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Managerial Accounting: Cost Allocation, Budgeting, and Financial Analysis Assignment

A managerial accounting assignment focusing on cost allocation, budgeting strategies, and financial analysis techniques.

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    Managerial Accounting: Cost Allocation, Budgeting, and Financial Analysis Assignment 1. (TCO 1) The principle managers follow when they only investigate significant departures from the plan is commonly known as (Points : 4) small amounts don't matter only materials and labor deserve attention management by exception exceptional costs yield exception results 2. (TCO 1) A company has a cost that is $2.00 per unit at a volume of 12,000 units and $2.00 per unit at a volume of 16,000 units. What type of cost is this? (Points : 4) Fixed Variable Sunk Incremental 3. (TCO 2) A job - order costing system is likely used by a (Points : 4) soft drink bottler breakfast cereal manufacturer paint manufacturer custom home builder 4. (TCO 3) Why do we compute equivalent units differently for raw materials and conversion costs? (Points : 4) Raw materials are more difficult to count

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    Conversion costs are more difficult to count They are introduced into the process at different times None of the above 5. (TCO 3) The Freedom Corporation’s painting department had a beginning inventory of 580 units, which had direct material costs of $22,715. During June, 9,290 units were started and costs of $1,268,085 were incurred for direct material. Ending inventory consists of 1,000 units, which are 35% complete with respect to direct material. What is the cost per equivalent unit for direct material? (Points : 4) $40.00 $137.00 $140.00 $159.00 6. (TCO 4) The range of activity for which estimates of cost behavior are likely to be accurate is the (Points : 4) incremental range margin of safety relevant range range of opportunity 7. (TCO 4) The contribution margin per unit is the difference between (Points : 4) total revenue and total fixed costs selling price and variable costs per unit anticipated level of sales and break - even sales budgeted fixed costs and actual fixed costs

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    8. (TCO 5) Which of the following is treated as a product cost in variable costing? (Points : 4) Sales commissions Administrative salaries Fixed manufacturing overhead Direct labor 9. (TCO 5) Which of the following is not true when units sold exceed units produced? (Points : 4) Full costing and variable costing will yield the same net income. Full costing will assign some fixed manufacturing costs to the units in ending inventory. Net income will be higher under variable costing than under full costing. Inventory levels will decrease. 10. (TCO 6) A contract which specifies that the suppler will be paid for the cost of production as well as some fixed amount or percentage of cost is called a(n) (Points : 4) approved overrun. cost - plus contract. allocation plan. indirect cost budget. 11. (TCO 6) The traditional approach to cost allocation (Points : 4) tends to over - cost high volume core products. usually requires more cost pools than ABC. attempts to identify the activities that cause costs. produces more accurate costs than any other method.

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