mid-exam

Câu Hỏi 1
Thirty percent of Sharp Company's sales are for cash and 70% are on account. Sixty
percent of the account sales are collected in the month of sale, 25% in the month
following sale, and 12% in the second month following sale. The remainder is
uncollectible. The following are budgeted sales data for the company:
January February March April
Total sales ............ $50,000 $60,000 $40,000 $30,000
Total cash receipts in April are expected to be:
Select one:
a.$31,560
b.$33,640
c.$35,200
d.$24,640
Phản hồi
Câu trả lời của bạn đúng
The correct answer is:
$33,640
Câu Hỏi 2
Đoạn văn câu hỏi
Klaren Corporation is comprised of two divisions: X and Y. X currently produces and
sells a gear assembly used by the automotive industry in electric window assemblies. X is
currently selling all of the units it can produce (25,000 per year) to external customers for
$25 per unit. At this level of activity, X's per unit costs are:
Variable:
Production $7
SG&A $2
Fixed:
Production $6
SG&A $5
Y Division wants to purchase 5,000 gear assemblies per year from X Division. Y
Division currently purchases these units from an outside vendor at $22 each.
What is the minimum price per unit that X Division could accept from Y Division for
5,000 units of the gear assembly and be no worse off than currently?
Select one:
a.$9
b.$25
c.$7
d.$15
Phản hồi
The correct answer is: $25
Câu Hỏi 3
Packaging Solutions Corporation manufactures and sells a wide variety of packaging
products. Performance reports are prepared monthly for each department. The planning
budget and flexible budget for the Production Department are based on the following
formulas, where q is the number of labor-hours worked in a month:
Cost Formulas
Direct labor . . . . . . . . . . . . . . . . . . . .$15.80q

Indirect labor . . . . . . . . . . . . . . . . . .$8,200 + $1.6q
Utilities . . . . . . . . . . . . . . . . . . . . . . .$6,400 + $0.8q
Equipment depreciation . . . . . . . . . .$23,000 + $3.7q
Factory rent . . . . . . . . . . . . . . . . . . $8,400
The actual costs incurred in March in the Production Department are listed below:
Direct labor . . . . . . . . . . . . . . . . . . . .$134,730
Indirect labor . . . . . . . . . . . . . . . . . . $19,860
Utilities . . . . . . . . . . . . . . . . . . . . . . . $14,570
Equipment depreciation . . . . . . . . . . $54,080
Factory rent . . . . . . . . . . . . . . . . . . $8,700
The company actually worked 8,400 labor-hours in March

Calculate total spending variance (chapter 2)?
Select one:
a.$0
b.$1,980U
c.$30F
d.$1,310U
Phản hồi Câu trả lời của bạn đúng
The correct answer is: $1,980U

Câu Hỏi 4
Managerial performance can be measured in many different ways including return on
investment (ROI) and residual income. A good reason for using residual income instead
of ROI is:
Select one:
a.Residual income can be computed without having to measure operating assets.
b.ROI does not take into account both turnover and margin.
c.A minimum rate of return does not have to be specified when the residual income
approach is used.
d.Managers are more likely to accept projects that are beneficial to the company.
Phản hồi
Managers are more likely to accept projects that are beneficial to the company.
Câu Hỏi 5 Đoạn văn câu hỏi
Roberts Company manufactures home cleaning products. One of the products,
Quickclean, requires 2 pounds of Material A and 5 pounds of Material B per unit
manufactured. Material A can be purchased from the supplier for $0.30 per pound and
Material B can be purchased for $0.50 per pound. The finished goods inventory on hand
at the end of each month must be equal to 4,000 units plus 25% of the next month's sales.
The raw materials inventory on hand at the end of each month (for either Material A or
Material B) must be equal to 80% of the following month's production needs.
Assume that the production budget calls for 26,000 units of Quickclean to be
manufactured in June and 32,000 units to be manufactured in July. On May 31 there will
be 104,000 pounds of Material B in inventory. The number of pounds of Material B to be
purchased during June would be:
Select one:
a.128,000
b.130,000
c.160,000
d.154,000
Phản hồi
The correct answer is: 154,000

Câu Hỏi 6
Which of the following will increase a company's manufacturing cycle efficiency
(MCE)?
Select one:
a.
Decrease in Inspection Time Decrease in Queue Time
c) No Yes
b.
a) Yes Yes
Đúng
c.
d) No No
d.
b) Yes No
Phản hồi
The correct answer is: Decrease in Inspection Time Decrease in Queue Time
a) Yes Yes
Câu Hỏi 7ĐúngĐạt điểm 0,50 trên 0,50Không gắn cờĐặt cờ
Which of the following is NOT an objective of the budgeting process?
Select one:
a.
To communicate management's plans throughout the entire organization.
b.
To uncover potential bottlenecks before they occur.
c.
To ensure that the company continues to grow.
Đúng
d.
To provide a means of allocating resources to those parts of the organization
where they can be used most effectively.
Phản hồi

To ensure that the company continues to grow.
A variable overhead spending variance is caused by
Select one:
a.
both b and c are causes.
Đúng
b.
Paying a higher/lower average actual overhead price per unit of the activity base than the
standard price allowed per unit of the activity base.
c.
Larger/smaller waste and shrinkage associated with the resources involved than expected.
d.
Using more or fewer actual hours than the standard hours allowed for the production
achieved.
Phản hồi

both b and c are causes.
The following July information is for Mickey Company:
Standards:
Material Labor: 3.0 feet per unit @ $4.20 per foot
Actual: 2.5 hours per unit @ $7.50 per hour
Actual:
Production: 2,750 units produced during the month
Material: 8,700 feet used; 9,000 feet purchased @ $4.50 per foot
Labor: 7,000 direct labor hours @ $7.90 per hour
What is the material price variance (calculated at point of purchase)?
(Round all answers to the nearest dollar.)

Select one:
a.
$2,610 U
b.
$2,700 U
Đúng
c.
$2,700 F
d.
$2,610 F
Phản hồi
$2,700 U
Sunrise Company uses a standard cost system for its production process and applies
overhead based on direct labor hours. The following information is available for August
when Sunrise made 4,500 units:
Standard:
DLH per unit 2.5
Variable overhead per DLH $1.75
Fixed overhead per DLH $3.1
Budgeted variable overhead $21,875
Budgeted fixed overhead $38,750750
Actual:
Direct labor hours 10,000
Variable overhead $ 26,250

Fixed overhead $38,000
Using the two-variance approach, what is the controllable variance?
Select one:
a.
$4,375.00 U
b.
$4,375.00 F
c.
$5,812.50 U
Đúng
d.
$5,812.50 F
Phản hồi
$5,812.50 U
Sunrise Company uses a standard cost system for its production process and applies
overhead based on direct labor hours. The following information is available for August
when Sunrise made 4,500 units:
Standard:
DLH per unit 2.5
Variable overhead per DLH $1.75
Fixed overhead per DLH $3.1
Budgeted variable overhead $21,875
Budgeted fixed overhead $38,750750
Actual:
Direct labor hours 10,000
Variable overhead $ 26,250

Fixed overhead $38,000
Using the four-variance approach, what is the volume variance?
Select one:
a.
$3,875 F
b.
$3,125 F
c.
$3,875 U
Đúng
d.
$6,063 U
Phản hồi

$3,875 U
Computer Solutions Corporation manufactures and sells various high-tech office
automation products. Two divisions of Office Products Inc. are the Computer Chip
Division and the Computer Division. The Computer Chip Division manufactures one
product, a "super chip," that can be used by both the Computer Division and other
external customers. The following information is available on this month's operations in
the Computer Chip Division:
Selling price per chip $50
Variable costs per chip $20
Fixed production costs $60,000
Fixed SG&A costs $90,000
Monthly capacity 10,000 chips
External sales 6,000 chips
Internal sales 0 chips
Presently, the Computer Division purchases no chips from the Computer Chips Division,
but instead pays $45 to an external supplier for the 4,000 chips it needs each month.
Assume that next month's costs and levels of operations in the Computer and Computer
Chip Divisions are similar to this month. What is the minimum of the transfer price range
for a possible transfer of the super chip from one division to the other?
Select one:
a.
$45
b.
$20
Đúng
c.
$50
d.
$35
Phản hồi
$20
When preparing a production budget, the required production equals:
a.
budgeted sales + desired ending inventory + beginning inventory.
b.
budgeted sales - desired ending inventory + beginning inventory.
c.
budgeted sales - desired ending inventory - beginning inventory.
d.
budgeted sales + desired ending inventory – beginning inventory.
Đúng
Phản hồi
Your answer is correct.
budgeted sales + desired ending inventory – beginning inventory.

Seaman Company has a cash balance of $30,000 on April 1. The company must maintain
a minimum cash balance of $24,000. During April, cash receipts of $192,000 are
planned. Cash disbursements during the month are expected to total $208,000. Ignoring
interest payments, during April the company will need to borrow:
a.
$24,000
b.
$14,000
c.
$10,000
Đúng
d.
$16,000
Phản hồi
$10,000
Câu Hỏi 15SaiĐạt điểm 0,00 trên 0,50Không gắn cờĐặt cờ

Criteria used to measure customer attitudes towards products and services are:
a.
Customer Loyalty
b.
Profitability
c.
Customers satisfaction
d.
All are correct
Sai
Phản hồi
Your answer is incorrect.
Customers satisfaction

T&M Company has a cost of ordering raw materials of $28 each time and the cost of
holding raw materials of $0.28/kg/month. The annual demand for raw materials is 1,350
kg. To minimize inventory-related costs, the optimal quantity of materials that T&M
needs to order at a time is:
a.
150
b.
519.62
Sai
c.
42
d.
11,250
Phản hồi
150

Minh Triet Trading Company determines the optimal order quantity of 320 units of
products through the EOQ model. Holding cost for each unit of product is
$20/unit/month. The annual product demand is 9,600 units of products. Cost of ordering a
consignment that Minh Triet needs to spend:
a.
$400
b.
$520
c.
$106.7
Sai
d.
$1280
Phản hồi
$1280

The cost of 1 hour for an employee to enter the order information into the system is $42.
For customers who place orders manually, the average time for an employee to enter
basic customer information is 0.15 hour; In addition, it takes an additional 0.025 hours to
enter each line of information related to the order.
Cost of entering the order information for a manually entered order with 10 lines of
information related to the order:
a.
$10.5
b.
$16.8
Đúng
c.
$20
d.
$7.35
Phản hồi
$16.8

Appraisal costs refer to costs incurred by:
a.
Actions to prevent product and service defects
b.
Defects of products or services are discovered before delivering to the customer.
c.
The activity of checking the quality of a product or service before it is delivered to a
customer
Đúng
d.
Faulty or damaged products or services have been delivered to customers
Phản hồi
The activity of checking the quality of a product or service before it is delivered to a
customer

The estimated quality costs for a company in Sep 20x1 are as follows:
- Depreciation of testing equipment: $250
- Detecting defects of products: $300
- Quality planning $560
- Returned goods $800

- Handling complaints from customers $1,200
- Repairing: $900
- Preventive maintenance of production equipment $800
- Compensation for customers $700
- Check imported raw materials $400
- Product inspection $100
- Training on quality $1,050
The cost of prevention will be equal to:
a.
$1,360
b.
$3,110
c.
$2,410
Đúng
d.
$1,610
Phản hồi
$2,410

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Câu Hỏi 1

January February March April

Total sales ............ $50,000 $60,000 $40,000 $30,000

Total cash receipts in April are expected to be:

Direct labor . . . . . . . . . . . . . . . . . . . .$15.80q

Utilities . . . . . . . . . . . . . . . . . . . . . . .$6,400 + $0.8q

Equipment depreciation . . . . . . . . . .$23,000 + $3.7q

Factory rent . . . . . . . . . . . . . . . . . . $8,400

Direct labor . . . . . . . . . . . . . . . . . . . .$134,730

Indirect labor . . . . . . . . . . . . . . . . . . $19,860

Equipment depreciation . . . . . . . . . . $54,080

Factory rent . . . . . . . . . . . . . . . . . . $8,700

The company actually worked 8,400 labor-hours in March

The correct answer is: $1,980U

The correct answer is: 154,000

where they can be used most effectively.

The correct answer is:

standard price allowed per unit of the activity base.

The correct answer is:

Material Labor: 3.0 feet per unit @ $4.20 per foot

Actual: 2.5 hours per unit @ $7.50 per hour

Production: 2,750 units produced during the month

Labor: 7,000 direct labor hours @ $7.90 per hour

What is the material price variance (calculated at point of purchase)?

(Round all answers to the nearest dollar.)

DLH per unit 2.5

Variable overhead per DLH $1.75

Fixed overhead per DLH $3.1

Budgeted variable overhead $21,875

Budgeted fixed overhead $38,750750

Direct labor hours 10,000

Variable overhead $ 26,250

Using the two-variance approach, what is the controllable variance?

DLH per unit 2.5

Variable overhead per DLH $1.75

Fixed overhead per DLH $3.1

Budgeted variable overhead $21,875

Budgeted fixed overhead $38,750750

Direct labor hours 10,000

Variable overhead $ 26,250

Using the four-variance approach, what is the volume variance?

The correct answer is:

Selling price per chip $50

Variable costs per chip $20

Fixed production costs $60,000

Fixed SG&A costs $90,000

Monthly capacity 10,000 chips

External sales 6,000 chips

Internal sales 0 chips

Câu Hỏi 14ĐúngĐạt điểm 0,50 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 15SaiĐạt điểm 0,00 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 16SaiĐạt điểm 0,00 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 17SaiĐạt điểm 0,00 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 18ĐúngĐạt điểm 0,50 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 19ĐúngĐạt điểm 0,50 trên 0,50Không gắn cờĐặt cờ

Câu Hỏi 20ĐúngĐạt điểm 0,50 trên 0,50Không gắn cờĐặt cờ

- Depreciation of testing equipment: $250

- Detecting defects of products: $300

- Quality planning $560

- Returned goods $800

- Preventive maintenance of production equipment $800

- Compensation for customers $700

- Check imported raw materials $400

- Product inspection $100