Question

Understand only one can be answered but I give a thumbs up for giving the extra effort.

Control of organization is achieved by evaluating the performance of:

A. man agers only:

B. Operations only:

C. managers and operations:

D. None of the above

Performance reports facilitate the use of:

A. incremental analysis

B. Man agreement by exception

C. Budgeting

D. Non-monetary data

An example of non-monetary information is the:

A. cost of materials

B. fixed costs for a period of time

C. number of product defects

D. value of the benefit forgone from selecting one alternative over another.

Which of the following is not a characteristic of managerial accounting?

A. it must comply with GAAP.

B. It Stresses future transactions

C. it emphasizes detailed information

D. It is aimed primarily at internal users.

The wages lost when you give up your job to attend school full-time is an example of

A. fixed costs

B. opportunity cost

C. Direct cost

D. Sunk cost

The cost of a machine purchased last year is an example of

A. opportunity cost

B. Variable Cost

C. Fixed Cost

D. Sunk Cost

Assume a company incurs $100,000 for total variable costs and $150,000 for total fixed costs to produce 10,000 units. What would the total cost be to produce 12,000 units?

A. $27,000

B $30,000

C. $250,000

D. $280,000

Company code of ethics aren't always a good guide to ethical behavior because.

A. they often specify what should be done.

B. they often specify what cant be done

C. they focus more on what's right than legal

D. They focus more on cost than on profit.

The top managerial accounting position is held by the:

A. CFO

B. Treasurer

C. controller

D auditor

Answer 1

Control of organization is achieved by evaluating the performance of:

C. managers and operations:

Explanation: To gain control over organization, it is important to evaluate performance of both

Performance reports facilitate the use of:

C. Budgeting

Explanation: performance reports are based on budgets

An example of non-monetary information is the:

C. number of product defects

Explanation: It is expressed in Numbers and not money, rest all are expressed in money

Which of the following is not a characteristic of managerial accounting?

A. it must comply with GAAP.

Financial accounting complies with GAAP and there no such requirement for Managerial accounting

The wages lost when you give up your job to attend school full-time is an example of

B. opportunity cost

Opportunity cost is the value of benefit foregone of the next best alternative.

The cost of a machine purchased last year is an example of

D. Sunk Cost

Sunk Cost is the cost which has already been incurred and cannot be changed

Assume a company incurs $100,000 for total variable costs and $150,000 for total fixed costs to produce 10,000 units. What would the total cost be to produce 12,000 units?

Variable cost per unit = 100,000/10,000 = $10

Total Cost = 12,000*10 + 150,000 = $270,000

Note: Fixed costs do not change with the change in output

The top managerial accounting position is held by the:

A. CFO