Accounting

Question: Under variable costing, fixed manufacturing costs are classified as:
A
period costs.

B
product costs.

C
Both.

D
None

Note: Not available
1. Report
Question: Budgetary control involves all but one of the following:
A
modifying future plans.

B
analysis differences.

C
using static budgets.

D
determining differences between actual and planned result.

Note: Not available
1. Report
Question: A static budget is useful in controlling costs when cost behaviour is:
A
mixed.

B
fixed.

C
variable.

D
linear.

Note: Not available
1. Report
Question: At zero direct labor hours in a flexible budget graph, the total budgeted cost line intersects the vertical axis at $30,000. At 10,000 direct labor hours, a horizontal line drawn from the total budgeted cost line intersects the vertical axis at $90,000. Fixed and variable costs may be expresses as:
A
$30,000 fixed plus $6 per direct labor hour variable.

B
$30,000 fixed plus $9 per direct labor hour variable.

C
$60,000 fixed plus $3 per direct labor hour variable.

D
$60,000 fixed plus $6 per direct labor hour variable.

Note: Not available
1. Report
Question: At 9,000 direct labor hours, the flexible budget for indirect materials is $27,000. If $28,000 of indirect materials costs are incurred at 92,00 direct labor hours, the flexible budget report should show the following difference for indirect materials:
A
$1000 unfavorable.

B
$1000 favourable.

C
$400 favourable.

D
$400 unfavourable.

Note: Not available
1. Report
Question: Under responsibility accounting, the evaluation of a manager's performance is based on matters that the manager:
A
directly controls.

B
directly and indirectly controls.

C
indirectly controls.

D
All.

Note: Not available
1. Report
Question: Responsibility centers include:
A
cost centers.

B
profit centers.

C
investment centers.

D
All

Note: Not available
1. Report
Question: Responsibility reports for cost centers:
A
distinguish between fixed and variable costs.

B
use static budget data.

C
include both controllable and noncontrollable costs.

D
include only controllable costs.

Note: Not available
1. Report
Question: In a responsibility report for a profit center, controllable fixed costs are deducted from contribution margin to show:
A
profit center margin.

B
controllable margin.

C
net income.

D
income from operation.

Note: Not available
1. Report
Question: In a formula for return on investment (RIO), the factors for controllable margin and operating assets are respectively:
A
controllable margin percentage and total operating assets.

B
controllable margin dollars and average operating assets.

C
controllable margin dollars and total assets.

D
controllable margin percentage and average operating assets.

Note: Not available
1. Report

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Question: Under variable costing, fixed manufacturing costs are classified as:

Question: Budgetary control involves all but one of the following:

Question: A static budget is useful in controlling costs when cost behaviour is:

Question: At 9,000 direct labor hours, the flexible budget for indirect materials is $27,000. If $28,000 of indirect materials costs are incurred at 92,00 direct labor hours, the flexible budget report should show the following difference for indirect materials:

Question: Under responsibility accounting, the evaluation of a manager's performance is based on matters that the manager:

Question: Responsibility centers include:

Question: Responsibility reports for cost centers:

Question: In a responsibility report for a profit center, controllable fixed costs are deducted from contribution margin to show:

Question: In a formula for return on investment (RIO), the factors for controllable margin and operating assets are respectively: