Managerial Accounting Final

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budgets are

future oriented

hosbach corp expects no waste and no inefficiencies in the production process this type of standard is refer to as

ideal standard

A direct materials budget would be used in which of the following types of​ companies?

manufacturing

Which of the following budgets is the comprehensive planning document for the entire organization?

master budget

if the sales revenue volume variance is favorable, then it is likely that

more units were actually sold than the company had originally budgeted to sell

Which of the following budgets would NOT be prepared by a service company?

production budget

the usual starting point for a direct labor budget for a manufacturer is the

production budget

what variances make up the direct labor variance

rate variance and efficiency variance

What two variances make up the direct labor​ variance?

rate variance and efficiency variance.

Which of the following would appear on both the budgeted income statement and the cash budget?

rent expense

what will happen to return on investment (roi) if total assets decrease while everything else remains the same

roi will increase over time

Usually, the first step in the budgetary process is the preparation of the

sales budget

Budget committees would include all of the follow except

shareholder

Which of the following is NOT an advantage of using standard costs and variances?

A. Changes behavior of managers to obtain desired variances

a company expects to receive which of the following e=benefits when it uses its budgeting process

all of the listed items are benefits of the budget process

A retailer is considering whether to invest in a warehouse routing system that costs​ $1,200,000, has a​ $100,000 residual​ value, and should lead to cost savings of​ $275,000 per year for its​ five-year life. In calculating the accounting rate of return​ (ARR), which of the following numbers should be used as the ARR​ equation's denominator?

1.2 mil

Which type of budgeting involves the participation of many levels of management?

Participative budgeting

After a company has made an investment in a capital​ asset, what will it conduct to compare the actual net cash inflows to the projected net cash​ inflows?

Post audit

1. Which of the following is NOT true of the budgeting process?

The performance report is prepared as part of the master budget.

What does a linear trendline indicate?

There is a strong relationship between x and y.

which perspective of the balanced scorecard would number or repeat customers be

customer

At lean​ companies, employees tend to be​ multi-skilled and​ cross-trained to perform a variety of tasks. These workers are valued by management and are considered to be part of the team rather than a labor force to be handled and controlled.​ Consequently, this

decreases the importance of direct labor standards.

A company receives an unusually high number of orders. To complete all the orders on​ time, the company pays employees an extra​ $10 per hour for every hour of overtime the employees work. Which of the following variances will be directly​ impacted?

direct labor rate variance

The variable overhead rate variance may be caused by variances in the following production inputs except

direct materials

a company receives an unusually high number of orders. to compete all the orders on time the company pays employees an extra $10 per hour for every hour of overtime the employees work. which of the following variances will be directly impacted

direct materials price variance

mitchell bakery uses butter in producing its pies, if the piece of butter doubles which variance is directly impacted

direct materials price variance

andrew taylor - a production line worker at yani yogurt spilled an entire vat of milk. the milk must be discarded rather than used in yogurt. which variance is directly impacted

direct materials quantity variance

which type of variance causes operating income to be higher than the budgeted operating income

favorable variance

johnson and johnson's consumer healthcare division that manufactures and sells products including band aid, nuetrogenam and listerine is most likely treated as a

investment center

the income statement is part of which element of a companys master budget

the operating budget

which of the follow is the starting point for the master budget

the sales budget

decentralization would typically not be based on

total revenue

A manager purchased better quality materials for a slightly higher cost than anticipated. However, as a result, spoilage was less than normal. What is the effect on the price and quantity variances respectively?

unfavorable, favorable


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