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Pregunta 1
Pregunta
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
Pregunta 2
Pregunta
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
Pregunta 3
Pregunta
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
Pregunta 4
Pregunta
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
Pregunta 5
Pregunta
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
Pregunta 6
Pregunta
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.
Pregunta 7
Pregunta
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
Pregunta 8
Pregunta
Actual Revenues > Budgeted Revenues
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Favorable
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Unfavorable
Pregunta 9
Pregunta
Actual Revenues < Budgeted Revenues
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Favorable
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Unfavorable
Pregunta 10
Pregunta
Actual Expenses > Budgeted Expenses
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Favorable
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Unfavorable
Pregunta 11
Pregunta
Actual Expenses < Budgeted Expenses
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Favorable
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Unfavorable
Pregunta 12
Pregunta
For Costs:
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(+)Unfavorable (-) Favorable
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(-)Unfavorable (+)Favorable
Pregunta 13
Pregunta
For Sales:
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(+)favorable (-)unfavorable
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(-)favorable (+)unfavorable
Pregunta 14
Pregunta
Final, delivered cost of materials, net of discounts
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Price Standards
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Quality Standards
Pregunta 15
Pregunta
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
Pregunta 16
Pregunta
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
Pregunta 17
Pregunta
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
Pregunta 18
Pregunta
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
Pregunta 19
Pregunta
Which variance involves the quantity purchased?
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Price Variance
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Quantity Variance
Pregunta 20
Pregunta
Which variance involves quantity used?
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Price Variance
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Quantity variance
Pregunta 21
Pregunta
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
Pregunta 22
Pregunta
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
Pregunta 23
Pregunta
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
Pregunta 24
Pregunta
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
Pregunta 25
Pregunta
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
Pregunta 26
Pregunta
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
Pregunta 27
Pregunta
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
Pregunta 28
Pregunta
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
Pregunta 29
Pregunta
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
Pregunta 30
Pregunta
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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