MA Week 1 - Introduction

Question 1

Question

This graph is an example of which kind of cost?

Image:

Snip20180411 1 (binary/octet-stream)

Answer

Fixed
Variable
Inventoriable
Period

Question 2

Question

This graph is an example of which kind of cost?

Image:

Snip20180411 2 (binary/octet-stream)

Answer

Fixed
Variable
Inventoriable
Period

Question 3

Question

Identify which of these costs are INVENTORIABLE? Each of the following cost items pertains to one of these companies: Westinghouse (a manufacturing sector company), Kmart (a retail sector company) and Google (a service sector company)

Answer

Mineral water purchased by Kmart for sale to its customers
Electricity used to provide lighting for assembly line workers at a Westinghouse refrigerator assembly plant
Depreciation on Google's computer equipment used to update directories of websites
Electricity used to provide lighting for Kmart's store aisles
Depreciation on Westinghouse's computer equipment used for quality testing of refrigerator components during the assembly process
Salaries of Kmart's marketing personnel planning local newspaper advertising campaigns
Mineral water purchased by Google for consumption by its software engineers
Salaries of Google's marketing personnel selling banner advertising

Question 4

Question

What is the purpose of management accounting?

Answer

To help managers make decisions to fulfil an organisation's goals
To communicate organisation's financial position to investors, banks, regulators and other outside parties

Question 5

Question

Which is the correct value chain?

Answer

Research and Development Design of products, services or processes Production Marketing Distribution Customer Service
Design of products and services Production Marketing Distribution Review and Assess
Research and Development Design of products, services or processes Assembly Distribution
Research and Development Production Advertising Distribution Customer Service

Question 6

Question

Which of these is NOT a Management Accounting Principles (CIMA)? (2)

Answer

Integrity
Objectivity
Competence and due care
Confidentiality
Professional behaviour
Respect
Responsibility

Question 7

Question

Which of these can be cost objects?

Answer

Product
Services
Project
Customers
Activity
Department

Question 8

Question

Overhead is any manufacturing cost that is not direct materials or direct labour

Answer

True
False

Question 9

Question

How much does it cost to produce 2,000 boxes?

Image:

Ma1 (binary/octet-stream)

Answer

$5,500
$5,000
$10,000
$10,500

Question 10

Question

How much does it cost to produce one box?

Image:

Ma1 (binary/octet-stream)

Answer

$502.50
$2.75
$500
$2.50

Question 11

Question

Budget for 1,000 units How much of lighting should be distributed to each unit?

Image:

Ma2 (binary/octet-stream)

Answer

$0.50
$500
$2.50
$3

Question 12

Question

Budget for 1,000 units What is the value of 2,000 units in the Finished Goods inventory?

Image:

Ma2 (binary/octet-stream)

Answer

$6,000
$5,500
$5,000
$6,500

Question 13

Question

Budget for 1,000 units What is the value of 1 unit in the Finished Goods inventory?

Image:

Ma2 (binary/octet-stream)

Answer

$3
$2.50
$2.75
$0.5

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MA Week 1 - Introduction

Description

Resource summary

Question 1

Question 2

Question 3

Question 4

Question 5

Question 6

Question 7

Question 8

Question 9

Question 10

Question 11

Question 12

Question 13

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	Created by Alexis Wyatt over 6 years ago