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Frage 1
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The purpose of a flexible budget is to:
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remove items from performance reports that are not controllable by managers.
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permit managers to reduce the number of unfavorable variances that are reported.
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update the static planning budget to reflect the actual level of activity of the period.
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reduce the amount of conflict between departments when the master budget is prepared
Frage 2
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A static budget:
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should be compared to actual costs to assess how well costs were controlled.
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should be compared to a flexible budget to assess how well costs were controlled
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is valid for only one level of activity.
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represents the best way to set spending targets for managers
Frage 3
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In computing the margin in a ROI analysis, which of the following is used?
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Sales in the denominator
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Net operating income in the denominator
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Average operating assets in the denominator
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Residual income in the denominator
Frage 4
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Which of the following will not result in an increase in the residual income, assuming other factors remain constant?
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An increase in sales
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An increase in the minimum required rate of return
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A decrease in expenses
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A decrease in operating assets
Frage 5
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All other things the same, which of the following would increase residual income?
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Increase in average operating assets
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Decrease in average operating assets
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Increase in minimum required return
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Decrease in net operating income
Frage 6
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Which of the following three statements are correct?
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A profit center has control over both cost and revenue
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An investment center has control over invested funds, but not over costs and revenue
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A cost center has no control over sales.
Frage 7
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The purpose of the Data Processing Department of Falena Corporation is to assist the various departments of the corporation with their information needs free of charge. The Data Processing Department would best be evaluated as a:
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Cost center
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Revenue center
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profit center
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investment center
Frage 8
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Actual Revenues > Budgeted Revenues
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Favorable
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Unfavorable
Frage 9
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Actual Revenues < Budgeted Revenues
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Favorable
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Unfavorable
Frage 10
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Actual Expenses > Budgeted Expenses
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Favorable
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Unfavorable
Frage 11
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Actual Expenses < Budgeted Expenses
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Favorable
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Unfavorable
Frage 12
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For Costs:
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(+)Unfavorable (-) Favorable
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(-)Unfavorable (+)Favorable
Frage 13
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For Sales:
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(+)favorable (-)unfavorable
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(-)favorable (+)unfavorable
Frage 14
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Final, delivered cost of materials, net of discounts
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Price Standards
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Quality Standards
Frage 15
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Use product design specifications
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Price Standards
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Product standards
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Rate Standards
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Activity Standards
Frage 16
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Use wage surveys and labor contracts
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Rate Standards
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Time Standards
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Quality Standards
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Price Standards
Frage 17
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Use time and motion studies for each labor operation
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Time standards
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Rate standards
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Activity Standards
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Price standards
Frage 18
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The activity is the base used to calculate the POH
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Activity Standards
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Rate standards
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Price standards
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Quality Standards
Frage 19
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Which variance involves the quantity purchased?
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Price Variance
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Quantity Variance
Frage 20
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Which variance involves quantity used?
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Price Variance
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Quantity variance
Frage 21
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Who is generally responsible for rate variances?
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Production Managers
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Purchasing Managers
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General Managers
Frage 22
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Segment whose manager has control over both costs and revenues, but no control over investment funds.
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Cost Center
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Profit Center
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Investment Center
Frage 23
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Segment who's manager has control over costs, revenues, and investments in operating assets
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Cost Center
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Profit Center
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Investment Center
Frage 24
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The Cost, Profit and Investment Centers all fall under what Center
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Responsibility
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Managerial
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Planning
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Budgeting
Frage 25
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Income before interest and taxes
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Net operating income
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real income
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average operating assets
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none of the above
Frage 26
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What falls under "average operating assets"
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Cash
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Accounts Recievable
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Inventory
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Plant & Equipment
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Income
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Revenues
Frage 27
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ROI=
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Net operating income/average operating income
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Average operating income/net operating income
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Sales/net operating income
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average operating income/sales
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Margin x Turnover
Frage 28
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What are 3 ways to improve ROI
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Increase Sales
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Reduce Expenses
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Reduce assets
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Decrease sales
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Increase assets
Frage 29
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Margin=
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Net operating income/average operating assets
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sales/assets
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Net operating income/sales
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Average operating assets/sales
Frage 30
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Turnover=
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Net operating income/average operating assets
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Sales/net operating income
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average operating assets/sales
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sales/average operating assets
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