|
Budget reports comparing actual results with planned objectives should be prepared only once a year.
Answer
|
• Question 2
1 out of 1 points
|
|
|
|
|
A static budget is changed only when actual activity is different from the level of activity expected.
Answer
|
• Question 3
1 out of 1 points
|
|
|
|
|
Management by exception means that management will investigate areas where actual results differ from planned results if the items are material and controllable.
Answer
|
• Question 4
1 out of 1 points
|
|
|
|
|
Budget reports provide the feedback needed by management to see whether actual operations are on course.
Answer
|
• Question 5
1 out of 1 points
|
|
|
|
|
The manager of an investment center can improve ROI by reducing average operating assets.
Answer
|
• Question 6
1 out of 1 points
|
|
|
|
|
What is budgetary control?
Answer
|
• Question 7
1 out of 1 points
|
|
|
|
|
A static budget is appropriate in evaluating a manager’s performance if
Answer
|
• Question 8
1 out of 1 points
|
|
|
|
|
What is the primary difference between a static budget and a flexible budget?
Answer
|
• Question 9
1 out of 1 points
|
|
|
|
|
If a company plans to sell 48,000 units of product but sells 60,000, the most appropriate comparison of the cost data associated with the sales will be by a budget based on
Answer
|
• Question 10
1 out of 1 points
|
|
|
|
|
Nikoto Steel Co. budgeted manufacturing costs for 50,000 tons of steel are:
Fixed manufacturing costs $50,000 per month
Variable manufacturing costs $12.00 per ton of steel
Nikoto produced 40,000 tons of steel during March. How much is the flexible budget for total manufacturing costs for March?
Answer
|
• Question 11
1 out of 1 points
|
|
|
|
|
At 18,000 direct labor hours, the flexible budget for indirect materials is $36,000. If $37,400 are incurred at 18,400 direct labor hours, the flexible budget report should show the following difference for indirect materials:
Answer
|
• Question 12
1 out of 1 points
|
|
|
|
|
Top management can control
Answer
|
• Question 13
1 out of 1 points
|
|
|
|
|
A manager of a cost center is evaluated mainly on
Answer
|
• Question 14
0 out of 1 points
|
|
|
|
|
Given below is an excerpt from a management performance report:
Budget Actual Difference
Contribution margin $600,000 $580,000 $20,000 U
Controllable fixed costs $200,000 $220,000 $20,000 U
The manager’s overall performance
Answer
|
• Question 15
1 out of 1 points
|
|
|
|
|
Bogey Co. recorded operating data for its Cheap division for the year. Bogey requires its return to be 10%.
Sales $ 1,400,000
Controllable margin 160,000
Total average assets 4,000,000
Fixed costs 100,000
What is the ROI for the year?
Answer
|
• Question 16
1 out of 1 points
|
|
|
|
|
A measure frequently used to evaluate the performance of the manager of an investment center is
|
• Question 17
1 out of 1 points
|
|
|
|
|
What is the goal of residual income?
Answer
|
• Question 18
1 out of 1 points
|
|
|
|
|
Which of the following would not be considered an aspect of budgetary control?
Answer
|
• Question 19
1 out of 1 points
|
|
|
|
|
All of the following statements are correct about management by exception except it
Answer
|
• Question 20
12 out of 12 points
|
|
|
|
|
Match the items below by entering the appropriate code letter in the space provided.
Answer
|
No comments:
Post a Comment