Managerial Accounting
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Question 1
10 out of 10 points
Segment margin is calculated as follows:
Answer
Selected Answer:
Revenues less direct costs.
Correct Answer:
Revenues less direct costs.
Question 2
10 out of 10 points
Talladega Industries, Inc., (TII) developed the following standard costs for direct material and direct labor for one of their major products, the 10-gallon plastic container.
During August, TII produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct labor hours at an average wage of $15.25 per hour.
Augusts direct material planning variance was:
Answer
Selected Answer:
indeterminable using the information provided
Correct Answer:
indeterminable using the information provided
Question 3
10 out of 10 points
The financing section of the expected cash flow statement includes:
Answer
Selected Answer:
dividends paid.
Correct Answer:
dividends paid.
Question 4
0 out of 10 points
To discover where to make improvements in productivity, managers might do all of the following EXCEPT:
Answer
Selected Answer:
calculate the ratio of output over input.
Correct Answer:
compare return on sales to a competitors return on sales.
Question 5
0 out of 10 points
The variance that LEAST affects cost control is the ________ variance.
Answer
Selected Answer:
direct material price
Correct Answer:
planning
Question 6
10 out of 10 points
These questions refer to flexible budget variance formulas with the following descriptions for the variables: A = Actual; P = Price; Q = Quantity; S = Standard.
The best label for the formula (AP – SP) x AQ is the:
Answer
Selected Answer:
materials price variance.
Correct Answer:
materials price variance.
Question 7
10 out of 10 points
Although planners update or revise the budgets during the period, ________ is typically performed once per year.
Answer
Selected Answer:
periodic budgeting
Correct