an increpsychological cost for this decision? A. the depreciation expense of the furniture in the room B. the cost of washing towels and also sheets for the 3 rooms C. the expense of shampoo and soap for all of the rooms that are inhabited in the hotel for the night D. the labor expense of checking in the guests for the 3 rooms at 1 AM in the hotel
CHAPTER 2Lander Company leas out a tiny unused percentage of its factory to another agency for $1,000 per month. The rental agreement will expire next month, and also fairly than rebrand-new the agreement, Lander Company kind of is thinking about using the space itself to save materials. Which of the following is the the majority of correct label for the $1,000 amount? A. sunk expense B. opportunity expense C. duration price D. controllable cost
CHAPTER 2Lee Company plans to produce and offer 400 widgets with a variable cost per unit of $5. Total resolved expenses are approximated at $6,000. Lee sells each widget for $12. Lee is considering raising the marketing price to $13 each. Which expense amount is not incremental? A. $5 variable cost B. $6,000 addressed cost C. $12 offering price D. $400 profit increase
CHAPTER 2Handy, Inc. estimates the cost of rent to be $8,000 in June as soon as 8,000 devices are created. If rent is a solved expense, and if production is intended to boost to 9,000 systems in July, how much is the expected expense of July"s rent? A. $9,000 B. $8,000 C. $1,000 D. Not sufficient information to determine
CHAPTER 2Which statement explains a fixed cost? A. It varies in full at every level of task. B. The unit expense varies straight to the task level. C. Its unit cost varies inversely to the level of activity. D. It continues to be the very same per unit regardmuch less of task level.
CHAPTER 3 Sale Company type of created and also sold 5,000 tuples. At this level of manufacturing, each unit has actually a marketing price of $22, a variable cost of $10, and a fixed price of $5. How much is the total price if Sale produces and also sells 4,000 tuples?
Total addressed expense at 5,000 systems = 5,000 x $5 = $25,000Fixed cost is the exact same in complete regardless of the number of devices, so at 4,000 devices, FC = $25,000.Total expense at 4,000 units: Variable price = 4,000 x $10 = $40,000 Fixed price = $25,000 Total cost = $65,000
CHAPTER 3A local church desires to rent a hall for $3,000 a day to organize a Bingo fund raiser. Eexceptionally session of bingo needs a caller for $200. Tright here are gives that are required that price $3 per perchild playing bingo. On average each bingo player spends $20 and also 1,000 civilization attfinish each session. $10,000 in prizes are awarded each session. Determine the complete expenses for 1 session.
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CHAPTER 3Werth Company type of produces tie racks. The estimated fixed prices for the year are $288,000, and also the approximated variable expenses per unit are $14. Werth expects to develop and also sell 60,000 systems at a price of $20 per unit. Calculate the contribution margin proportion. Calculate the contribution margin of each tie rack.
CHAPTER 3Cato Company kind of provided the complying with information: Sales, $15,000; Variable product expenses, $3,000; variable operating prices, $2,000; fixed product prices, $2,500; and addressed operating expenses, $1,500.A. How much is gross margin?B. How a lot is contribution margin?
Horngren"s Financial & Managerial Accounting6th EditionBrenda L Mattison, Ella Mae Matsumura, Tracie Miller-Nobles
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